0001393311-24-000051.txt : 20240221 0001393311-24-000051.hdr.sgml : 20240221 20240221125519 ACCESSION NUMBER: 0001393311-24-000051 CONFORMED SUBMISSION TYPE: 4 PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20240219 FILED AS OF DATE: 20240221 DATE AS OF CHANGE: 20240221 REPORTING-OWNER: OWNER DATA: COMPANY CONFORMED NAME: HAVNER RONALD L JR CENTRAL INDEX KEY: 0001227384 ORGANIZATION NAME: FILING VALUES: FORM TYPE: 4 SEC ACT: 1934 Act SEC FILE NUMBER: 001-33519 FILM NUMBER: 24657875 MAIL ADDRESS: STREET 1: 701 WESTERN AVENUE CITY: GLENDALE STATE: CA ZIP: 91201 ISSUER: COMPANY DATA: COMPANY CONFORMED NAME: Public Storage CENTRAL INDEX KEY: 0001393311 STANDARD INDUSTRIAL CLASSIFICATION: REAL ESTATE INVESTMENT TRUSTS [6798] ORGANIZATION NAME: 05 Real Estate & Construction IRS NUMBER: 953551121 STATE OF INCORPORATION: MD FISCAL YEAR END: 1231 BUSINESS ADDRESS: STREET 1: 701 WESTERN AVENUE CITY: GLENDALE STATE: CA ZIP: 91201-2349 BUSINESS PHONE: 818-244-8080 MAIL ADDRESS: STREET 1: 701 WESTERN AVENUE CITY: GLENDALE STATE: CA ZIP: 91201-2349 4 1 wk-form4_1708538108.xml FORM 4 X0508 4 2024-02-19 0 0001393311 Public Storage PSA 0001227384 HAVNER RONALD L JR C/O PUBLIC STORAGE 701 WESTERN AVENUE GLENDALE CA 91201 1 0 0 0 0 Common Shares 19548 D Common Shares 310381 I By Trust Common Shares 1900 I By Spouse IRA AO LTIP Units 161.42 2024-02-19 4 M 0 103275 D 2015-02-20 2024-02-19 Common Shares 103275 0 D LTIP Units 2024-02-19 4 M 0 44058.42 0 A Common Shares 44058.42 65933.42 D Includes 5,000 restricted share units and 2,306 deferred share units. Mr. Havner postponed receipt of 10,000 vested restricted share units granted February 19, 2015 with an original vesting date of April 1, 2016 in accordance with the following schedule: 10 equal installments over 10 years starting April 1, 2021 to April 1, 2030. 7,000 remain subject to deferred receipt and are also included here. Ronald L. Havner and LeeAnn R. Havner, Trustee of Havner Family Trust. On February 15, 2024, the reporting person exchanged an option to purchase 103,275 common shares of beneficial interest, par value $0.01 per share ("Common Shares"), of Public Storage (the "Company") for 103,275 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 $161.42, 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] [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. Common Shares are issued upon the redemption of OP Units on a one for one basis. OP Units have no expiration date. /s/ Nathaniel A. Vitan, Attorney-in-Fact 2024-02-21