SEC Form 4 · accession 0001140361-16-053799
Public Storage · PSA
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Ronald L Havner Jr.
Officer — Chairman & CEO · Director
Period of report
Feb 15, 2016
Accepted (ET)
Feb 17, 2016 · 7:28 pm EST
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001393311
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common StockF1,F2 | Feb 15, 2016 | A | 50,000 | $0.00 | A | 160,487 | D | |
| Common StockF3,F4 | holding | — | — | — | 81,069 | I | As Trustee |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Stock Option (right to buy)F5 | $233.61 | Feb 15, 2016 | A | 100,000 | A | Feb 15, 2017 | Feb 15, 2026 | Common Stock | 100,000 | 100,000 | D |
| Stock Option (right to buy)F5 | $198.79 | holding | — | — | — | Feb 19, 2016 | Feb 19, 2025 | Common Stock | 100,000 | 100,000 | D |
| Stock Option (right to buy)F5 | $166.71 | holding | — | — | — | Feb 20, 2015 | Feb 20, 2024 | Common Stock | 100,000 | 100,000 | D |
| Stock Option (right to buy)F5 | $152.01 | holding | — | — | — | Feb 21, 2014 | Feb 21, 2023 | Common Stock | 100,000 | 100,000 | D |
| Stock Option (right to buy)F6 | $50.30 | holding | — | — | — | Mar 2, 2010 | Mar 2, 2019 | Common Stock | 100,000 | 100,000 | D |
| Stock Option (right to buy)F6 | $81.81 | holding | — | — | — | Dec 8, 2008 | Dec 8, 2017 | Common Stock | 83,000 | 83,000 | D |
Explanation of responses
- F1Award of restricted share units that vest in eight (8) equal annual installments beginning one (1) year from the date of grant, except for the first installment which will vest on March 1, 2017.
- F2All are restricted stock units. Mr. Havner has postponed receipt of 10,000 shares of unvested restricted stock units granted on February 19, 2015 with an original vesting date of April 1, 2016, for receipt in 10 equal installments over 10 years starting on each April 1, 2021 to April 1, 2030.
- F316,979 of these shares were previously held directly by the reporting person.
- F4By Ronald L. Havner, Jr. and LeeAnn R. Havner, Trustees of the Havner Family Trust.
- F5Stock Option granted pursuant to the 2007 Equity and Performance-Based Incentive Compensation Plan, as amended. Option vests in five (5) equal annual installments beginning one (1) year from the date of grant.
- F6Stock Option granted pursuant to the 2007 Equity and Performance-Based Incentive Compensation Plan, as amended. Option vests in three (3) equal annual installments beginning one (1) year from the date of grant.