P. Scott Stubbs - 14 Feb 2022 Form 4 Insider Report for Extra Space Storage Inc. (EXR)

Signature
Grace Kunde - attorney in fact
Issuer symbol
EXR
Transactions as of
14 Feb 2022
Transactions value $
$3,174,325
Form type
4
Filing time
16 Feb 2022, 15:32:45
Previous filing
15 Dec 2021
Next filing
18 Feb 2022

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction EXR Common Stock Award $2.83M +14.6K +10.74% $194.21 150K 14 Feb 2022 Direct F2
transaction EXR Common Stock Award $500K +2.58K +1.71% $194.21 153K 14 Feb 2022 Direct F3
transaction EXR Common Stock Tax liability -$63.2K -321 -0.21% $196.87 153K 14 Feb 2022 Direct F1
transaction EXR Common Stock Tax liability -$94.2K -480 -0.31% $196.15 152K 15 Feb 2022 Direct F1
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Represents shares withheld by the Issuer in payment of the tax liability arising in connection with the settlement of vested restricted stock awards. Restricted stock awards vest 25% annually over four years, beginning on the first anniversary of the grant date.
F2 Represents the number of shares of common stock issued upon the vesting of performance stock units (PSUs). Each PSU represented a contingent right to receive shares of the Issuer common stock. The PSUs were originally granted on February 16, 2019 and were eligible to vest based on the Issuer achievement of certain performance objectives during the three-year performance period ending December 31, 2021. On February 14, 2022, the Compensation Committee of the Board of Directors of the Issuer certified the Issuer achievement relative to the applicable performance objectives and approved the vesting of the PSUs with respect to these shares.
F3 Restricted stock awards vest 25% annually over four years, beginning on March 1st the year after the award is granted.