John Reyes - 13 Feb 2026 Form 4 Insider Report for Public Storage (PSA)

Reporting relationship: Director
Issuer ticker: PSA
Reported as of: 13 Feb 2026
Net transaction value: $0
SEC form: 4
Accepted by SEC: 18 Feb 2026, 10:47:23 UTC
Prior SEC filing: 09 Feb 2026
Next SEC filing: 02 Apr 2026
Source filing: View source filing
Reporting owner signature: /s/ Steven C. Babinski, Attorney-in-Fact

Key filing fact

John Reyes filed Form 4 for Public Storage (PSA) on 18 Feb 2026.

Key facts

This page summarizes John Reyes's Form 4 filing for Public Storage (PSA).
2 reported transactions and 2 derivative rows are listed below.
Accepted by SEC: 18 Feb 2026, 10:47.

Change

Previous filing in this sequence was filed on 09 Feb 2026.
Current net transaction value: $0.

Research use

This tells you what this filing adds before you inspect full transaction and derivative tables.
You can trace every row back to the original SEC filing document.

Evidence

Filed on Form 4

Ownership activity is grounded in SEC Form 4 disclosures.

View source filing

Reporting Owners (1)

CIK 0001227389 Primary reporting owner

REYES JOHN

Relationship: Director
Address: C/O PUBLIC STORAGE, 2811 INTERNET BOULEVARD, FRISCO
Signature: /s/ Steven C. Babinski, Attorney-in-Fact
Signature date: 18 Feb 2026

Reported derivative securities

Options, warrants, convertible securities, or similar derivative positions disclosed in the filing.

PSA transaction Derivative

AO LTIP Units

Options Exercise

Transaction value
Shares: -28,275
Change %: -100%
Price
Shares after: 0
Date: 13 Feb 2026
Ownership: Direct
Underlying class: Common Shares
Underlying amount: 28,275
Exercise price: $226.20
Footnotes: F1, F2

PSA transaction Derivative

LTIP Units

Award

Transaction value: $0
Shares: +6,980
Change %: +10%
Price: $0.000000
Shares after: 76,583
Date: 13 Feb 2026
Ownership: Direct
Underlying class: Common Shares
Underlying amount: 6,980
Exercise price
Footnotes: F3, F4

^* marks a reported price that did not pass the local price check.

Additional SEC filing notes

Filing notes and footnotes

Explanation of responses 4 footnotes

Footnote F1

On March 5, 2024, the reporting person exchanged an option to purchase 103,275 common shares of beneficial interest, par value $0.01 per share ("Common Shares"), of Public Storage (the "Company") for 103,275 limited partnership units in Public Storage OP, L.P. designated as AO LTIP Units ("AO LTIP Units"). AO LTIP Units are similar to "net exercise" stock option awards and are convertible, once vested, into a number of vested limited partnership units of Public Storage OP, L.P. designated as LTIP Units ("LTIP Units"), determined by the quotient of (i) the excess of the value of a Common Share as of the date of the conversion over $226.20, divided by (ii) the value of a Common Share as of the date of conversion. Vested LTIP Units into which AO LTIP Units have been converted are further convertible, [footnote continued]

Footnote F2

[Continued from footnote] conditioned upon minimum allocations to the capital accounts of the LTIP Units for U.S. federal income tax purposes, into an equal number of limited partnership units in Public Storage OP, L.P. ("OP Units"). The resulting OP Units are redeemable by the holder for one Common Share per OP Unit or the cash value of a Common Share, at the Company's option. 75,000 of these AO LTIP Units were previously converted.

Footnote F3

Common Shares are issued upon the redemption of OP Units on a one for one basis. OP Units have no expiration date.

Footnote F4

Includes 75,082.65 vested LTIP Units and/or OP Units and 1,500 LTIP Units subject to time-based vesting.