Owen Rebecca L 4
4 · Public Storage · Filed May 8, 2026
Research Summary
AI-generated summary of this filing
Public Storage (PSA) Director Rebecca L. Owen Receives Award
What Happened Rebecca L. Owen, a director of Public Storage (PSA), received an award of 3,232 AO LTIP Units (a derivative equity award) on May 6, 2026. The grant price is listed as $0.00 (no cash paid). The award is a grant of membership interests under the Public Storage 2021 Equity and Performance‑Based Incentive Compensation Plan.
Key Details
- Transaction date: 2026-05-06; Form 4 filed: 2026-05-08 (filed within typical two business‑day window).
- Award: 3,232 AO LTIP Units; reported acquisition price: $0.00; total immediate cash value reported: $0.
- Ownership after transaction: not specified in the provided details.
- Footnote: AO LTIP Units vest in full one year from the grant date; vested AO LTIP Units may be converted (at the holder’s election) into LTIP Units and, subject to tax‑allocation conditions, into OP Units (common‑unit equivalent) which can be exchanged for Public Storage common shares or cash. AO LTIP/LTIP Units are intended to qualify as profits interests for U.S. federal tax purposes.
Context This is a grant/award (not an open‑market purchase or sale) and does not represent an immediate cash transaction or sale of shares. The units vest one year from grant and then require additional conversion steps and tax conditions before becoming common shares or cash, so any economic value is contingent on vesting and future conversions.
Insider Transaction Report
- Award
AO LTIP Units
[F1]2026-05-06+3,232→ 3,232 totalExercise: $308.98From: 2027-05-06Exp: 2036-05-05→ Common Shares (3,232 underlying)
Footnotes (1)
- [F1]Reflects an award of membership interests in Public Storage OP, L.P. ("Public Storage OP") designated as AO LTIP Units ("AO LTIP Units") granted pursuant to the Amended and Restated Public Storage 2021 Equity and Performance-Based Incentive Compensation Plan. The AO LTIP Units vest in full one (1) year from the grant date. Vested AO LTIP Units are convertible at the reporting person's election into vested LTIP Units ("LTIP Units") of Public Storage OP, which are convertible, conditioned upon the satisfaction of minimum allocations to the capital accounts of the LTIP Units for federal income tax purposes, into Common Units in Public Storage OP ("OP Units"). OP Units may be exchanged by the reporting person for Public Storage common shares or the equivalent cash value of common shares, as determined by Public Storage. AO LTIP Units and LTIP Units are intended to qualify as profits interests for US federal income tax purposes.