0001393311-24-000067.txt : 20240306 0001393311-24-000067.hdr.sgml : 20240306 20240306190929 ACCESSION NUMBER: 0001393311-24-000067 CONFORMED SUBMISSION TYPE: 4 PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20240305 FILED AS OF DATE: 20240306 DATE AS OF CHANGE: 20240306 REPORTING-OWNER: OWNER DATA: COMPANY CONFORMED NAME: POLADIAN AVEDICK BARUYR CENTRAL INDEX KEY: 0001305254 ORGANIZATION NAME: FILING VALUES: FORM TYPE: 4 SEC ACT: 1934 Act SEC FILE NUMBER: 001-33519 FILM NUMBER: 24727676 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_1709770145.xml FORM 4 X0508 4 2024-03-05 0 0001393311 Public Storage PSA 0001305254 POLADIAN AVEDICK BARUYR C/O PUBLIC STORAGE 701 WESTERN AVENUE GLENDALE CA 91201 1 0 0 0 0 Common Shares 30163 D Common Shares 1000 I By IRA Stock Option (Right to Buy) 170.60 2024-03-05 4 D 0 5163 D 2015-05-01 2024-04-30 Common Shares 5163 0 D AO LTIP Units 2024-03-05 4 A 0 5163 A 2024-04-30 Common Shares 5163 5163 D Stock Option (Right to Buy) 181.95 2024-03-05 4 D 0 5163 D 2016-04-30 2025-04-29 Common Shares 5163 0 D AO LTIP Units 2024-03-05 4 A 0 5163 A 2025-04-29 Common Shares 5163 5163 D Stock Option (Right to Buy) 250.29 2024-03-05 4 D 0 5163 D 2017-04-25 2026-04-24 Common Shares 5163 0 D AO LTIP Units 2024-03-05 4 A 0 5163 A 2026-04-24 Common Shares 5163 5163 D Stock Option (Right to Buy) 216.83 2024-03-05 4 D 0 5163 D 2018-04-26 2027-04-25 Common Shares 5163 0 D AO LTIP Units 2024-03-05 4 A 0 5163 A 2027-04-25 Common Shares 5163 5163 D Stock Option (Right to Buy) 187.57 2024-03-05 4 D 0 5163 D 2019-04-25 2028-04-24 Common Shares 5163 0 D AO LTIP Units 2024-03-05 4 A 0 5163 A 2028-04-24 Common Shares 5163 5163 D Stock Option (Right to Buy) 211.30 2024-03-05 4 D 0 5163 D 2020-04-24 2029-04-23 Common Shares 5163 0 D AO LTIP Units 2024-03-05 4 A 0 5163 A 2029-04-23 Common Shares 5163 5163 D Stock Option (Right to Buy) 184.85 2024-03-05 4 D 0 5163 D 2021-04-21 2030-04-20 Common Shares 5163 0 D AO LTIP Units 2024-03-05 4 A 0 5163 A 2030-04-20 Common Shares 5163 5163 D Stock Option (Right to Buy) 266.40 2024-03-05 4 D 0 5163 D 2022-04-26 2031-04-25 Common Shares 5163 0 D AO LTIP Units 2024-03-05 4 A 0 5163 A 2031-04-25 Common Shares 5163 5163 D Stock Option (Right to Buy) 386.32 2024-03-05 4 D 0 5163 D 2023-04-28 2032-04-27 Common Shares 5163 0 D AO LTIP Units 2024-03-05 4 A 0 5163 A 2032-04-27 Common Shares 5163 5163 D Stock Option (Right to Buy) 286.81 2024-03-05 4 D 0 5000 D 2024-05-02 2033-05-01 Common Shares 5000 0 D AO LTIP Units 2024-03-05 4 A 0 5000 A 2033-05-01 Common Shares 5000 5000 D By the custodian of an IRA for the benefit of Avedick B. Poladian. This option was previously reported as an option for 5,000 common shares, par value $0.10 per share ("Common Shares"), of Public Storage (the "Company") at an exercise price of $176.19, but, pursuant to antidilution provisions of the Company's 2007 Equity and Performance-Based Incentive Compensation Plan, was adjusted to reflect the special dividend declared by the Company on July 22, 2022. On March 5, 2024, the Company canceled the option upon surrender to the Company by the reporting person (the "2014 Canceled Option"). In exchange for the 2014 Canceled Option, the reporting person received a replacement award of membership interests in Public Storage OP, L.P. ("Public Storage OP") designated as AO LTIP Units ("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 ("LTIP Units") of Public Storage OP, which LTIP Units are intended to qualify as profits interests for US federal income tax purposes. The LTIP Units 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"). The 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. This option was previously reported as an option for 5,000 Common Shares at an exercise price of $187.91, but, pursuant to anti-dilution provisions of the Company's 2007 Equity and Performance-Based Incentive Compensation Plan, was adjusted to reflect the special dividend declared by the Company on July 22, 2022. On March 5, 2024, the Company canceled the option upon surrender to the Company by the reporting person (the "2015 Canceled Option"). In exchange for the 2015 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. This option was previously reported as an option for 5,000 Common Shares at an exercise price of $258.49, 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 March 5, 2024, the Company canceled the option upon surrender to the Company by the reporting person (the "2016 Canceled Option"). In exchange for the 2016 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. This option was previously reported as an option for 5,000 Common Shares at an exercise price of $223.93, 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 March 5, 2024, the Company canceled the option upon surrender to the Company by the reporting person (the "2017 Canceled Option"). In exchange for the 2017 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. This option was previously reported as an option for 5,000 Common Shares at an exercise price of $193.71, 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 March 5, 2024, the Company canceled the option upon surrender to the Company by the reporting person (the "2018 Canceled Option"). In exchange for the 2018 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. This option was previously reported as an option for 5,000 Common Shares at an exercise price of $218.22, 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 March 5, 2024, the Company canceled the option upon surrender to the Company by the reporting person (the "2019 Canceled Option"). In exchange for the 2019 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. 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 March 5, 2024, the Company canceled the option upon surrender to the Company by the reporting person (the "2020 Canceled Option"). 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. 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 March 5, 2024, the Company canceled the option upon surrender to the Company by the reporting person (the "2021 Canceled Option"). 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. 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 March 5, 2024, the Company canceled the option upon surrender to the Company by the reporting person (the "2022 Canceled Option"). 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. On March 5, 2024, the Company canceled the option upon surrender to the Company by the reporting person (the "2023 Canceled Option"). 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. /s/ Nathaniel A. Vitan, Attorney-in-Fact 2024-03-06