PSA

SEC source: 0001393311-24-000129 · wk-form4_1715214846.xml · derivative · entry 9

GUSTAVSON TAMARA HUGHES · CIK 0001322750 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 0

Underlying: Common Shares · 5,163 shares

Expires 2030-04-20

F6 · derivative.exercise_price: 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 May 7, 2024, the Company canceled the option upon surrender to the Company by the reporting person (the "2020 Canceled Option").

F6 · shares: 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 May 7, 2024, the Company canceled the option upon surrender to the Company by the reporting person (the "2020 Canceled Option").

F6 · price: 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 May 7, 2024, the Company canceled the option upon surrender to the Company by the reporting person (the "2020 Canceled Option").

F7 · derivative.exercise_date: This option became exercisable as to one-third on each of the first, second, and third anniversaries of the grant date.

F6 · derivative.underlying_shares: 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 May 7, 2024, the Company canceled the option upon surrender to the Company by the reporting person (the "2020 Canceled Option").

SEC source: 0001393311-24-000129 · wk-form4_1715214846.xml · derivative · entry 8

GUSTAVSON TAMARA HUGHES · CIK 0001322750 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 3,600

Underlying: Common Shares · 3,600 shares

Expires 2034-05-06

F5 · security: Reflects an award of membership interests in Public Storage OP, L.P. ("Public Storage OP") designated as AO LTIP Units ("AO LTIP Units") granted pursuant to the Public Storage 2021 Equity and Performance-Based Incentive Compensation Plan. The AO LTIP Units vest in full one (1) year from the grant date. Vested AO LTIP Units are convertible at the reporting person's election into vested LTIP Units ("LTIP Units") of Public Storage OP, which 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"). OP Units may be exchanged by the reporting person for Public Storage common shares, par value $0.10 per share ("Common Shares") or the equivalent cash value of Common Shares, as determined by Public Storage (the "Company"). AO LTIP Units and LTIP Units are intended to qualify as profits interests for US federal income tax purposes.

SEC source: 0001393311-24-000123 · wk-form4_1715209150.xml · derivative · entry 1

Shaukat Tariq M · CIK 0001545033 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 3,600

Underlying: Common Shares · 3,600 shares

Expires 2034-05-06

F1 · security: Reflects an award of membership interests in Public Storage OP, L.P. ("Public Storage OP") designated as AO LTIP Units ("AO LTIP Units") granted pursuant to the Public Storage 2021 Equity and Performance-Based Incentive Compensation Plan. The AO LTIP Units vest in full one (1) year from the grant date. Vested AO LTIP Units are convertible at the reporting person's election into vested LTIP Units ("LTIP Units") of Public Storage OP, which 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"). OP Units may be exchanged by the reporting person for Public Storage common shares or the equivalent cash value of common shares, as determined by Public Storage. AO LTIP Units and LTIP Units are intended to qualify as profits interests for US federal income tax purposes.

SEC source: 0001393311-24-000117 · wk-form4_1715208848.xml · derivative · entry 1

Pipes Kristy · CIK 0001783568 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 3,600

Underlying: Common Shares · 3,600 shares

Expires 2034-05-06

F1 · security: Reflects an award of membership interests in Public Storage OP, L.P. ("Public Storage OP") designated as AO LTIP Units ("AO LTIP Units") granted pursuant to the Public Storage 2021 Equity and Performance-Based Incentive Compensation Plan. The AO LTIP Units vest in full one (1) year from the grant date. Vested AO LTIP Units are convertible at the reporting person's election into vested LTIP Units ("LTIP Units") of Public Storage OP, which 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"). OP Units may be exchanged by the reporting person for Public Storage common shares or the equivalent cash value of common shares, as determined by Public Storage. AO LTIP Units and LTIP Units are intended to qualify as profits interests for US federal income tax purposes.

SEC source: 0001393311-24-000115 · wk-form4_1715208732.xml · derivative · entry 1

Mitra Shankh · CIK 0001698445 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 3,600

Underlying: Common Shares · 3,600 shares

Expires 2034-05-06

F1 · security: Stock Option granted pursuant to the Public Storage 2021 Equity and Performance-Based Incentive Compensation Plan. Option vests in full one (1) year from the grant date.

SEC source: 0001393311-24-000133 · wk-form4_1715286205.xml · derivative · entry 9

NEITHERCUT DAVID J · CIK 0001219726 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 5,000

Underlying: Common Shares · 5,000 shares

Expires 2033-05-01

F14 · derivative.exercise_price: 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.

F14 · price: 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.

F14 · derivative.exercise_date: 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.

F15 · balance_after: In connection with the conclusion of his service as a trustee on May 7, 2024, two-thirds (3,333 AO LTIP Units) of this award remained unvested and was canceled.

SEC source: 0001393311-24-000133 · wk-form4_1715286205.xml · derivative · entry 8

NEITHERCUT DAVID J · CIK 0001219726 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 0

Underlying: Common Shares · 5,000 shares

Expires 2033-05-01

F13 · price: On May 7, 2024, the Company canceled the option upon surrender to the Company by the reporting person (the "2023 Canceled Option").

F10 · derivative.exercise_date: This option becomes exercisable as to one-third on each of the first, second, and third anniversaries of the grant date.

SEC source: 0001393311-24-000133 · wk-form4_1715286205.xml · derivative · entry 7

NEITHERCUT DAVID J · CIK 0001219726 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 5,163

Underlying: Common Shares · 5,163 shares

Expires 2032-04-27

F11 · derivative.exercise_price: 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.

F11 · price: 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.

F11 · derivative.exercise_date: 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.

F12 · balance_after: In connection with the conclusion of his service as a trustee on May 7, 2024, one-third (1,741 AO LTIP Units) of this award remained unvested and was canceled.

SEC source: 0001393311-24-000133 · wk-form4_1715286205.xml · derivative · entry 6

NEITHERCUT DAVID J · CIK 0001219726 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 0

Underlying: Common Shares · 5,163 shares

Expires 2032-04-27

F9 · derivative.exercise_price: 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 May 7, 2024, the Company canceled the option upon surrender to the Company by the reporting person (the "2022 Canceled Option").

F9 · shares: 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 May 7, 2024, the Company canceled the option upon surrender to the Company by the reporting person (the "2022 Canceled Option").

F9 · price: 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 May 7, 2024, the Company canceled the option upon surrender to the Company by the reporting person (the "2022 Canceled Option").

F10 · derivative.exercise_date: This option becomes exercisable as to one-third on each of the first, second, and third anniversaries of the grant date.

F9 · derivative.underlying_shares: 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 May 7, 2024, the Company canceled the option upon surrender to the Company by the reporting person (the "2022 Canceled Option").

SEC source: 0001393311-24-000133 · wk-form4_1715286205.xml · derivative · entry 5

NEITHERCUT DAVID J · CIK 0001219726 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 5,163

Underlying: Common Shares · 5,163 shares

Expires 2031-04-25

F8 · derivative.exercise_price: In exchange for the Second 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.

F8 · price: In exchange for the Second 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.

F8 · derivative.exercise_date: In exchange for the Second 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.

SEC source: 0001393311-24-000133 · wk-form4_1715286205.xml · derivative · entry 4

NEITHERCUT DAVID J · CIK 0001219726 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 0

Underlying: Common Shares · 5,163 shares

Expires 2031-04-25

F7 · derivative.exercise_price: 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 May 7, 2024, the Company canceled the option upon surrender to the Company by the reporting person (the "Second 2021 Canceled Option").

F7 · shares: 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 May 7, 2024, the Company canceled the option upon surrender to the Company by the reporting person (the "Second 2021 Canceled Option").

F7 · price: 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 May 7, 2024, the Company canceled the option upon surrender to the Company by the reporting person (the "Second 2021 Canceled Option").

F5 · derivative.exercise_date: This option became exercisable as to one-third on each of the first, second, and third anniversaries of the grant date.

F7 · derivative.underlying_shares: 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 May 7, 2024, the Company canceled the option upon surrender to the Company by the reporting person (the "Second 2021 Canceled Option").

SEC source: 0001393311-24-000133 · wk-form4_1715286205.xml · derivative · entry 3

NEITHERCUT DAVID J · CIK 0001219726 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 15,491

Underlying: Common Shares · 15,491 shares

Expires 2030-12-31

F6 · derivative.exercise_price: In exchange for the First 2021 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.

F6 · price: In exchange for the First 2021 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.

F6 · derivative.exercise_date: In exchange for the First 2021 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.

SEC source: 0001393311-24-000133 · wk-form4_1715286205.xml · derivative · entry 2

NEITHERCUT DAVID J · CIK 0001219726 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 0

Underlying: Common Shares · 15,491 shares

Expires 2030-12-31

F4 · derivative.exercise_price: This option was previously reported as an option for 15,000 common shares, par value $0.10 per share ("Common Shares"), of Public Storage (the "Company") at an exercise price of $230.93, but, pursuant to antidilution 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 May 7, 2024, the Company canceled the option upon surrender to the Company by the reporting person (the "First 2021 Canceled Option").

F4 · shares: This option was previously reported as an option for 15,000 common shares, par value $0.10 per share ("Common Shares"), of Public Storage (the "Company") at an exercise price of $230.93, but, pursuant to antidilution 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 May 7, 2024, the Company canceled the option upon surrender to the Company by the reporting person (the "First 2021 Canceled Option").

F4 · price: This option was previously reported as an option for 15,000 common shares, par value $0.10 per share ("Common Shares"), of Public Storage (the "Company") at an exercise price of $230.93, but, pursuant to antidilution 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 May 7, 2024, the Company canceled the option upon surrender to the Company by the reporting person (the "First 2021 Canceled Option").

F5 · derivative.exercise_date: This option became exercisable as to one-third on each of the first, second, and third anniversaries of the grant date.

F4 · derivative.underlying_shares: This option was previously reported as an option for 15,000 common shares, par value $0.10 per share ("Common Shares"), of Public Storage (the "Company") at an exercise price of $230.93, but, pursuant to antidilution 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 May 7, 2024, the Company canceled the option upon surrender to the Company by the reporting person (the "First 2021 Canceled Option").

SEC source: 0001393311-24-000133 · wk-form4_1715286205.xml · nonDerivative · entry 1

NEITHERCUT DAVID J · CIK 0001219726 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 1,725

F1 · shares: In connection with the conclusion of his service as a trustee, on May 7, 2024, the reporting person received a grant of fully-vested deferred share units pursuant to the Company's Non-Management Trustee Compensation and Deferral Program under the Company's 2021 Equity and Performance-Based Incentive Compensation Plan. Each deferred share unit represents the right to receive one Company common share. The number of deferred share units granted represents the quotient of the dollar amount of the portion of the cash retainers the reporting person has earned for the second quarter of 2024, pro rated through May 7, 2024, and elected to be paid in deferred share units, divided by the Company's closing share price on the grant date, rounded up to the nearest deferred share unit. [footnote continues]

F2 · shares: [footnote continued] The deferred share units will be settled in unrestricted common shares (i) in a lump sum on January 1st of the calendar year following the tenth anniversary of the grant date or (ii) in a lump sum upon the reporting person's earlier death or disability or upon an earlier change of control of the Company.

F3 · balance_after: Includes 1,725 deferred share units.

SEC source: 0001393311-24-000131 · wk-form4_1715278344.xml · derivative · entry 10

Owen Rebecca L · CIK 0001331684 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 3,600

Underlying: Common Shares · 3,600 shares

Expires 2034-05-06

F11 · security: Reflects an award of AO LTIP Units granted pursuant to the Public Storage 2021 Equity and Performance-Based Incentive Compensation Plan. The AO LTIP Units vest in full one (1) year from the grant date. Vested AO LTIP Units are convertible at the reporting person's election into vested LTIP Units, which are convertible, conditioned upon the satisfaction of minimum allocations to the capital accounts of the LTIP Units for federal income tax purposes, into OP Units. 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. AO LTIP Units and LTIP Units are intended to qualify as profits interests for US federal income tax purposes.

SEC source: 0001393311-24-000131 · wk-form4_1715278344.xml · derivative · entry 9

Owen Rebecca L · CIK 0001331684 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 5,000

Underlying: Common Shares · 5,000 shares

Expires 2033-05-01

F10 · derivative.exercise_price: 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.

F10 · price: 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.

F10 · derivative.exercise_date: 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.

SEC source: 0001393311-24-000131 · wk-form4_1715278344.xml · derivative · entry 8

Owen Rebecca L · CIK 0001331684 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 0

Underlying: Common Shares · 5,000 shares

Expires 2033-05-01

F9 · price: On May 7, 2024, the Company canceled the option upon surrender to the Company by the reporting person (the "2023 Canceled Option").

F7 · derivative.exercise_date: This option becomes exercisable as to one-third on each of the first, second, and third anniversaries of the grant date.

SEC source: 0001393311-24-000131 · wk-form4_1715278344.xml · derivative · entry 7

Owen Rebecca L · CIK 0001331684 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 5,163

Underlying: Common Shares · 5,163 shares

Expires 2032-04-27

F8 · derivative.exercise_price: 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.

F8 · price: 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.

F8 · derivative.exercise_date: 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.

SEC source: 0001393311-24-000131 · wk-form4_1715278344.xml · derivative · entry 6

Owen Rebecca L · CIK 0001331684 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 0

Underlying: Common Shares · 5,163 shares

Expires 2032-04-27

F6 · derivative.exercise_price: 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 May 7, 2024, the Company canceled the option upon surrender to the Company by the reporting person (the "2022 Canceled Option").

F6 · shares: 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 May 7, 2024, the Company canceled the option upon surrender to the Company by the reporting person (the "2022 Canceled Option").

F6 · price: 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 May 7, 2024, the Company canceled the option upon surrender to the Company by the reporting person (the "2022 Canceled Option").

F7 · derivative.exercise_date: This option becomes exercisable as to one-third on each of the first, second, and third anniversaries of the grant date.

F6 · derivative.underlying_shares: 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 May 7, 2024, the Company canceled the option upon surrender to the Company by the reporting person (the "2022 Canceled Option").

SEC source: 0001393311-24-000131 · wk-form4_1715278344.xml · derivative · entry 5

Owen Rebecca L · CIK 0001331684 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 5,163

Underlying: Common Shares · 5,163 shares

Expires 2031-04-25

F5 · derivative.exercise_price: In exchange for the Second 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.

F5 · price: In exchange for the Second 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.

F5 · derivative.exercise_date: In exchange for the Second 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.

SEC source: 0001393311-24-000131 · wk-form4_1715278344.xml · derivative · entry 4

Owen Rebecca L · CIK 0001331684 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 0

Underlying: Common Shares · 5,163 shares

Expires 2031-04-25

F4 · derivative.exercise_price: 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 May 7, 2024, the Company canceled the option upon surrender to the Company by the reporting person (the "Second 2021 Canceled Option").

F4 · shares: 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 May 7, 2024, the Company canceled the option upon surrender to the Company by the reporting person (the "Second 2021 Canceled Option").

F4 · price: 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 May 7, 2024, the Company canceled the option upon surrender to the Company by the reporting person (the "Second 2021 Canceled Option").

F2 · derivative.exercise_date: This option became exercisable as to one-third on each of the first, second, and third anniversaries of the grant date.

F4 · derivative.underlying_shares: 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 May 7, 2024, the Company canceled the option upon surrender to the Company by the reporting person (the "Second 2021 Canceled Option").

SEC source: 0001393311-24-000131 · wk-form4_1715278344.xml · derivative · entry 3

Owen Rebecca L · CIK 0001331684 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 10,327

Underlying: Common Shares · 10,327 shares

Expires 2031-01-04

F3 · derivative.exercise_price: In exchange for the First 2021 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.

F3 · price: In exchange for the First 2021 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.

F3 · derivative.exercise_date: In exchange for the First 2021 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.

SEC source: 0001393311-24-000131 · wk-form4_1715278344.xml · derivative · entry 2

Owen Rebecca L · CIK 0001331684 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 0

Underlying: Common Shares · 10,327 shares

Expires 2031-01-04

F1 · derivative.exercise_price: This option was previously reported as an option for 15,000 common shares, par value $0.10 per share ("Common Shares"), of Public Storage (the "Company") at an exercise price of $217.37, but, pursuant to antidilution 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. Previously, the reporting person exercised this option as to 5,000 Common Shares. On May 7, 2024, the Company canceled the option upon surrender to the Company by the reporting person (the "First 2021 Canceled Option").

F1 · shares: This option was previously reported as an option for 15,000 common shares, par value $0.10 per share ("Common Shares"), of Public Storage (the "Company") at an exercise price of $217.37, but, pursuant to antidilution 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. Previously, the reporting person exercised this option as to 5,000 Common Shares. On May 7, 2024, the Company canceled the option upon surrender to the Company by the reporting person (the "First 2021 Canceled Option").

F1 · price: This option was previously reported as an option for 15,000 common shares, par value $0.10 per share ("Common Shares"), of Public Storage (the "Company") at an exercise price of $217.37, but, pursuant to antidilution 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. Previously, the reporting person exercised this option as to 5,000 Common Shares. On May 7, 2024, the Company canceled the option upon surrender to the Company by the reporting person (the "First 2021 Canceled Option").

F2 · derivative.exercise_date: This option became exercisable as to one-third on each of the first, second, and third anniversaries of the grant date.

F1 · derivative.underlying_shares: This option was previously reported as an option for 15,000 common shares, par value $0.10 per share ("Common Shares"), of Public Storage (the "Company") at an exercise price of $217.37, but, pursuant to antidilution 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. Previously, the reporting person exercised this option as to 5,000 Common Shares. On May 7, 2024, the Company canceled the option upon surrender to the Company by the reporting person (the "First 2021 Canceled Option").

SEC source: 0001393311-24-000135 · wk-form4_1715299600.xml · derivative · entry 3

Vitan Nathaniel A. · CIK 0001774586 · Chief Legal Officer

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 64,546

Underlying: Common Shares · 64,546 shares

Expires 2030-03-05

F3 · derivative.exercise_price: In exchange for the 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 Company common shares, par value $0.10 per share ("Common Shares"), or the equivalent cash value of Common Shares, as determined by the Company.

F3 · price: In exchange for the 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 Company common shares, par value $0.10 per share ("Common Shares"), or the equivalent cash value of Common Shares, as determined by the Company.

F3 · derivative.exercise_date: In exchange for the 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 Company common shares, par value $0.10 per share ("Common Shares"), or the equivalent cash value of Common Shares, as determined by the Company.

SEC source: 0001393311-24-000135 · wk-form4_1715299600.xml · derivative · entry 2

Vitan Nathaniel A. · CIK 0001774586 · Chief Legal Officer

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 0

Underlying: Common Shares · 64,546 shares

Expires 2030-03-05

F2 · price: On May 7, 2024, Public Storage (the "Company") canceled the option upon surrender to the Company by the reporting person (the "Canceled Option").

F1 · derivative.exercise_date: Three-fifths of this multi-year (2020-2022) performance-based option vested following certified achievement of the applicable performance targets at the conclusion of the performance period, with the remaining vesting ratably over the subsequent two years beginning one year from March 6, 2023.

SEC source: 0001393311-24-000111 · wk-form4_1714687580.xml · nonDerivative · entry 1

HAVNER RONALD L JR · CIK 0001227384 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 8,410

F1 · shares: Reflects transfer of shares to Mr. Havner's trust.

F2 · balance_after: Includes 2,410 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. 6,000 remain subject to deferred receipt and are also included here.

SEC source: 0001393311-24-000101 · wk-form4_1713916242.xml · derivative · entry 4

POLADIAN AVEDICK BARUYR · CIK 0001305254 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 1,780.22

Underlying: Common Shares · 1,780.22 shares

Expires not disclosed

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F4 · derivative.exercise_price: Common Shares are issued upon the redemption of OP Units on a one for one basis. OP Units have no expiration date.

F2 · shares: On March 5, 2024, the reporting person exchanged an option to purchase 5,163 common shares of beneficial interest, par value $0.01 per share ("Common Shares"), of Public Storage (the "Company") for 5,163 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 $170.60, 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]

F3 · shares: [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.

F4 · derivative.exercise_date: Common Shares are issued upon the redemption of OP Units on a one for one basis. OP Units have no expiration date.

F4 · derivative.expiration_date: Common Shares are issued upon the redemption of OP Units on a one for one basis. OP Units have no expiration date.

SEC source: 0001393311-24-000101 · wk-form4_1713916242.xml · derivative · entry 3

POLADIAN AVEDICK BARUYR · CIK 0001305254 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 0

Underlying: Common Shares · 5,163 shares

Expires 2024-04-30

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F2 · price: On March 5, 2024, the reporting person exchanged an option to purchase 5,163 common shares of beneficial interest, par value $0.01 per share ("Common Shares"), of Public Storage (the "Company") for 5,163 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 $170.60, 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]

F3 · price: [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.

F2 · derivative.exercise_date: On March 5, 2024, the reporting person exchanged an option to purchase 5,163 common shares of beneficial interest, par value $0.01 per share ("Common Shares"), of Public Storage (the "Company") for 5,163 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 $170.60, 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]

F3 · derivative.exercise_date: [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.

SEC source: 0001393311-24-000099 · wk-form4_1712784857.xml · derivative · entry 4

SPOGLI RONALD P · CIK 0000916867 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 2,160.31

Underlying: Common Shares · 2,160.31 shares

Expires not disclosed

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F5 · derivative.exercise_price: Common Shares are issued upon the redemption of OP Units on a one for one basis. OP Units have no expiration date.

F5 · derivative.exercise_date: Common Shares are issued upon the redemption of OP Units on a one for one basis. OP Units have no expiration date.

F5 · derivative.expiration_date: Common Shares are issued upon the redemption of OP Units on a one for one basis. OP Units have no expiration date.

SEC source: 0001393311-24-000099 · wk-form4_1712784857.xml · derivative · entry 3

SPOGLI RONALD P · CIK 0000916867 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 0

Underlying: Common Shares · 5,163 shares

Expires 2024-04-30

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F3 · price: On March 5, 2024, the reporting person exchanged an option to purchase 5,163 common shares of beneficial interest, par value $0.01 per share ("Common Shares"), of Public Storage (the "Company") for 5,163 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 $170.60, 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]

F4 · price: [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.

F3 · derivative.exercise_date: On March 5, 2024, the reporting person exchanged an option to purchase 5,163 common shares of beneficial interest, par value $0.01 per share ("Common Shares"), of Public Storage (the "Company") for 5,163 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 $170.60, 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]

F4 · derivative.exercise_date: [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.

SEC source: 0001393311-24-000087 · wk-form4_1712166709.xml · nonDerivative · entry 2

HAVNER RONALD L JR · CIK 0001227384 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 9,106

F3 · balance_after: Includes 2,410 DSUs. 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. On April 1, 2024, Mr. Havner received the fourth installment of such vested restricted share units and 6,000 remain subject to deferred receipt.

SEC source: 0001393311-24-000091 · wk-form4_1712166945.xml · nonDerivative · entry 1

SPOGLI RONALD P · CIK 0000916867 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 12,382

F1 · shares: Grant of fully-vested deferred share units (DSUs) pursuant to the Company's Non-Management Trustee Compensation and Deferral Program under the Company's 2021 Equity and Performance-Based Incentive Compensation Plan. Each DSU represents the right to receive one Company common share. The number of DSUs granted represents the quotient of the dollar amount of the portion of the cash retainers Mr. Spogli has earned for the applicable calendar quarter and elected to be paid in DSUs, divided by the Company's closing share price on the grant date, rounded up to the nearest DSU. The DSUs will be settled in unrestricted common shares (i) in a lump sum on January 1st of the calendar year following Mr. Spogli's separation from service as a trustee or (ii) in a lump sum upon Mr. Spogli's earlier death or disability or upon an earlier change of control of the Company. In accordance with Mr. Spogli's election, dividend equivalents paid on these DSUs will be issued as additional DSUs.

F2 · balance_after: Includes 2,219 DSUs.

SEC source: 0001393311-24-000095 · wk-form4_1712167183.xml · nonDerivative · entry 1

WILLIAMS PAUL S · CIK 0001236458 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 904

F1 · balance_after: Includes 904 deferred share units.

SEC source: 0001393311-24-000087 · wk-form4_1712166709.xml · nonDerivative · entry 1

HAVNER RONALD L JR · CIK 0001227384 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 9,410

F1 · shares: Grant of fully-vested deferred share units (DSUs) pursuant to the Company's Non-Management Trustee Compensation and Deferral Program under the Company's 2021 Equity and Performance-Based Incentive Compensation Plan. Each DSU represents the right to receive one Company common share. The number of DSUs granted represents the quotient of the dollar amount of the portion of the cash retainers the reporting person has earned for the applicable calendar quarter and elected to be paid in DSUs, divided by the Company's closing share price on the grant date, rounded up to the nearest DSU. The DSUs will be settled in unrestricted common shares (i) in a lump sum upon the reporting person's separation from service as a trustee or (ii) in a lump sum upon the reporting person's earlier death or disability or upon an earlier change of control of the Company. In accordance with the reporting person's election, dividend equivalents paid on these DSUs will be issued as additional DSUs.

F2 · balance_after: Includes 2,410 DSUs. 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.

SEC source: 0001393311-24-000089 · wk-form4_1712166824.xml · nonDerivative · entry 1

REYES JOHN · CIK 0001227389 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 12,555

F1 · shares: Grant of fully-vested deferred share units pursuant to the Company's Non-Management Trustee Compensation and Deferral Program under the Company's 2021 Equity and Performance-Based Incentive Compensation Plan. Each deferred share unit represents the right to receive one Company common share. The number of deferred share units granted represents the quotient of the dollar amount of the portion of the cash retainers the reporting person has earned for the applicable calendar quarter and elected to be paid in deferred share units, divided by the Company's closing share price on the grant date, rounded up to the nearest deferred share unit. The deferred share units will be settled in unrestricted common shares (i) in a lump sum upon the reporting person's separation from service as a trustee or (ii) in a lump sum upon the reporting person's earlier death or disability or upon an earlier change of control of the Company.

F2 · balance_after: Includes 2,410 deferred share units.

SEC source: 0001393311-24-000093 · wk-form4_1712167087.xml · nonDerivative · entry 1

NEITHERCUT DAVID J · CIK 0001219726 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 1,665

F1 · shares: Grant of fully-vested deferred share units pursuant to the Company's Non-Management Trustee Compensation and Deferral Program under the Company's 2021 Equity and Performance-Based Incentive Compensation Plan. Each deferred share unit represents the right to receive one Company common share. The number of deferred share units granted represents the quotient of the dollar amount of the portion of the cash retainers the reporting person has earned for the applicable calendar quarter and elected to be paid in deferred share units, divided by the Company's closing share price on the grant date, rounded up to the nearest deferred share unit. The deferred share units will be settled in unrestricted common shares (i) in a lump sum on January 1st of the calendar year following the tenth anniversary of the grant date or (ii) in a lump sum upon the reporting person's earlier death or disability or upon an earlier change of control of the Company.

F2 · balance_after: Includes 1,665 deferred share units.

SEC source: 0001393311-24-000097 · wk-form4_1712167296.xml · nonDerivative · entry 1

Mitra Shankh · CIK 0001698445 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 8,110

F1 · shares: Grant of unrestricted Company common shares pursuant to the Company's Non-Management Trustee Compensation and Deferral Program under the Company's 2021 Equity and Performance-Based Incentive Compensation Plan. The number of shares granted represents the quotient of the dollar amount of the portion of the cash retainers the reporting person has earned for the applicable calendar quarter and elected to be paid in common shares, divided by the Company's closing share price on the grant date, rounded up to the nearest share.

F2 · balance_after: Includes 432 deferred share units.

SEC source: 0001393311-24-000071 · wk-form4_1709770551.xml · derivative · entry 22

SPOGLI RONALD P · CIK 0000916867 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 5,000

Underlying: Common Shares · 5,000 shares

Expires 2033-05-01

F22 · derivative.exercise_price: 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.

F22 · price: 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.

F22 · derivative.exercise_date: 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.

SEC source: 0001393311-24-000071 · wk-form4_1709770551.xml · derivative · entry 21

SPOGLI RONALD P · CIK 0000916867 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 0

Underlying: Common Shares · 5,000 shares

Expires 2033-05-01

F21 · price: On March 5, 2024, the Company canceled the option upon surrender to the Company by the reporting person (the "2023 Canceled Option").

SEC source: 0001393311-24-000071 · wk-form4_1709770551.xml · derivative · entry 20

SPOGLI RONALD P · CIK 0000916867 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 5,163

Underlying: Common Shares · 5,163 shares

Expires 2032-04-27

F20 · derivative.exercise_price: 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.

F20 · price: 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.

F20 · derivative.exercise_date: 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.

SEC source: 0001393311-24-000071 · wk-form4_1709770551.xml · derivative · entry 19

SPOGLI RONALD P · CIK 0000916867 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 0

Underlying: Common Shares · 5,163 shares

Expires 2032-04-27

F19 · derivative.exercise_price: 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").

F19 · shares: 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").

F19 · price: 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").

F19 · derivative.underlying_shares: 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").

SEC source: 0001393311-24-000071 · wk-form4_1709770551.xml · derivative · entry 18

SPOGLI RONALD P · CIK 0000916867 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 5,163

Underlying: Common Shares · 5,163 shares

Expires 2031-04-25

F18 · derivative.exercise_price: 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.

F18 · price: 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.

F18 · derivative.exercise_date: 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.

SEC source: 0001393311-24-000071 · wk-form4_1709770551.xml · derivative · entry 17

SPOGLI RONALD P · CIK 0000916867 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 0

Underlying: Common Shares · 5,163 shares

Expires 2031-04-25

F17 · derivative.exercise_price: 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").

F17 · shares: 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").

F17 · price: 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").

F17 · derivative.underlying_shares: 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").

SEC source: 0001393311-24-000071 · wk-form4_1709770551.xml · derivative · entry 16

SPOGLI RONALD P · CIK 0000916867 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 5,163

Underlying: Common Shares · 5,163 shares

Expires 2030-04-20

F16 · derivative.exercise_price: 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.

F16 · price: 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.

F16 · derivative.exercise_date: 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.

SEC source: 0001393311-24-000071 · wk-form4_1709770551.xml · derivative · entry 15

SPOGLI RONALD P · CIK 0000916867 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 0

Underlying: Common Shares · 5,163 shares

Expires 2030-04-20

F15 · derivative.exercise_price: 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").

F15 · shares: 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").

F15 · price: 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").

F15 · derivative.underlying_shares: 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").

SEC source: 0001393311-24-000071 · wk-form4_1709770551.xml · derivative · entry 14

SPOGLI RONALD P · CIK 0000916867 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 5,163

Underlying: Common Shares · 5,163 shares

Expires 2029-04-23

F14 · derivative.exercise_price: 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.

F14 · price: 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.

F14 · derivative.exercise_date: 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.

SEC source: 0001393311-24-000071 · wk-form4_1709770551.xml · derivative · entry 13

SPOGLI RONALD P · CIK 0000916867 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 0

Underlying: Common Shares · 5,163 shares

Expires 2029-04-23

F13 · derivative.exercise_price: 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").

F13 · shares: 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").

F13 · price: 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").

F13 · derivative.underlying_shares: 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").

SEC source: 0001393311-24-000071 · wk-form4_1709770551.xml · derivative · entry 12

SPOGLI RONALD P · CIK 0000916867 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 5,163

Underlying: Common Shares · 5,163 shares

Expires 2028-04-24

F12 · derivative.exercise_price: 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.

F12 · price: 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.

F12 · derivative.exercise_date: 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.

SEC source: 0001393311-24-000071 · wk-form4_1709770551.xml · derivative · entry 11

SPOGLI RONALD P · CIK 0000916867 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 0

Underlying: Common Shares · 5,163 shares

Expires 2028-04-24

F11 · derivative.exercise_price: 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").

F11 · shares: 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").

F11 · price: 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").

F11 · derivative.underlying_shares: 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").

SEC source: 0001393311-24-000071 · wk-form4_1709770551.xml · derivative · entry 10

SPOGLI RONALD P · CIK 0000916867 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 5,163

Underlying: Common Shares · 5,163 shares

Expires 2027-04-25

F10 · derivative.exercise_price: 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.

F10 · price: 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.

F10 · derivative.exercise_date: 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.