Every Form 4 that Public Storage (PSA) has filed with the SEC in the last 12 months is listed below, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A Form 4 covers the transactions officers, directors and large holders report, so if you follow PSA and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full PSA filings page.
Public Storage (symbol: PSA) is the issuer of record for a Form 4 filing submitted to the SEC. Sheek Samuel Wade reported acquisition or exercise transactions in this Form 4 filing.
Public Storage (PSA) reported that Chief Legal Officer Samuel Wade Sheek received a new-hire equity award of 6,213 LTIP Units in Public Storage OP, L.P. on September 1, 2026. These LTIP Units were granted at $0.00 per unit and are held as a direct derivative position.
The LTIP Units vest in five equal annual installments beginning one year from the grant date. As they vest and upon satisfaction of required capital account allocations for tax purposes, the LTIP Units become convertible into OP Units, which may then be exchanged by Mr. Sheek for either Public Storage common shares or the equivalent cash value of those shares, as determined by the company. No Rule 10b5-1 trading plan is reported for this award.
Public Storage Chief Legal Officer Nathaniel A. Vitan sold 1,414 Common Shares on August 13, 2026 in a sale categorized as an open market or private transaction at a weighted average price of $327.5342 per share. Following this transaction, he held no Common Shares directly.
Public Storage executive Natalia Johnson (CD&TO) reported two equity award conversions. On July 28, 2026 she exercised 10327 AO LTIP Units with a $225.38 threshold, eliminating that position, and acquired 3284 LTIP Units, bringing her direct LTIP Unit holdings to 26493, including 9398 subject to time-based vesting.
Public Storage director Ronald L. Havner Jr. reported two equity incentive conversions. On July 29, 2026, he exercised 103,275 AO LTIP Units linked to options with a $219.07 conversion threshold, eliminating that AO LTIP position. He also converted 34,599.51 LTIP Units into Common Share–linked partnership interests and now directly holds 182,393.91 LTIP Units, which are ultimately redeemable one-for-one into Public Storage Common Shares or cash at the company’s option.
Public Storage director Luke J. Petherbridge reported receiving 126 LTIP Units as equity compensation. These fully vested membership interests in Public Storage OP, L.P. were granted at a stated price of $0.00 per unit under the company’s Non-Management Trustee Compensation and Deferral Program.
The number of LTIP Units granted is based on the portion of the director’s quarterly cash retainers he elected to receive in LTIP Units, divided by the company’s closing share price on the grant date and rounded up. Following this grant, he holds a total of 462 LTIP Units. The LTIP Units are intended to qualify as profits interests for U.S. federal income tax purposes and can convert into OP Units, which may then be exchanged for common shares or their cash equivalent.
Mitra Shankh reported acquisition or exercise transactions in this Form 4 filing.
Public Storage director Mitra Shankh received 305 common shares as equity compensation for service in the applicable calendar quarter. The shares are unrestricted and were granted under the company’s Non-Management Trustee Compensation and Deferral Program within the Amended and Restated 2021 Equity and Performance-Based Incentive Compensation Plan.
The number of shares granted was calculated by dividing the dollar amount of cash retainers elected to be paid in stock by the company’s closing share price of $318.31 on the grant date, then rounding up. After this award, Shankh directly holds a total of 9,329 common shares.
WILLIAMS PAUL S reported acquisition or exercise transactions in this Form 4 filing.
Public Storage director Paul S. Williams reported an award of 46 common share-equivalent deferred share units (DSUs). The DSUs were valued using a reference share price of $318.31, and each DSU represents the right to receive one Public Storage common share in the future.
After this grant, Williams holds a total of 1,478 DSUs. These DSUs are part of the company’s Non-Management Trustee Compensation and Deferral Program and will be settled in unrestricted common shares in a lump sum after he separates from service as a trustee, or earlier upon death, disability, or a change of control of the company.
SPOGLI RONALD P reported acquisition or exercise transactions in this Form 4 filing.
Public Storage trustee Ronald P. Spogli reported routine equity compensation awards rather than market purchases or sales. He received 5.58 fully vested deferred share units in lieu of dividend equivalents, based on the company’s closing share price of $318.31 on the grant date.
Spogli was also granted 145 fully vested LTIP Units instead of a portion of his cash retainers for the quarter. Each deferred share unit and each resulting OP Unit ultimately represents the right to receive one Public Storage common share or its cash equivalent under the company’s plans.
After these awards, Spogli directly holds 12,833.5 common shares, including 2,670.5 deferred share units, plus 6,054.6 LTIP Units. He also indirectly holds 2,000 common shares by trust, where he serves as trustee.
Public Storage director Ronald L. Havner Jr. reported routine equity-based compensation and updated indirect holdings. He received 3.95 common share-equivalent deferred share units (DSUs) in lieu of cash dividend equivalents at a reference price of $318.31 per share, under the company’s trustee compensation and deferral program.
He also received 95 LTIP Units in Public Storage OP, L.P. as quarterly retainers elected to be paid in equity. These LTIP Units are designed as profits interests and can convert into operating partnership units and ultimately common shares or equivalent cash. Following these awards, he directly holds 6,730.54 common shares (including deferred units) and indirectly holds additional shares through a spouse IRA and the Havner Family Trust.
Public Storage Chief Legal Officer Nathaniel A. Vitan sold 950 Common Shares of the company in an open-market transaction at $324.8101 per share on June 12, 2026. After this sale, he continues to hold 1,414 Common Shares directly.
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.
Public Storage director Luke J. Petherbridge received a grant of 3,232 AO LTIP Units in Public Storage OP, L.P. under the Amended and Restated Public Storage 2021 Equity and Performance-Based Incentive Compensation Plan. The award was granted at $0.00 per unit and vests in full one year from the grant date.
Once vested, these AO LTIP Units may be converted at his election into LTIP Units of Public Storage OP, which can then convert into OP Units. OP Units may be exchanged for Public Storage common shares or an equivalent cash amount, making this a multi-step equity-based compensation award rather than an open-market purchase or sale.
Public Storage director Paul S. Williams received an equity-based award of 3,232 AO LTIP Units tied to common shares. The award was granted at a conversion or exercise price of $308.98 per underlying common share and represents 3,232 underlying Public Storage common shares.
The AO LTIP Units were granted under the Amended and Restated Public Storage 2021 Equity and Performance-Based Incentive Compensation Plan and vest in full one year from the grant date. After vesting and meeting tax allocation conditions, the units can ultimately be exchanged for Public Storage common shares or the cash equivalent.
Public Storage director Ronald P. Spogli received an equity award of 3,232 AO LTIP Units tied to Public Storage OP, L.P. The award was granted at a price of $0.00 per unit 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 a series of partnership-unit conversions, into Public Storage common shares or the equivalent cash value, based on a conversion price of $308.98 per underlying common share. Following the award, Spogli holds 3,232 AO LTIP Units directly.
Public Storage director Tamara Hughes Gustavson received an equity-based award linked to company units. She was granted 3,232 AO LTIP Units of Public Storage OP, L.P. on May 6, 2026 at a stated price of $0.00 per unit.
The AO LTIP Units vest in full one year from the grant date and can then be converted, through several partnership-unit steps, into Public Storage common shares or an equivalent cash value, subject to tax-related capital account conditions.
Public Storage director Rebecca L. Owen reported receiving an equity-based award tied to the company’s operating partnership. She was granted 3,232 AO LTIP Units of Public Storage OP, L.P. at no cost under the Amended and Restated Public Storage 2021 Equity and Performance-Based Incentive Compensation Plan, bringing her total AO LTIP Units to 3,232.
The AO LTIP Units vest in full one year from the grant date. Once vested, they may be converted at her election into LTIP Units and then into OP Units, which can be exchanged for Public Storage common shares or the cash equivalent, subject to federal income tax allocation conditions.
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.
POLADIAN AVEDICK BARUYR reported acquisition or exercise transactions in this Form 4 filing.
Public Storage director Avedick Baruyr Poladian received a compensation award of 3,232 AO LTIP Units linked to common shares. The award was granted on May 6, 2026 at no cash cost to him and represents a derivative interest in Public Storage OP, L.P.
The AO LTIP Units vest in full one year after the grant date and are ultimately convertible into an equal number of Public Storage common shares or their cash value through OP Units. After this grant, he holds 3,232 AO LTIP Units directly, with no open-market share purchase or sale reported.
Public Storage director Shaukat Tariq M received a grant of 3,232 AO LTIP Units in Public Storage OP, L.P. under the Amended and Restated Public Storage 2021 Equity and Performance-Based Incentive Compensation Plan. These units vest in full one year from the grant date.
Once vested and after certain tax allocation conditions are met, the AO LTIP Units can be converted into LTIP Units, then into OP Units, which the director may exchange for Public Storage common shares or cash equal to their value. Following this award, he holds 3,232 AO LTIP Units directly.
Public Storage director Ronald L. Havner Jr. received a grant of 3,232 AO LTIP Units on May 6, 2026 under the Amended and Restated Public Storage 2021 Equity and Performance-Based Incentive Compensation Plan. The award was granted at no cost to him.
The AO LTIP Units vest in full one year from the grant date and are initially convertible into LTIP Units of Public Storage OP at Havner’s election. Subject to tax-allocation conditions, those LTIP Units can be converted into OP Units, which may then be exchanged for Public Storage common shares or an equivalent cash amount. The AO LTIP Units carry a stated conversion or exercise price of $308.98 and expire on May 5, 2036.
Public Storage director Kristy Pipes received a new equity award. She was granted 3,232 AO LTIP Units of Public Storage OP, L.P. 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 structured as profits interests for U.S. federal income tax purposes.
Once vested, these AO LTIP Units can be converted at her election into LTIP Units of Public Storage OP, then into OP Units, which may be exchanged for Public Storage common shares or the cash value of those shares. The award has a conversion or exercise price of $308.98 per underlying common share and an expiration date in 2036.
Public Storage director Ronald P. Spogli exercised derivative awards tied to company equity. On this Form 4, he exercised 971.88 LTIP Units and 5,163 AO LTIP Units, each convertible into the same number of Common Shares through OP Units, using a “net exercise” structure described in the footnotes.
After the transactions, he directly holds 5,909.6 LTIP Units and no AO LTIP Units. According to the footnotes, vested LTIP Units can become OP Units, which are redeemable at the holder’s election for either one Common Share per OP Unit or the cash value of a Common Share, at the company’s option.
Public Storage director Avedick Baruyr Poladian exercised equity awards into common share equivalents through LTIP-based partnership units. On April 20, 2026, he exercised 1,023.44 LTIP Units and 5,163 AO LTIP Units, representing derivative rights over an aggregate 6,186.44 underlying Common Shares.
The AO LTIP Units had a conversion price of $250.29 per unit and were fully exercised, leaving no AO LTIP Units outstanding. Following the LTIP transaction, he held 4,784.71 LTIP Units, which are structured to convert into OP Units and then into Common Shares or cash at the company’s option, as described in the footnotes.
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.
Public Storage director Avedick B. Poladian reported a series of bona fide gift transfers of the company’s common shares. On April 10, 2026, he recorded six gift transactions covering a total of 12,000 shares, including transfers of 2,000 shares to each of three AMMEA trusts where he serves as trustee. Following these changes, he holds 24,163 shares directly, 2,000 shares in each of the three trusts, and 1,000 shares indirectly through an IRA.
Public Storage director Ronald P. Spogli reported stock-based compensation awards rather than open-market trades. He received 174 LTIP Units tied to Public Storage OP, L.P. and 6.5 common shares as fully vested awards for quarterly retainers and dividend equivalents under the company’s trustee compensation and deferral programs.
After these awards, he holds 4,937.72 LTIP Units and 12,827.92 common shares directly, plus 2,000 common shares held indirectly by a trust. The LTIP Units and deferred share units are designed to convert into common equity or cash under specified conditions, aligning trustee compensation with shareholder interests.
HAVNER RONALD L JR reported acquisition or exercise transactions in this Form 4 filing.
Public Storage director Ronald L. Havner Jr. reported compensation-related equity awards rather than market trades. On March 31, 2026, he received 342 LTIP Units in Public Storage OP, L.P. and 4.6 common shares via fully vested deferred share units (DSUs) valued at $270.88 per share, both under the company’s Non-Management Trustee Compensation and Deferral Program.
After these awards, Havner directly holds 147,699.4 LTIP Units and 7,726.59 common shares, including 2,726.59 DSUs. He also has indirect holdings of 317,053 common shares through a family trust and 1,900 common shares through a spouse IRA.
PETHERBRIDGE LUKE J reported acquisition or exercise transactions in this Form 4 filing.
Public Storage director Luke J. Petherbridge received 128 LTIP Units as equity compensation. These fully vested membership interests in Public Storage OP, L.P. were granted under the company’s Non-Management Trustee Compensation and Deferral Program in lieu of a portion of his quarterly cash retainers, using the closing share price on the grant date to determine the number of units.
The LTIP Units are intended to qualify as profits interests for U.S. federal income tax purposes and are convertible, after certain tax-related allocation conditions are met, into OP Units of Public Storage OP. Those OP Units may then be exchanged by Petherbridge for Public Storage common shares or the cash value of those shares. Following this grant, he holds 336 LTIP Units in total.
Public Storage director Mitra Shankh received 128 common shares as equity compensation. The shares were granted at a reference price of $270.88 per share under the company’s Non-Management Trustee Compensation and Deferral Program.
The grant represents board retainers that Shankh elected to take in stock instead of cash, and brings the director’s direct holdings to 9,024 common shares. This is a routine, compensation-related acquisition rather than an open-market purchase.
WILLIAMS PAUL S reported acquisition or exercise transactions in this Form 4 filing.
Public Storage director Paul S. Williams received a grant of 54 fully vested deferred share units (DSUs), calculated using the closing share price of $270.88 on the grant date. Each DSU represents one common share, bringing his total DSU holdings to 1,432 units.
REYES JOHN reported acquisition or exercise transactions in this Form 4 filing.
Public Storage director John Reyes received 123 common share equivalents as fully vested deferred share units (DSUs) under the company’s Non-Management Trustee Compensation and Deferral Program. The grant value was based on the company’s closing share price of $270.88 on the grant date.
After this award, Reyes holds 3,314 DSUs directly, each representing the right to receive one Public Storage common share. The DSUs will be settled in unrestricted shares in a lump sum when he leaves the board, or earlier upon death, disability, or a change of control. He also has indirect ownership of 154,685 common shares held by the Reyes Trust.
Public Storage Chief Legal Officer Nathaniel A. Vitan received new equity awards in the form of AO LTIP Units and LTIP Units. On March 15, 2026, he was granted 12,986 AO LTIP Units tied to a performance period from 2023 to 2026, replacing a prior stock option award with an exercise price of $288.56 per share. The compensation committee certified performance at 100% of target for this award.
He also received 3,368 LTIP Units, partly subject to time-based vesting, with three-fifths scheduled to vest on March 20, 2026 and the rest vesting ratably over the next two years. Following these grants, he holds 56,211.90 LTIP Units, including 50,007.90 that are vested and 6,204 subject to time-based vesting, plus 2,364 Public Storage common shares held directly. These awards are compensation grants, not open-market purchases or sales.
Public Storage President and CEO Joseph D. Russell Jr. reported new equity-based awards tied to company performance rather than any open-market trading. He received 40,555 AO LTIP Units in Public Storage OP, L.P. and 10,520 LTIP Units, both granted at a price of $0.00 per unit as compensation.
The AO LTIP Units carry a conversion reference price of $288.56 per underlying common share and are linked to a three-year 2023–2026 performance period that was certified at 100% of target. Three-fifths of one award will vest on March 20, 2026, with the remainder vesting ratably over the following two years.
These AO LTIP Units and LTIP Units are structured as profits interests that can ultimately be converted into operating partnership units and then exchanged for Public Storage common shares or cash. After these awards, Russell directly holds 19,096 common shares and a total of 106,395.82 LTIP Units, including both vested and time-based awards.
Public Storage corporate officer Natalia Johnson received new equity awards linked to company performance. She was granted 25,551 AO LTIP Units with an underlying conversion price of $288.56 per common share equivalent, expiring on March 14, 2033, and 6,584 additional LTIP Units.
These awards reflect performance-based replacements for prior option and restricted share unit grants covering the 2023–2026 performance period, with performance certified at 100% of target on March 15, 2026. Three-fifths of one award vests on March 20, 2026, with the balance vesting ratably over the next two years.
Boyle Tom reported acquisition or exercise transactions in this Form 4 filing.
Public Storage Chief Investment Officer Tom Boyle received equity-based awards of 34,068 AO LTIP Units and 8,837 LTIP Units in Public Storage OP under the 2021 incentive plan. These AO LTIP and LTIP Units are intended to qualify as profits interests and can ultimately be exchanged for Public Storage common shares or their cash value after tax-related capital account conditions are met.
The awards are performance-based replacements for prior option and restricted share unit grants tied to a 2023–2026 performance period, with performance certified at 100% of target. Three-fifths of the AO LTIP Units will vest on March 20, 2026, with the balance vesting ratably over the next two years. Following these grants, Boyle holds 34,068 AO LTIP Units, 32,286 LTIP Units (18,885 vested and 13,401 subject to time-based vesting), and 10,227 common shares, highlighting a compensation-driven increase in his equity-linked exposure rather than any open‑market buying or selling.
Public Storage director Rebecca L. Owen reported exercising equity-based awards tied to 5,495.57 common shares of the company. These transactions involved the exercise or conversion of AO LTIP Units and LTIP Units into common share equivalents, with no open-market purchases or sales reported in this filing.
The AO LTIP Units carry an exercise or conversion price of $210.48 per common share and function similarly to net-exercise stock option awards, ultimately settling in limited partnership units that are redeemable for Public Storage common shares or their cash value at the company’s option.
Public Storage director Paul S. Williams reported two equity incentive transactions involving partnership-based units linked to the company’s common shares. On the reported date, he exercised or converted derivative awards for 6,000 AO LTIP Units and separately for 1,685.15 LTIP Units, all held directly.
The footnotes explain that AO LTIP Units function like “net exercise” stock options. Once vested, they can convert into LTIP Units based on the increase in Public Storage’s common share value over $223.61. Vested LTIP Units may then convert into OP Units, which are redeemable, at the company’s option, for either one common share per OP Unit or cash equal to the value of one common share.
Public Storage Chief Investment Officer Tom Boyle reported an amended equity award. On February 10, 2026, he acquired 229,621 AO LTIP Units of Public Storage OP, L.P. as a promotion award under the company’s 2021 equity and performance-based incentive plan at a stated price of $0.0000 per unit.
The amendment corrects an earlier Form 4 that overstated the number of AO LTIP Units granted. According to the filing, 60% of these AO LTIP Units vest on the sixth anniversary of the grant date, with the remaining 40% vesting ratably over the following two years. Once vested and subject to tax allocation conditions, they can ultimately be exchanged for Public Storage common shares or equivalent cash value.
Public Storage director Ronald L. Havner Jr. bought 112,258 OP Options in a private transaction on February 20, 2026. Each OP Option was purchased at $44.54 and gives the right to acquire common units of Public Storage OP, L.P. The OP Options become fully exercisable on the sixth anniversary of the settlement date. OP Units received upon exercise may later be exchanged for Public Storage common shares or the equivalent cash value.
Public Storage director Mitra Shankh privately bought 561,293 OP Options from Public Storage OP, L.P. at $44.54 per option. These out-of-the-money non-qualified OP Options become fully exercisable on the sixth anniversary of the settlement date.
Each OP Option relates to OP Units of Public Storage OP, which the reporting person may later exchange for Public Storage common shares or the cash value equivalent of those shares.
Public Storage director John Reyes reported equity incentive activity involving partnership units tied to the company’s common shares. He exercised or converted 28,275 AO LTIP Units at a price of $0.00 per unit, and separately received a grant of 6,980.49 LTIP Units, also at $0.00 per unit. Following these derivative acquisitions, he directly holds 76,582.65 LTIP and/or related OP Units, which represent interests that can ultimately be redeemed for Public Storage common shares or their cash value under the partnership structure.
Public Storage executive Tom Boyle, the company’s CFO and CIO, received a promotion-related grant of 242,248 AO LTIP Units in Public Storage OP, L.P. on February 10, 2026. These units were awarded at a price of $0 per unit as equity-based compensation.
The AO LTIP Units vest 60% on the sixth anniversary of the grant date, with the remaining 40% vesting ratably over the following two years. They become exercisable as to 60% on February 10, 2032, 20% on February 10, 2033, and 20% on February 10, 2034, and are scheduled to expire on February 9, 2036.
Public Storage director John Reyes reported derivative unit conversions into common shares. On February 6, 2026, he exercised 25,000 AO LTIP Units, each tied to Public Storage common shares, at a reference value of $226.20 per share as described in prior award terms.
He also converted 5,296.17 LTIP Units into an equal number of common shares on the same date at a price of $0, reflecting a non-cash redemption of partnership units. Following these moves, he held 28,275 AO LTIP Units and 69,602.16 LTIP/LTIP-related units directly, which can ultimately be redeemed for Public Storage common shares under the partnership structure.
Public Storage President and CEO Russell Joseph Jr. reported an equity award of 25,207 LTIP Units on January 27, 2026 under the company’s 2026 named executive officer compensation program. These LTIP Units vest in three equal annual installments starting one year after the grant date.
Once vested and after certain tax-related allocation conditions are met, the LTIP Units can convert into OP Units of Public Storage OP, L.P., which the executive may exchange for Public Storage common shares or the cash value of those shares. Following this grant, he beneficially owns 95,875.82 LTIP Units, including 55,046.82 vested units and 40,829 subject to time-based vesting.
Public Storage director John Reyes reported equity award conversions. On January 22, 2026, he exercised 50,000 AO LTIP Units into derivative securities tied to 50,000 Common Shares, originally based on an option with a reference price of $226.20 per share. On the same date, he also converted 10,534.58 LTIP Units into derivative securities tied to 10,534.58 Common Shares at a stated price of $0 per unit. Following these transactions, he held 53,275 AO LTIP Units and 64,305.99 LTIP Units, which are ultimately exchangeable into OP Units and then redeemable one-for-one for Common Shares or their cash value at the company’s option.
Public Storage director equity awards and holdings update. A Public Storage (PSA) director reported receiving 4.75 fully vested deferred share units (DSUs) on 12/30/2025 at a reference price of $261.13 per share, bringing directly held common shares (including DSUs) to 7,721.99 and additional indirect holdings of 317,053 shares through a family trust and 1,900 shares through a spouse IRA.
The director also received 357 fully vested LTIP Units in Public Storage OP, L.P. for quarterly retainers, contributing to 147,357.4 LTIP Units beneficially owned. DSUs will be settled in unrestricted common shares upon separation from board service, death, disability, or a change of control, while LTIP Units are intended as profits interests that can convert into OP Units and then into common shares or cash value, subject to tax-related allocation conditions.
Public Storage director equity compensation and holdings updated. Director Ronald P. Spogli received 6.7 fully vested deferred share units (DSUs) on 12/30/2025 in lieu of cash dividend equivalents at a price of $261.13 per share under the company’s 2021 incentive plan. After this transaction, he beneficially owned 12,821.42 common shares directly, including 2,658.42 DSUs, and 2,000 common shares indirectly through a trust he serves as trustee.
Spogli also acquired 164 fully vested LTIP Units in Public Storage OP, L.P. on 12/31/2025 as part of his non-management trustee retainers, bringing his total derivative securities holdings to 4,763.72. Each DSU represents the right to receive one Public Storage common share, and LTIP Units are intended as profits interests that can become OP Units and then be exchanged for common shares or their cash value, subject to tax-related allocation conditions.
Public Storage director reports deferred share unit grant
A director of Public Storage reported receiving 128 fully vested deferred share units (DSUs) on 12/31/2025 under the company’s Non-Management Trustee Compensation and Deferral Program, at a reference share price of $259.5. Each DSU represents the right to receive one common share of Public Storage.
After this grant, the director beneficially owns 3,191 common shares in the form of DSUs directly and an additional 154,685 common shares indirectly through a trust. The DSUs will be settled in unrestricted common shares in a lump sum when the director leaves the board, or earlier upon death, disability, or a change of control of the company.
Public Storage reported that one of its directors acquired additional equity-based compensation. On 12/31/2025, the director received 77 fully-vested deferred share units (DSUs) under the company’s Non-Management Trustee Compensation and Deferral Program, part of its Amended and Restated 2021 Equity and Performance-Based Incentive Compensation Plan. The grant was valued using the company’s closing share price of $259.5 on the grant date.
Each DSU represents the right to receive one Public Storage common share. The DSUs will be settled in unrestricted common shares in a lump sum after the director’s separation from service as a trustee, or earlier upon death, disability, or a change of control of the company. Following this grant, the director beneficially owns 1,378 DSUs directly.
Public Storage director reports small stock grant under equity plan
A director of Public Storage reported receiving 128 common shares on 12/31/2025 at a price of $259.50 per share. After this grant, the director beneficially owns 8,896 common shares, held directly.
The shares were granted as unrestricted common stock under Public Storage's Non-Management Trustee Compensation and Deferral Program, part of the company's Amended and Restated 2021 Equity and Performance-Based Incentive Compensation Plan. The number of shares reflects the dollar amount of the director’s quarterly cash retainers that was elected to be paid in stock, divided by the company’s closing share price on the grant date and rounded up.