Equity award gives Public Storage (PSA) director 3,232 AO LTIP units
Rhea-AI Filing Summary
Public Storage director Maria R. Hawthorne received a grant of 3,232 AO LTIP Units tied to common shares as equity compensation. The award was granted at no cash cost on May 6, 2026 under the Amended and Restated Public Storage 2021 Equity and Performance-Based Incentive Compensation Plan.
The AO LTIP Units vest in full one year from the grant date and are convertible, after vesting and tax-allocation conditions, into LTIP Units and then OP Units. These OP Units may be exchanged at Hawthorne’s election for Public Storage common shares or the cash value of those shares. The award references a conversion or exercise price of $308.98 per underlying common share and has an expiration date of May 5, 2036.
Positive
- None.
Negative
- None.
Insider Trade Summary
1 transaction reported
Mixed
1 txn
Insider
HAWTHORNE MARIA R
Role
Director
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | AO LTIP Units | 3,232 | $0.00 | $0.00 |
Holdings After Transaction:
AO LTIP Units — 3,232 shares (Direct)
Footnotes (1)
- F1. Reflects an 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 in full one (1) year from the grant date. 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.
Key Figures
AO LTIP Units granted: 3,232 units
Underlying common shares: 3,232 shares
Conversion/exercise price: $308.98 per share
+1 more
4 metrics
AO LTIP Units granted
3,232 units
Equity award to director Maria R. Hawthorne on May 6, 2026
Underlying common shares
3,232 shares
Each AO LTIP Unit linked to one Public Storage common share
Conversion/exercise price
$308.98 per share
Reference price for underlying Public Storage common shares
Award expiration date
May 5, 2036
Term end for AO LTIP Units linked to the grant
Key Terms
AO LTIP Units, LTIP Units, OP Units, profits interests, +1 more
5 terms
AO LTIP Units financial
"Reflects an award of membership interests in Public Storage OP, L.P. designated as AO LTIP Units"
LTIP Units financial
"Vested AO LTIP Units are convertible at the reporting person's election into vested LTIP Units"
LTIP units are awards given to executives and employees as part of a long-term incentive plan; they act like deferred bonuses that convert into company shares or cash only if the business meets set performance or time requirements. Investors care because LTIP units tie management pay to future results, can increase the number of outstanding shares (dilution) when they vest, and create ongoing compensation expense that can affect earnings and shareholder value.
OP Units financial
"LTIP Units ... are convertible ... into Common Units in Public Storage OP ("OP Units")"
OP units are ownership stakes in an operating partnership that sits beneath a public parent company, commonly used by real estate and energy firms to hold assets and distributions. Think of them like special shares in a subsidiary: they give economic rights to profits and cash payouts but are structured differently from the parent’s common stock, so investors watch OP unit issuance because it can change the effective ownership, future distributions, and potential dilution of the parent company’s equity.
profits interests financial
"AO LTIP Units and LTIP Units are intended to qualify as profits interests for US federal income tax purposes"
Equity and Performance-Based Incentive Compensation Plan financial
"granted pursuant to the Amended and Restated Public Storage 2021 Equity and Performance-Based Incentive Compensation Plan"
AI-generated analysis. How Rhea-AI works. Not financial advice.
FAQ
What did Public Storage (PSA) director Maria R. Hawthorne receive in this insider report?
Maria R. Hawthorne received 3,232 AO LTIP Units as an equity compensation award. These derivative units are linked to Public Storage common shares, granted at no cash cost and structured within the company’s 2021 Equity and Performance-Based Incentive Compensation Plan.
How do the AO LTIP Units granted to Public Storage (PSA) director vest and convert?
The 3,232 AO LTIP Units vest in full one year after the grant date. Once vested, they may be converted into LTIP Units, then OP Units, which can be exchanged for Public Storage common shares or an equivalent cash value, subject to tax-related allocation conditions.
What is the economic reference price on Maria Hawthorne’s Public Storage (PSA) AO LTIP Units?
The award references a conversion or exercise price of $308.98 per underlying Public Storage common share. This price helps define the economic linkage between the AO LTIP Units and the common shares that may ultimately be received upon conversion and exchange.
When do Maria Hawthorne’s Public Storage (PSA) AO LTIP Units expire?
The AO LTIP Units tied to Public Storage common shares carry an expiration date of May 5, 2036. This defines the outer limit of the award’s term for potential conversion into OP Units and subsequent exchange into common shares or cash.
Are Maria Hawthorne’s Public Storage (PSA) AO LTIP Units an open-market purchase or sale?
The 3,232 AO LTIP Units represent a grant of equity-based compensation, not an open-market purchase or sale. They were awarded at no cash cost under Public Storage’s equity incentive plan, reflecting a compensation-related acquisition rather than a discretionary market trade.