X0306 4 2017-03-07 0 0000866368 PS BUSINESS PARKS INC/CA PSB 0001227384 HAVNER RONALD L JR C/O PS BUSINESS PARKS, INC. 701 WESTERN AVENUE GLENDALE CA 91201 1 0 0 0 Common Stock 2017-03-07 4 M 0 10344 66.63 A 10344 D Common Stock 2017-03-07 4 S 0 10344 116.2558 D 0 D Common Stock 190584 I By Trust Common Stock 4000 I By Foundation Common Stock 1500 I By IRA Common Stock 2500 I By IRA Stock Option (right to buy) 66.63 2017-03-07 4 M 0 10344 0 D 2008-04-30 2017-04-30 Common Stock 10344 0 D On December 15, 2014, PSB declared a special dividend, payable on December 30, 2014. As a result, pursuant to anti-dilution provisions of PSB's 2003 Stock Option and Incentive Plan, an option for 10,000 shares of common stock held by the reporting person on December 30, 2014 became exercisable for an additional 344 shares of common stock. Represents weighted average sale price. These shares were sold at prices ranging between $116.00 and $116.84. Full information regarding the number of shares sold at each separate price will be provided by the reporting person upon request to the staff of the Securities and Exchange Commission, the issuer, or a security holder of the issuer. By Havner Family Trust of which the reporting person and his spouse are trustees. Shares owned by the Havner Family Foundation, of which Mr. Havner and his wife are co-trustees, but with respect to which Mr. and Mrs. Havner disclaim any beneficial interest. By a custodian of an IRA for benefit of the reporting person. By a custodian of an IRA for benefit of the reporting person's wife. Stock Option granted pursuant to the 2003 Stock Option and Incentive Plan. The Options vests in five (5) equal annual installments beginning one (1) year from the date of grant. This option was previously reported as an option for 10,000 shares of common stock at an exercise price of $68.90, but was adjusted to reflect the special dividend declared by PSB on December 15, 2014. /s/ Lily Yan Hughes, Attorney-in-Fact 2017-03-08