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SPOGLI RONALD P 4

Accession 0001393311-24-000099

CIK 0001393311other
View on SEC.govCompany Profile

Filed

Apr 9, 8:00 PM ET

Accepted

Apr 10, 5:34 PM ET

Size

10.1 KB

Accession

0001393311-24-000099

Insider Transaction Report

Form 4
Period: 2024-04-09
Public StoragePSA
SPOGLI RONALD P
Director
Transactions
  • Exercise/Conversion

    LTIP Units

    2024-04-09+2,160.31→ 2,160.31 total
    → Common Shares (2,160.31 underlying)
  • Exercise/Conversion

    AO LTIP Units

    2024-04-09−5,163→ 0 total
    Exercise: $170.60From: 2015-05-01Exp: 2024-04-30→ Common Shares (5,163 underlying)
Holdings

  • Common Shares

    12,382

  • Common Shares

    (indirect: By Trust)
    2,000
Footnotes (5)
  • [F1]Includes 2,219 deferred share units.
  • [F2]By Ronald P. Spogli as trustee.
  • [F3]On March 5, 2024, the reporting person exchanged an option to purchase 5,163 common shares of beneficial interest, par value $0.01 per share ("Common Shares"), of Public Storage (the "Company") for 5,163 limited partnership units in Public Storage OP, L.P. designated as AO LTIP Units ("AO LTIP Units"). AO LTIP Units are similar to "net exercise" stock option awards and are convertible, once vested, into a number of vested limited partnership units of Public Storage OP, L.P. designated as LTIP Units ("LTIP Units"), determined by the quotient of (i) the excess of the value of a Common Share as of the date of the conversion over $170.60, divided by (ii) the value of a Common Share as of the date of conversion. Vested LTIP Units into which AO LTIP Units have been converted are further convertible, [footnote continued]
  • [F4][Continued from footnote] conditioned upon minimum allocations to the capital accounts of the LTIP Units for U.S. federal income tax purposes, into an equal number of limited partnership units in Public Storage OP, L.P. ("OP Units"). The resulting OP Units are redeemable by the holder for one Common Share per OP Unit or the cash value of a Common Share, at the Company's option.
  • [F5]Common Shares are issued upon the redemption of OP Units on a one for one basis. OP Units have no expiration date.

Documents

1 file

Issuer

Public Storage

CIK 0001393311

→
Entity typeother

Related Parties

1
  • filerCIK 0000916867

Filing Metadata

Form type
4
Filed
Apr 9, 8:00 PM ET
Accepted
Apr 10, 5:34 PM ET
Size
10.1 KB
View on SEC.gov