Jennifer Holden Dunbar - 08 Dec 2021 Form 4 Insider Report for PS BUSINESS PARKS, INC./MD

Role: Director
Signature: /s/ Nathaniel A. Vitan, Attorney-in-Fact
Issuer symbol: N/A
Transactions as of: 08 Dec 2021
Net transactions value: +$354,040
Form type: 4
Filing time: 10 Dec 2021, 14:22:39 UTC
Previous filing: 07 Dec 2021
Next filing: 17 Dec 2021
SEC: View on sec.gov

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	PSBYP	Common Stock	Options Exercise	$160,260	+2,000	+2985%	$80.13	2,067	08 Dec 2021	Direct
transaction	PSBYP	Common Stock	Options Exercise	$193,780	+2,000	+97%	$96.89	4,067	08 Dec 2021	Direct
transaction	PSBYP	Common Stock	Gift	$0	-4,000	-98%	$0.000000	67	08 Dec 2021	Direct	F1
holding	PSBYP	Common Stock						4,425	08 Dec 2021	As Trustee	F2

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Underlying Class	Amount	Exercise Price	Ownership	Footnotes
transaction	PSBYP	Stock Option (right to buy)	Options Exercise	$0	-2,000	-100%	$0.000000^*	0	08 Dec 2021	Common Stock	2,000	$80.13	Direct	F3
transaction	PSBYP	Stock Option (right to buy)	Options Exercise	$0	-2,000	-100%	$0.000000^*	0	08 Dec 2021	Common Stock	2,000	$96.89	Direct	F3

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	Reflects transfer of shares to Ms. Dunbar???s trust.
F2	By reporting person and her husband as trustees of the Lilac II Trust.
F3	Stock option granted pursuant to the 2012 Equity and Performance-Based Incentive Compensation Plan. Option vests in five (5) equal annual installments beginning one (1) year from the date of grant.