Nathaniel A. Vitan - 06 Dec 2021 Form 4 Insider Report for Public Storage (PSA)

Role: Sr. VP, Ch. Legal Off., Sec.
Signature: Nathaniel A. Vitan, Attorney-in-Fact
Issuer symbol: PSA
Transactions as of: 06 Dec 2021
Net transactions value: -$1,986,000
Form type: 4
Filing time: 07 Dec 2021, 10:52:43 UTC
Previous filing: 12 Aug 2021
Next filing: 17 Feb 2022
SEC: View on sec.gov

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	PSA	Common Stock	Options Exercise	$6,493,500	+25,000	+323%	$259.74	32,740	06 Dec 2021	Direct	F1
transaction	PSA	Common Stock	Sale	$8,479,500	-25,000	-76%	$339.18	7,740	06 Dec 2021	Direct	F1

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	-25,000	-100%	$0.000000^*	0	06 Dec 2021	Common Stock	25,000	$259.74	Direct	F2

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

Explanation of Responses:

Id	Content
F1	Includes 6,740 RSUs.
F2	Stock option granted pursuant to the 2016 Equity and Performance-Based Incentive Compensation Plan. Option vests in five (5) equal annual installments beginning one (1) year from the date of grant.