GUSTAVSON TAMARA HUGHES 4

Accession 0001393311-24-000129

CIK 0001393311other

View on SEC.gov Company Profile

Filed

May 7, 8:00 PM ET

Accepted

May 8, 8:34 PM ET

Size

31.9 KB

Accession

0001393311-24-000129

Insider Transaction Report

Form 4

Period: 2024-05-07

Public StoragePSA

GUSTAVSON TAMARA HUGHES

Director10% Owner

Transactions

Award
AO LTIP Units
2024-05-07+5,163→ 5,163 total
Exp: 2030-04-20→ Common Shares (5,163 underlying)
Award
AO LTIP Units
2024-05-07+5,163→ 5,163 total
Exp: 2032-04-27→ Common Shares (5,163 underlying)
Disposition to Issuer
Stock Option (Right to Buy)
2024-05-07−5,163→ 0 total
Exercise: $386.32From: 2023-04-28Exp: 2032-04-27→ Common Shares (5,163 underlying)
Disposition to Issuer
Stock Option (Right to Buy)
2024-05-07−5,000→ 0 total
Exercise: $286.81From: 2024-05-02Exp: 2033-05-01→ Common Shares (5,000 underlying)
Award
AO LTIP Units
2024-05-07+3,600→ 3,600 total
Exercise: $273.20From: 2025-05-07Exp: 2034-05-06→ Common Shares (3,600 underlying)
Disposition to Issuer
Stock Option (Right to Buy)
2024-05-07−5,163→ 0 total
Exercise: $184.85From: 2021-04-21Exp: 2030-04-20→ Common Shares (5,163 underlying)
Disposition to Issuer
Stock Option (Right to Buy)
2024-05-07−5,163→ 0 total
Exercise: $266.40From: 2022-04-26Exp: 2031-04-25→ Common Shares (5,163 underlying)
Award
AO LTIP Units
2024-05-07+5,163→ 5,163 total
Exp: 2031-04-25→ Common Shares (5,163 underlying)
Award
AO LTIP Units
2024-05-07+5,000→ 5,000 total
Exp: 2033-05-01→ Common Shares (5,000 underlying)

Holdings

Common Shares
14,150,617
Common Shares
(indirect: By Trust)
2,785,000
Common Shares
(indirect: By LLC)
295,000
Common Shares
(indirect: By Spouse)
1,300
Common Shares
11,348
Common Shares
5,500
Common Shares
(indirect: By IRA)
27,343

Footnotes (15)

[F1]By Tamara Hughes Gustavson and B. Wayne Hughes, Jr. - Separate Property.
[F10]In exchange for the 2021 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.
[F11]This option was previously reported as an option for 5,000 Common Shares at an exercise price of $398.97, but, pursuant to anti-dilution provisions of the Company's 2021 Equity and Performance-Based Incentive Compensation Plan, was adjusted to reflect the special dividend declared by the Company on July 22, 2022. On May 7, 2024, the Company canceled the option upon surrender to the Company by the reporting person (the "2022 Canceled Option").
[F12]This option becomes exercisable as to one-third on each of the first, second, and third anniversaries of the grant date.
[F13]In exchange for the 2022 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.
[F14]On May 7, 2024, the Company canceled the option upon surrender to the Company by the reporting person (the "2023 Canceled Option").
[F15]In exchange for the 2023 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.
[F2]By reporting person and husband.
[F3]By custodian of an IRA for benefit of reporting person.
[F4]By LLC of which reporting person is a member and manager.
[F5]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 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, par value $0.10 per share ("Common Shares") or the equivalent cash value of Common Shares, as determined by Public Storage (the "Company"). AO LTIP Units and LTIP Units are intended to qualify as profits interests for US federal income tax purposes.
[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 May 7, 2024, the Company canceled the option upon surrender to the Company by the reporting person (the "2020 Canceled Option").
[F7]This option became exercisable as to one-third on each of the first, second, and third anniversaries of the grant date.
[F8]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.
[F9]This option was previously reported as an option for 5,000 Common Shares at an exercise price of $275.12, but, pursuant to anti-dilution provisions of the Company's 2021 Equity and Performance-Based Incentive Compensation Plan, was adjusted to reflect the special dividend declared by the Company on July 22, 2022. On May 7, 2024, the Company canceled the option upon surrender to the Company by the reporting person (the "2021 Canceled Option").

Documents

1 file

4
wk-form4_1715214846.xmlPrimary
FORM 4

Issuer

Public Storage

CIK 0001393311

→

Entity typeother

Related Parties

filerCIK 0001322750

Filing Metadata

Form type: 4
Filed: May 7, 8:00 PM ET
Accepted: May 8, 8:34 PM ET
Size: 31.9 KB

View on SEC.gov