Joseph D. Fisher - 16 Feb 2026 Form 3 Insider Report for Public Storage (PSA)

Role
President, CFO
Signature
/s/ Steven C. Babinski, Attorney-in-Fact
Issuer symbol
PSA
Transactions as of
16 Feb 2026
Net transactions value
$0
Form type
3
Filing time
23 Feb 2026, 19:55:23 UTC
Previous filing
05 Jan 2026
SEC
View on sec.gov

Reporting Owners (1)

Name Relationship Address Signature Signature date CIK
Fisher Joseph D President, CFO C/O PUBLIC STORAGE, 2811 INTERNET BOULEVARD, FRISCO /s/ Steven C. Babinski, Attorney-in-Fact 23 Feb 2026 0001691531

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
holding PSA AO LTIP Units 16 Feb 2026 Common Shares 68,886 $350.00 Direct F1, F2, F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Reflects a promotion award of membership interests in Public Storage OP, L.P. ("Public Storage OP") designated as AO LTIP Units ("AO LTIP Units") granted pursuant to the Amended and Restated Public Storage 2021 Equity and Performance-Based Incentive Compensation Plan. The AO LTIP Units vest as to 60% on the sixth anniversary of the grant date with the remaining 40% vesting ratably over the following two years. [footnote continues]
F2 [continued from footnote] Vested AO LTIP Units are convertible at the reporting person's election into vested LTIP Units ("LTIP Units") of Public Storage OP, which are convertible, conditioned upon the satisfaction of minimum allocations to the capital accounts of the LTIP Units for federal income tax purposes, into Common Units in Public Storage OP ("OP Units"). OP Units may be exchanged by the reporting person for Public Storage common shares or the equivalent cash value of common shares, as determined by Public Storage. AO LTIP Units and LTIP Units are intended to qualify as profits interests for US federal income tax purposes.
F3 These AO LTIP Units become exercisable as to 60% on February 10, 2032, 20% on February 10, 2033, and 20% on February 10, 2034.

Remarks:

Exhibit 24 - Power of Attorney