Joseph Saffire - Jul 20, 2023 Form 4 Insider Report for Extra Space Storage Inc. (EXR)

Role: Director
Signature: /s/ Grace Kunde, Attorney-in-Fact
Stock symbol: EXR
Transactions as of: Jul 20, 2023
Transactions value $: $0
Form type: 4
Date filed: 7/21/2023, 07:30 PM
Previous filing: Jul 20, 2023
Next filing: Nov 14, 2023

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	EXR	Common Stock	Award		+96.1K			96.1K	Jul 20, 2023	Direct	F1, F2

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

Explanation of Responses:

Id	Content
F1	Pursuant to the terms of an Agreement and Plan of Merger, dated as of April 2, 2023 (the "Merger Agreement"), by and among the Issuer, Extra Space Storage LP ("Extra Space OP"), Eros Merger Sub, LLC, Eros OP Merger Sub, LLC, Life Storage, Inc. ("Life Storage") and Life Storage LP ("Life Storage OP"), Life Storage merged with the Issuer through a series of transactions, with Life Storage continuing as the surviving entity and a wholly owned subsidiary of the Issuer ("the Parent Merger") and Life Storage OP continuing as the surviving entity and a wholly owned indirect subsidiary of Extra Space OP.
F2	At the effective time of the Parent Merger, each share of Life Storage common stock issued and outstanding immediately prior to the effective time automatically converted into 0.895 of a newly issued share of the Issuer's Common Stock, without interest, plus the right, if any, to receive cash in lieu of fractional shares of Common Stock.

Content

Pursuant to the terms of an Agreement and Plan of Merger, dated as of April 2, 2023 (the "Merger Agreement"), by and among the Issuer, Extra Space Storage LP ("Extra Space OP"), Eros Merger Sub, LLC, Eros OP Merger Sub, LLC, Life Storage, Inc. ("Life Storage") and Life Storage LP ("Life Storage OP"), Life Storage merged with the Issuer through a series of transactions, with Life Storage continuing as the surviving entity and a wholly owned subsidiary of the Issuer ("the Parent Merger") and Life Storage OP continuing as the surviving entity and a wholly owned indirect subsidiary of Extra Space OP.

At the effective time of the Parent Merger, each share of Life Storage common stock issued and outstanding immediately prior to the effective time automatically converted into 0.895 of a newly issued share of the Issuer's Common Stock, without interest, plus the right, if any, to receive cash in lieu of fractional shares of Common Stock.