HAVNER RONALD L JR 4

What Happened Ronald L. Havner Jr., a director of Public Storage (PSA), disposed of 266 shares on April 1, 2026 to satisfy a tax withholding/payment obligation tied to previously granted equity awards. The shares were disposed at $276.24 per share for a total of approximately $73,480. This transaction is coded as payment of exercise price or tax liability (F) — a routine withholding sale rather than a market-driven divestiture.

Key Details

• Transaction date: 2026-04-01; Form 4 filed: 2026-04-03 (timely filing).
• Disposition: 266 shares at $276.24 per share; total value ≈ $73,480.
• Transaction code: F — payment of exercise price or tax liability (shares used to cover taxes/withholding).
• Shares owned after transaction: not specified in the filing.
• Footnotes: F1 notes inclusion of 2,726.59 deferred share units and that Mr. Havner postponed receipt of 10,000 vested RSUs (originally vesting 4/1/2016) to be paid in 10 annual installments (2021–2030); 4,000 RSUs remain subject to deferred receipt and are included. F2 indicates joint filing with LeeAnn R. Havner, Trustee of the Havner Family Trust.

Context Withholding sales to cover taxes are common after vesting or option exercises and are generally considered administrative rather than a signal of insider sentiment. This was not an open-market discretionary sale; it satisfied tax obligations associated with equity compensation.