SEC Form 4 · accession 0001793636-26-000005
Public Storage · PSA
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Samuel Wade Sheek
Officer — Chief Legal Officer
Period of report
Sep 1, 2026
Accepted (ET)
Sep 3, 2026 · 1:54 pm EDT
Rule 10b5-1 plan
box not checked
Issuer CIK
0001393311
Table I — non-derivative securities
No Table I lines on this filing.
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| LTIP UnitsF1 | — | Sep 1, 2026 | A | 6,213 | A | — | — | Common Shares | 6,213 | 6,213 | D |
Explanation of responses
- F1Reflects a new hire award of membership interests in Public Storage OP, L.P. ("Public Storage OP"), a subsidiary of Public Storage (the "Company"), designated as LTIP Units ("LTIP Units"), which LTIP Units are intended to qualify as profits interests for US federal income tax purposes. The LTIP Units vest in five equal annual installments beginning one year from the grant date. The LTIP Units, if and as they become vested, are convertible, conditioned upon the satisfaction of minimum allocations to the capital account of the LTIP Units for federal income tax purposes, into common units in Public Storage OP ("OP Units"). The resulting OP Units may be exchanged by the reporting person for common shares, par value $0.10 per share, of the Company or the equivalent cash value of common shares, as determined by the Company.