Welcome to our dedicated page for Public Storage SEC filings (Ticker: PSA), a comprehensive resource for investors and traders seeking official regulatory documents including 10-K annual reports, 10-Q quarterly earnings, 8-K material events, and insider trading forms.
Public Storage filings document the regulatory disclosures of a self-storage REIT with common shares listed on the New York Stock Exchange and multiple series of preferred and depositary shares. The company’s reports cover material events, operating and financial results, capital-structure disclosures, securities registered under Section 12(b), and debt-related instruments.
Its SEC record also includes proxy materials addressing trustee elections, executive compensation, shareholder voting matters, and governance practices. Form 8-K filings provide event-driven disclosures on dividends, agreements, financing or security matters, and other corporate actions connected to Public Storage’s REIT structure and self-storage operations.
The Vanguard Group has filed an amended Schedule 13G indicating passive ownership of Public Storage common stock. Vanguard reports beneficial ownership of 25,340,935 shares, representing 14.44% of the outstanding common stock, with no sole voting or dispositive power.
Vanguard reports shared voting power over 1,664,440 shares and shared dispositive power over all 25,340,935 shares. The securities are held for clients in the ordinary course of business, and Vanguard certifies they are not held to change or influence control of Public Storage.
The filing also notes an internal realignment effective January 12, 2026, under which The Vanguard Group, Inc. no longer performs portfolio management or proxy voting, and certain subsidiaries or divisions are expected to report beneficial ownership on a disaggregated basis while pursuing the same investment strategies as before.
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 furnished an investor presentation with an operating update for the three months and year ended December 31, 2025, and disclosed recent acquisition activity. For the quarter, tenants moving in paid an average annual contract rent of $11.60 per square foot, down from $12.97 a year earlier, while same-store square foot occupancy at December 31 improved to 91.0% from 90.5%. For the full year, contract rents gained from move-ins were $1,591,846 thousand and contract rents lost from move-outs were $2,508,451 thousand, reflecting softer pricing but ongoing tenant turnover. The company also acquired 87 self-storage facilities with 6.1 million net rentable square feet for $942.2 million for the year ended December 31, 2025, expanding its portfolio.
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.
Public Storage reported an equity compensation grant to one of its directors. On 12/31/2025, the director received 128 LTIP Units in Public Storage OP, L.P. 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 number of LTIP Units was calculated by dividing the portion of quarterly cash retainers the director elected to receive in equity by the company’s closing share price on the grant date, and rounding up to the nearest unit.
The LTIP Units are intended to be profits interests for U.S. federal income tax purposes and can be converted, after certain tax allocation conditions are met, into OP Units of Public Storage OP. Those OP Units may then be exchanged by the director for Public Storage common shares or the cash value equivalent, as determined by the company. Following this grant, the director beneficially owned 208 derivative securities reported on this form in direct ownership.