Ronald L. Havner Jr - Mar 31, 2023 Form 4 Insider Report for Public Storage (PSA)

Role
Director
Signature
/s/ Nathaniel A. Vitan, Attorney-in-Fact
Stock symbol
PSA
Transactions as of
Mar 31, 2023
Transactions value $
-$96,383
Form type
4
Date filed
4/4/2023, 06:52 PM
Previous filing
Mar 9, 2023
Next filing
May 4, 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction PSA Common Stock Award $30.2K +100 +0.21% $302.14 47.6K Mar 31, 2023 Direct F1, F2
transaction PSA Common Stock Tax liability -$127K -419 -0.88% $302.14 47.2K Apr 1, 2023 Direct F3
holding PSA Common Stock 315K Mar 31, 2023 By Trust F4
holding PSA Common Stock 1.9K Mar 31, 2023 By Spouse IRA
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Grant of fully-vested deferred stock units pursuant to the Company's Non-Management Trustee Compensation and Deferral Program under the Company's 2021 Equity and Performance-Based Incentive Compensation Plan. Each deferred stock unit represents the right to receive one share of the Company's common stock. The number of deferred stock units granted represents the quotient of the dollar amount of the portion of the cash retainers the reporting person has earned for the applicable calendar quarter and elected to be paid in deferred stock units, divided by the Company's closing stock price on the grant date, rounded up to the nearest deferred stock unit. The deferred stock units will be settled in shares of unrestricted common stock (i) in a lump sum upon the reporting person's separation from service as a trustee or (ii) in a lump sum upon the reporting person's earlier death or disability or upon an earlier change of control of the Company.
F2 Includes 33,125 restricted stock units and 1,990 deferred stock units. Mr. Havner postponed receipt of 10,000 vested restricted stock units granted February 19, 2015 with an original vesting date of April 1, 2016 in accordance with the following schedule: 10 equal installments over 10 years starting April 1, 2021 to April 1, 2030. 8,000 remain subject to deferred receipt.
F3 Includes 33,125 restricted stock units and 1,990 deferred stock units. Mr. Havner postponed receipt of 10,000 vested restricted stock units granted February 19, 2015 with an original vesting date of April 1, 2016 in accordance with the following schedule: 10 equal installments over 10 years starting April 1, 2021 to April 1, 2030. On April 1, 2023, Mr. Havner received the third installment of such vested restricted stock units and 7,000 remain subject to deferred receipt.
F4 Ronald L. Havner and LeeAnn R. Havner, Trustee of Havner Family Trust.