Public Storage (NYSE: PSA) awards 3,232 stock options to director Mitra Shankh

Rhea-AI Filing Summary

Public Storage director Mitra Shankh received a grant of stock options covering 3,232 common shares. The options have an exercise price of $308.98 per share, were awarded at no cost, vest in full one year from the grant date, and expire in 2036. Following this grant, Shankh holds 3,232 stock options directly.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider Mitra Shankh

Role null

Type	Security	Shares	Price	Value
Grant/Award	Stock Option (Right to Buy)	3,232	$0.00	--

Holdings After Transaction: Stock Option (Right to Buy) — 3,232 shares (Direct, null)

Footnotes (1)

1. [object Object]

Key Figures

Stock options granted: 3,232 options Exercise price: $308.98 per share Underlying shares: 3,232 common shares +3 more

6 metrics

Stock options granted 3,232 options Grant to director Mitra Shankh on May 6, 2026

Exercise price $308.98 per share Strike price for the 3,232 stock options

Underlying shares 3,232 common shares Shares issuable upon exercise of granted options

Total options after grant 3,232 options Director’s derivative holdings following the reported transaction

Option expiration May 5, 2036 Expiration date of the granted stock options

Vesting period 1 year from grant Options vest in full one year after the grant date

Key Terms

Stock Option (Right to Buy), Amended and Restated Public Storage 2021 Equity and Performance-Based Incentive Compensation Plan, vesting, exercise price

4 terms

Stock Option (Right to Buy) financial

"security_title: Stock Option (Right to Buy)"

Amended and Restated Public Storage 2021 Equity and Performance-Based Incentive Compensation Plan financial

"Stock Option granted pursuant to the Amended and Restated Public Storage 2021 Equity and Performance-Based Incentive Compensation Plan."

vesting financial

"Option vests in full one (1) year from the grant date."

Vesting is the process by which you earn full ownership of something, like company stock or a retirement benefit, over time. It’s like earning the right to keep a gift piece by piece the longer you stay with a company, making sure employees stay committed before they receive all the benefits.

exercise price financial

"conversion_or_exercise_price: 308.9800"

The exercise price is the fixed amount at which you can buy or sell an asset, like a stock, when using an options contract. It matters because it helps determine whether exercising the option will be profitable or not, depending on the current market price. Think of it as the set price you agree on today to buy or sell later.

Form 4 Insider Transactions: What Each Field Means →

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^*

Mitra Shankh

(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)
05/06/2026

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

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
Stock Option (Right to Buy)(1)	$308.98	05/06/2026		A		3,232		05/06/2027	05/05/2036	Common Shares	3,232	$0	3,232	D

Explanation of Responses:

1. Stock Option granted pursuant to the Amended and Restated Public Storage 2021 Equity and Performance-Based Incentive Compensation Plan. Option vests in full one (1) year from the grant date.

Remarks:

	/s/ Steven C. Babinski, Attorney-in-Fact	05/08/2026
	** 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)

FAQ

What insider transaction did Public Storage (PSA) report for Mitra Shankh?

Public Storage reported that director Mitra Shankh received a grant of 3,232 stock options. These options give the right to buy 3,232 common shares at a fixed exercise price, functioning as part of the director’s equity-based compensation package under the company’s incentive plan.

What is the exercise price of the new Public Storage (PSA) stock options?

The new stock options for Mitra Shankh have an exercise price of $308.98 per share. This is the price at which the director can purchase Public Storage common shares once the options vest and before they expire, assuming the options are in the money.

When do Mitra Shankh’s Public Storage (PSA) stock options vest and expire?

The stock options granted to Mitra Shankh vest in full one year from the grant date. They carry an expiration date in 2036, giving a long exercise window after vesting, provided Shankh remains eligible under the plan’s terms and conditions.

How many Public Storage (PSA) derivative securities does Mitra Shankh hold after this Form 4?

After this grant, Mitra Shankh holds 3,232 stock options as reported. These options represent rights to acquire 3,232 Public Storage common shares at the fixed exercise price, and are held directly according to the ownership information in the filing.

Under which compensation plan were the Public Storage (PSA) options granted to Mitra Shankh?

The options were granted under the Amended and Restated Public Storage 2021 Equity and Performance-Based Incentive Compensation Plan. This plan authorizes equity awards such as stock options to directors and other participants as part of the company’s long-term incentive compensation structure.