Public Storage insider purchase: 700 shares reported on Form 4

Rhea-AI Filing Summary

Luke J. Petherbridge, a director of Public Storage (PSA), reported a purchase of 700 common shares on 08/08/2025 at a price of $284.25 per share. The Form 4 shows the acquisition was executed under code P and the filing indicates the shares are held in a direct ownership form following the transaction. The filing was signed by an attorney-in-fact on behalf of the reporting person.

Positive

• Director purchase of 700 shares shows insider buying activity
• Full Form 4 disclosure with transaction date, price, and direct ownership

Negative

• None.

Insights

Financial Analyst

TL;DR: A director bought 700 PSA shares at $284.25, a small insider purchase that is a neutral signal absent additional context.

The transaction shows a director-level purchase of 700 shares, suggesting insider confidence but the absolute size appears limited relative to a large-cap REIT like Public Storage. There is no indication of a rule-based plan (e.g., 10b5-1) in the text, and no aggregation of other recent insider activity is provided. For investors, this single small purchase is a data point but not a material event on its own.

Corporate Governance Expert

TL;DR: Reporting is timely and properly documented; ownership is direct and the Form 4 is signed by an attorney-in-fact.

The Form 4 includes the required details: reporting person identity, relationship as a director, transaction date, transaction code, number of shares, price, and post-transaction ownership. The attorney-in-fact signature is present, which satisfies procedural requirements. The filing contains no disclosures of derivative transactions or plan-based trades.

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

PETHERBRIDGE LUKE J

(Last) (First) (Middle)

C/O PUBLIC STORAGE

701 WESTERN AVENUE

(Street)

GLENDALE CA 91201

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Public Storage [ PSA ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
08/08/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Shares	08/08/2025		P		700	A	$284.25	700	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

Remarks:

	/s/ Steven C. Babinski, Attorney-in-Fact	08/08/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

What did PSA director Luke J. Petherbridge report on Form 4?

He reported acquiring 700 common shares of Public Storage on 08/08/2025 at $284.25 per share.

How is the ownership held according to the Form 4 for PSA (Public Storage)?

The filing indicates the shares are held in a direct (D) ownership form following the transaction.

Was the Form 4 for PSA signed and by whom?

The Form 4 was signed on behalf of the reporting person by Steven C. Babinski, Attorney-in-Fact on 08/08/2025.

Does the Form 4 for PSA show any derivative transactions or 10b5-1 plan?

No derivative transactions are reported and the filing does not indicate a 10b5-1 plan in the provided text.

What transaction code was used on the PSA Form 4?

The transaction is labeled with code P in the filing.