REYES JOHN 4
4 · Public Storage · Filed Apr 2, 2026
Research Summary
AI-generated summary of this filing
Public Storage (PSA) Director John Reyes Receives 123-Share Award
What Happened
John Reyes, a Public Storage (PSA) director, was granted 123 fully-vested deferred share units (DSUs) on 2026-03-31 at a per-share value of $270.88, a grant value of $33,318. This was an award (transaction code A) under the company’s Non-Management Trustee Compensation and Deferral Program and represents compensation rather than an open-market buy or sell.
Key Details
- Transaction date: 2026-03-31; grant price used: $270.88 per share; total value: $33,318.
- Security: 123 deferred share units (DSUs); each DSU equals the right to one common share.
- Filings: Form 4 filed 2026-04-02 (appears to be timely).
- Holdings note: Filing footnote indicates holdings "include 3,314 DSUs" (F2).
- Ownership structure: Reporting person and spouse serve as trustees of the Reyes Trust (F3).
- Transaction type: Award/grant (routine director compensation), not a purchase or sale.
Context
DSUs are deferred compensation that will be settled in unrestricted common shares upon the trustee’s separation from service, earlier death/disability, or an earlier change of control (per footnote). Because this is a compensation grant (not a market purchase), it should be viewed as routine director pay rather than a direct signal of the insider’s near-term trading conviction.
Insider Transaction Report
- Award
Common Shares
[F1][F2]2026-03-31$270.88/sh+123$33,318→ 3,314 total
- 154,685(indirect: By Trust)
Common Shares
[F3]
Footnotes (3)
- [F1]Grant of fully-vested deferred share units (DSUs) pursuant to the Company's Non-Management Trustee Compensation and Deferral Program under the Company's Amended and Restated 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 retainers the reporting person has earned for the applicable calendar quarter and elected to be paid in DSUs, divided by the Company's closing share price on the grant date, rounded up to the nearest DSU. The DSUs will be settled in unrestricted common shares (i) in a lump sum upon the reporting person's separation from service as a trustee or (ii) in a lump sum upon the reporting person's earlier death or disability or upon an earlier change of control of the Company.
- [F2]Includes 3,314 DSUs.
- [F3]Reporting person and spouse, trustees of Reyes Trust, date December 27, 2012.