Avedick Baruyr Poladian - Mar 13, 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 13, 2023
Transactions value $: $822,982
Form type: 4
Date filed: 3/14/2023, 11:52 AM
Previous filing: Dec 16, 2022
Next filing: May 4, 2023

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	PSA	Common Stock	Options Exercise	$823K	+5.16K	+17.21%	$159.40	35.2K	Mar 13, 2023	Direct
holding	PSA	Common Stock						1K	Mar 13, 2023	By IRA	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	-5.16K	-100%	$0.00^*	0	Mar 13, 2023	Common Stock	5.16K	$159.40	Direct	F2, F3

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

Explanation of Responses:

Id	Content
F1	By the custodian of an IRA for the benefit of Avedick B. Poladian.
F2	Stock option granted pursuant to the 2007 Equity and Performance-Based Incentive Compensation Plan. Option vests in three (3) equal annual installments beginning one (1) year from grant date.
F3	This option was previously reported as an option for 5,000 shares of common stock at an exercise price of $164.62, 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.