Joseph D. Margolis - Feb 14, 2022 Form 4 Insider Report for Extra Space Storage Inc. (EXR)

Role
Chief Executive Officer
Signature
Grace Kunde - attorney in fact
Stock symbol
EXR
Transactions as of
Feb 14, 2022
Transactions value $
$11,451,463
Form type
4
Date filed
2/16/2022, 03:33 PM
Previous filing
Jan 5, 2022
Next filing
Feb 18, 2022

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction EXR Common Stock Award $10.1M +52.2K +176.58% $194.21 81.7K Feb 14, 2022 Direct F2
transaction EXR Common Stock Award $1.89M +9.72K +11.89% $194.21 91.4K Feb 14, 2022 Direct F3
transaction EXR Common Stock Tax liability -$251K -1.28K -1.4% $196.87 90.2K Feb 14, 2022 Direct F1
transaction EXR Common Stock Tax liability -$318K -1.62K -1.8% $196.15 88.5K Feb 15, 2022 Direct F1
holding EXR Common Stock 85K Feb 14, 2022 Cove Hollow Lane I, LLC F4
holding EXR Common Stock 25.1K Feb 14, 2022 Cove Hollow Lane II, LLC F5
* 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.
F4 Shares held in Cove Hollow Lane I, LLC.
F5 The reporting person disclaims beneficial ownership in the common stock held by Cove Hollow Lane II, LLC, except to the extent of his pecuniary interest therein.