Public Storage director gifts 734 common shares

Public Storage director Ronald L. Havner Jr. reported a bona fide gift of 734 Common Shares on April 14, 2026, transferring them to his trust.

Rhea-AI Filing Summary

Public Storage director Ronald L. Havner Jr. reported a bona fide gift of 734 Common Shares on April 14, 2026, transferring them to his trust. The gift was made at a stated price of $0.00 per share and is a non-market transaction.

After the gift, Havner directly holds 6,726.59 Common Shares, including 2,726.59 deferred share units tied to previously granted restricted share units. He also has indirect ownership of 317,787 Common Shares through the Havner Family Trust and 1,900 Common Shares through his spouse’s IRA.

Insider Trade Summary

734 shares gifted

Gift 3 txns

Insider HAVNER RONALD L JR

Role Director

Type	Security	Shares	Price	Value
Gift	Common Shares	734	$0.00	$0.00
holding	Common Shares	--	--	--
holding	Common Shares	--	--	--

Holdings After Transaction: Common Shares — 6,726.59 shares (Direct); Common Shares — 317,787 shares (Indirect, By Trust); Common Shares — 1,900 shares (Indirect, By Spouse IRA)

Footnotes (3)

1. F1. Reflects transfer of shares to Mr. Havner's trust.
2. F2. Includes 2,726.59 deferred share units. Mr. Havner postponed receipt of 10,000 vested restricted share units granted February 19, 2015 with an original vesting date of April 1, 2016 in accordance with the following schedule: 10 equal installments over 10 years starting April 1, 2021 to April 1, 2030. 4,000 remain subject to deferred receipt and are also included here.
3. F3. Ronald L. Havner and LeeAnn R. Havner, Trustee of Havner Family Trust.

Key Figures

Gifted shares: 734 shares Direct holdings after gift: 6,726.59 shares Deferred share units: 2,726.59 units +5 more

8 metrics

Gifted shares 734 shares Bona fide gift of Common Shares on April 14, 2026

Direct holdings after gift 6,726.59 shares Common Shares held directly following the reported gift

Deferred share units 2,726.59 units Deferred share units included in direct holdings

Trust holdings 317,787 shares Common Shares held indirectly by Havner Family Trust

Spouse IRA holdings 1,900 shares Common Shares held indirectly via spouse’s IRA

Deferred RSU grant 10,000 units Vested restricted share units granted February 19, 2015

Remaining deferred RSUs 4,000 units Restricted share units still subject to deferred receipt

Deferral schedule 10 installments 2021–2030 Annual installments from April 1, 2021 to April 1, 2030

Key Terms

bona fide gift, deferred share units, restricted share units, Trust, +1 more

5 terms

bona fide gift financial

"transaction_code_description": "Bona fide gift"

A bona fide gift is a genuine, voluntary transfer of money, property, or benefits from one party to another made without expectation of repayment, services, or hidden conditions. Investors care because such gifts can affect company disclosures, related‑party transaction rules, tax treatment, and perceived conflicts of interest; think of it like someone giving you a present with no strings attached — but on a corporate scale, auditors and regulators need to verify it really is unconditional.

deferred share units financial

"Includes 2,726.59 deferred share units."

Deferred share units are promises that give an executive or director the right to receive company shares or their cash value at a future date, often when they retire or leave the company. Think of them as a paycheck held in a savings account that converts into stock later; they matter to investors because they tie pay to long-term performance, create potential future dilution of shares, and represent a delayed cash or share obligation the company must eventually fulfill.

restricted share units financial

"10,000 vested restricted share units granted February 19, 2015"

Restricted share units (RSUs) are a promise from a company to give an employee or service provider actual shares or cash equal to the shares after certain conditions are met, typically staying with the company for a set time or hitting performance targets. Think of them like a time-locked gift card that becomes usable only after you’ve earned it. For investors, RSUs matter because they align employee incentives with company performance and can increase the number of shares outstanding over time, diluting existing ownership and affecting earnings per share.

Trust financial

"Ronald L. Havner and LeeAnn R. Havner, Trustee of Havner Family Trust."

A trust is a legal setup in which one party (the trustee) holds and manages assets—like cash, stocks or property—on behalf of other people (beneficiaries) according to instructions from the person who created it (the grantor). Think of it as a locked box with a keyholder who must follow written rules; for investors it matters because trusts influence who controls and benefits from assets, affect taxes and succession, and can change how quickly or transparently shares are bought, sold or voted.

IRA financial

"nature_of_ownership": "By Spouse IRA""

An individual retirement account (IRA) is a savings account designed to help people put aside money for their retirement, often with tax advantages that encourage long-term savings. It matters to investors because it can grow over time, providing financial security later in life, and offers benefits that can reduce current taxes or allow investments to compound more effectively.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What did Public Storage (PSA) director Ronald L. Havner Jr. report in this Form 4?

He reported a bona fide gift transfer of 734 Common Shares on April 14, 2026. The shares were transferred at a stated price of $0.00 per share to his trust, reflecting a non-market disposition rather than an open-market sale or purchase.

How many Public Storage (PSA) shares does Ronald L. Havner Jr. hold directly after the gift?

After the gift, he directly holds 6,726.59 Common Shares. This figure includes 2,726.59 deferred share units tied to previously vested restricted share units, which are scheduled for deferred receipt over time according to a multi-year installment schedule.

What indirect Public Storage (PSA) holdings are disclosed for Ronald L. Havner Jr.?

He has 317,787 Common Shares held indirectly through the Havner Family Trust and 1,900 Common Shares held indirectly through his spouse’s IRA. These positions are reported as indirect ownership interests associated with him as a director of Public Storage.

How are deferred share units described for Public Storage (PSA) director Ronald L. Havner Jr.?

The filing notes 2,726.59 deferred share units included in his direct holdings. These relate to 10,000 vested restricted share units granted February 19, 2015, with receipt postponed into 10 equal annual installments from April 1, 2021 through April 1, 2030.

What remains of the postponed restricted share units for Public Storage (PSA) director Havner?

Of the 10,000 vested restricted share units whose receipt was deferred, 4,000 remain subject to deferred receipt. These remaining units are also included within the reported direct holdings, alongside other deferred share units and common shares.

Is the 734-share transaction by Public Storage (PSA) director Havner an open-market sale?

No, it is reported as a bona fide gift coded as a gift transfer. The transaction involves transferring 734 Common Shares to his trust at a stated price of $0.00 per share, rather than selling shares in the open market for cash proceeds.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 04/15/2026 - 10:25 AM EDT Learn about SEC filing dates

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
Estimated average burden
hours per response:			0.5

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^*

HAVNER RONALD L JR

(Last) (First) (Middle)

C/O PUBLIC STORAGE

2811 INTERNET BOULEVARD

(Street)

FRISCO TEXAS 75034

(City) (State) (Zip)

UNITED STATES

(Country)

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)

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
04/14/2026

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

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

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

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	04/14/2026		G		734(1)	D	$0	6,726.59(2)	D
Common Shares								317,787	I	By Trust(3)
Common Shares								1,900	I	By Spouse IRA

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:

1. Reflects transfer of shares to Mr. Havner's trust.

2. Includes 2,726.59 deferred share units. Mr. Havner postponed receipt of 10,000 vested restricted share units granted February 19, 2015 with an original vesting date of April 1, 2016 in accordance with the following schedule: 10 equal installments over 10 years starting April 1, 2021 to April 1, 2030. 4,000 remain subject to deferred receipt and are also included here.

3. Ronald L. Havner and LeeAnn R. Havner, Trustee of Havner Family Trust.

Remarks:

	/s/ Nathaniel A. Vitan, Attorney-in-Fact	04/15/2026
	** 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.
* Form 4: SEC 1474 (03-26)