X0306 4 2018-05-09 0 0000866368 PS BUSINESS PARKS INC/CA PSB 0001227451 KROPP JAMES H C/O PS BUSINESS PARKS, INC. 701 WESTERN AVENUE GLENDALE CA 91201 1 0 0 0 Common Stock 2018-05-09 4 M 0 2068 42.40 A 11202 D Common Stock 2018-05-09 4 S 0 1768 117.9136 D 9434 D Common Stock 4491 I by IRA Stock Option (right to buy) 42.40 2018-05-09 4 M 0 2068 0 D 2010-05-04 2019-05-04 Common Stock 2068 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 2,000 shares of common stock held by the reporting person on December 30, 2014 became exercisable for an additional 68 shares of common stock. By a custodian of an IRA for benefit of the reporting person. Stock Option granted pursuant to the 2003 Stock Option and Incentive Plan. The Option vested in five (5) equal annual installments beginning one (1) year from date of grant. This option was previously reported as an option for 2,000 shares of common stock at an exercise price of $43.84, but was adjusted to reflect the special dividend declared by PSB on December 15, 2014. /s/ Lily Yan Hughes, Attorney-in-Fact 2018-05-10