John Reyes - Dec 12, 2023 Form 4 Insider Report for Public Storage (PSA)

Role
Director
Signature
/s/ Steven C. Babinski, Attorney-in-Fact
Stock symbol
PSA
Transactions as of
Dec 12, 2023
Transactions value $
-$5,942,910
Form type
4
Date filed
12/12/2023, 08:25 PM
Previous filing
Dec 12, 2023
Next filing
Jan 3, 2024

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction PSA Common Shares Options Exercise $8.6M +53.3K +30.58% $161.42 227K Dec 12, 2023 Direct F1
transaction PSA Common Shares Sale -$9.16M -33.6K -14.76% $272.82 194K Dec 12, 2023 Direct F1, F2
transaction PSA Common Shares Sale -$5.38M -19.7K -10.16% $273.23 174K Dec 12, 2023 Direct F1, F3

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 PSA Stock Option (Right to Buy) Options Exercise $0 -53.3K -100% $0.00* 0 Dec 12, 2023 Common Shares 53.3K $161.42 Direct F4, F5
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Includes 17,300 restricted stock units and 2,207 deferred stock units.
F2 Represents weighted average price. These shares were sold at prices ranging between $272.58 and $272.99. Full information regarding the number of shares sold at each separate price will be provided by the reporting person upon request to the staff of the Securities and Exchange Commission, the issuer, or a security holder of the issuer.
F3 Represents weighted average price. These shares were sold at prices ranging between $273.00 and $273.82. Full information regarding the number of shares sold at each separate price will be provided by the reporting person upon request to the staff of the Securities and Exchange Commission, the issuer, or a security holder of the issuer.
F4 Stock option granted pursuant to the 2007 Equity and Performance-Based Incentive Compensation Plan. Option vests in five (5) equal annual installments beginning one (1) year from grant date.
F5 This option was previously reported as an option for 100,000 common shares at an exercise price of $166.71, but, pursuant to anti-dilution provisions of the Company's 2007 Equity and Performance-Based Incentive Compensation Plan, was adjusted to reflect the special dividend declared by the Company on July 22, 2022. Of the 103,275 common shares underlying the as-adjusted option, the reporting person previously reported the exercise of this option as to 50,000 common shares, and the exercise reported on this Form 4 reflects the exercise of the remainder of the option.