4//SEC Filing
HAVNER RONALD L JR 4
Accession 0001227384-25-000004
CIK 0001393311other
Filed
Oct 1, 8:00 PM ET
Accepted
Oct 2, 2:05 PM ET
Size
11.1 KB
Accession
0001227384-25-000004
Insider Transaction Report
Form 4
HAVNER RONALD L JR
DirectorVICE CHAIRMAN & CEO
Transactions
- Award
Common Shares
2025-09-30$288.85/sh+4.22$1,219→ 7,717.24 total - Award
LTIP Units
2025-09-30+321→ 147,000.4 total→ Common Shares (321 underlying)
Holdings
- 317,053(indirect: By Trust)
Common Shares
- 1,900(indirect: By Spouse)
Common Shares
Footnotes (6)
- [F1]Grant of fully-vested deferred share units (DSUs) in lieu of dividend equivalents pursuant to the Company's Non-Management Trustee Compensation and Deferral Program under the Company's 2021 Equity and Performance-Based Incentive Compensation Plan. Each DSU represents the right to receive one Company common share. The number of DSUs granted represents the quotient of the dollar amount of the portion of the cash dividend equivalents paid on DSUs for the applicable calendar quarter Mr. Havner has elected to be paid in DSUs, divided by the Company's closing share price on the grant date. The DSUs will be settled in unrestricted common shares (i) in a lump sum upon Mr. Havner's separation from service as a trustee or (ii) in a lump sum upon Mr. Havner's earlier death or disability or upon an earlier change of control of the Company. In accordance with Mr. Havner's election, dividend equivalents paid on these DSUs will be issued as additional DSUs.
- [F2]Includes 2,717.24 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. 5,000 remain subject to deferred receipt and are also included here.
- [F3]Ronald L. Havner and LeeAnn R. Havner, Trustee of Havner Family Trust.
- [F4]Grant of fully-vested membership interests in Public Storage OP, L.P. ("Public Storage OP"), a subsidiary of the Company, designated as LTIP Units ("LTIP Units"), pursuant to the Company's Non-Management Trustee Compensation and Deferral Program under the Company's 2021 Equity and Performance-Based Incentive Compensation Plan. The number of LTIP Units granted represents the quotient of the dollar amount of the portion of the cash retainers the reporting person has earned for the applicable calendar quarter and elected to be paid in LTIP Units, divided by the Company's closing share price on the grant date, rounded up to the nearest LTIP Unit. [footnote continues]
- [F5][footnote continued] LTIP Units are intended to qualify as profits interests for US federal income tax purposes and are convertible, conditioned upon the satisfaction of minimum allocations to the capital account of the LTIP Units for federal income tax purposes, into Common Units in Public Storage OP ("OP Units"). The resulting OP Units may be exchanged by the reporting person for common shares or the equivalent cash value of common shares, as determined by the Company.
- [F6]Includes 143,875.40 vested LTIP Units and 3,125 LTIP Units subject to time-based vesting.
Documents
Issuer
Public Storage
CIK 0001393311
Entity typeother
Related Parties
1- filerCIK 0001227384
Filing Metadata
- Form type
- 4
- Filed
- Oct 1, 8:00 PM ET
- Accepted
- Oct 2, 2:05 PM ET
- Size
- 11.1 KB