4//SEC Filing
STONE HEISZ LESLIE 4
Accession 0001393311-24-000063
CIK 0001393311other
Filed
Mar 5, 7:00 PM ET
Accepted
Mar 6, 7:02 PM ET
Size
19.9 KB
Accession
0001393311-24-000063
Insider Transaction Report
Form 4
STONE HEISZ LESLIE
Director
Transactions
- Disposition to Issuer
Stock Option (Right to Buy)
2024-03-05−10,327→ 0 totalExercise: $219.87From: 2018-02-23Exp: 2027-02-22→ Common Shares (10,327 underlying) - Disposition to Issuer
Stock Option (Right to Buy)
2024-03-05−5,163→ 0 totalExercise: $211.30From: 2020-04-24Exp: 2029-04-23→ Common Shares (5,163 underlying) - Disposition to Issuer
Stock Option (Right to Buy)
2024-03-05−5,163→ 0 totalExercise: $184.85From: 2021-04-21Exp: 2030-04-20→ Common Shares (5,163 underlying) - Award
AO LTIP Units
2024-03-05+5,163→ 5,163 totalExp: 2029-04-23→ Common Shares (5,163 underlying) - Award
AO LTIP Units
2024-03-05+5,163→ 5,163 totalExp: 2030-04-20→ Common Shares (5,163 underlying) - Award
AO LTIP Units
2024-03-05+10,327→ 10,327 totalExp: 2027-02-22→ Common Shares (10,327 underlying)
Holdings
- 2,453
Common Shares
Footnotes (7)
- [F1]Includes 455 deferred share units.
- [F2]This option was previously reported as an option for 15,000 common shares, par value $0.10 per share ("Common Shares"), of Public Storage (the "Company") at an exercise price of $227.07, but, pursuant to anti-dilution provisions of the Company's 2016 Equity and Performance-Based Incentive Compensation Plan, was adjusted to reflect the special dividend declared by the Company on July 22, 2022. Previously, the reporting person exercised this option as to 5,000 Common Shares. On March 5, 2024, the Company canceled the option upon surrender to the Company by the reporting person (the "2017 Canceled Option").
- [F3]In exchange for the 2017 Canceled Option, the reporting person received a replacement award of membership interests in Public Storage OP, L.P. ("Public Storage OP") designated as AO LTIP Units ("AO LTIP Units"), which AO LTIP Units are intended to qualify as profits interests for US federal income tax purposes. The AO LTIP Units are convertible at the reporting person's election into vested LTIP Units ("LTIP Units") of Public Storage OP, which LTIP Units are intended to qualify as profits interests for US federal income tax purposes. The LTIP Units 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"). The 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.
- [F4]This option was previously reported as an option for 5,000 Common Shares at an exercise price of $218.22, but, pursuant to anti-dilution provisions of the Company's 2016 Equity and Performance-Based Incentive Compensation Plan, was adjusted to reflect the special dividend declared by the Company on July 22, 2022. On March 5, 2024, the Company canceled the option upon surrender to the Company by the reporting person (the "2019 Canceled Option").
- [F5]In exchange for the 2019 Canceled Option, the reporting person received a replacement award of AO LTIP Units, which AO LTIP Units are intended to qualify as profits interests for US federal income tax purposes. The AO LTIP Units are convertible at the reporting person's election into vested LTIP Units that are convertible into 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]This option was previously reported as an option for 5,000 Common Shares at an exercise price of $190.90, but, pursuant to anti-dilution provisions of the Company's 2016 Equity and Performance-Based Incentive Compensation Plan, was adjusted to reflect the special dividend declared by the Company on July 22, 2022. On March 5, 2024, the Company canceled the option upon surrender to the Company by the reporting person (the "2020 Canceled Option").
- [F7]In exchange for the 2020 Canceled Option, the reporting person received a replacement award of AO LTIP Units, which AO LTIP Units are intended to qualify as profits interests for US federal income tax purposes. The AO LTIP Units are convertible at the reporting person's election into vested LTIP Units that are convertible into 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.
Documents
Issuer
Public Storage
CIK 0001393311
Entity typeother
Related Parties
1- filerCIK 0001235408
Filing Metadata
- Form type
- 4
- Filed
- Mar 5, 7:00 PM ET
- Accepted
- Mar 6, 7:02 PM ET
- Size
- 19.9 KB