Public Storage: director Ronald L. Havner Jr received 4.45 shares

What happened

• Ronald L. Havner Jr, director, received a grant of 4.45 deferred share units (DSUs) on Oct 6, 2026 at $285.85 per share, valued at $1,272 (transaction code A). The DSUs represent the right to receive common shares.

Key details

• Transaction date and price: Oct 6, 2026 at $285.85 per share; total value $1,272.
• Transaction type: award/grant (code A); classified as an acquisition.
• Shares owned after the transaction: filing notes holdings that include 2,734.99 DSUs and that 4,000 restricted share units remain subject to deferred receipt and are included (see footnote F2).
• Relevant footnotes:
  • F1: DSUs granted in lieu of dividend equivalents under the non-management trustee compensation and deferral program; each DSU equals one common share and will be settled in unrestricted shares upon separation, death, disability, or change of control; dividend equivalents will be issued as additional DSUs.
  • F2: Includes 2,734.99 DSUs and describes postponed receipt of 10,000 vested restricted share units with 4,000 still deferred.
  • F3: Beneficial ownership includes Ronald L. Havner and LeeAnn R. Havner, Trustee of Havner Family Trust.
• Filing date and timeliness: filed Oct 7, 2026 (transaction reported for Oct 6, 2026); the filing does not indicate a late filing.

Why it may matter

• This was a grant of fully vested DSUs (not an open-market purchase or sale); DSUs will be settled in shares later per the plan terms.
• The filing shows beneficial ownership details and deferred compensation mechanics but does not show why the insider traded or why the company acted.