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