Statement of Changes in Beneficial Ownership (4)
March 02 2023 - 12:47PM
Edgar (US Regulatory)
FORM 4
[ ] Check this box if no longer subject to Section
16. Form 4 or Form 5 obligations may continue. See
Instruction 1(b).
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UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
STATEMENT OF CHANGES IN BENEFICIAL
OWNERSHIP OF SECURITIES
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OMB
APPROVAL
OMB Number: 3235-0287
Estimated average burden
hours per response... 0.5 |
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Filed pursuant to Section 16(a) of the
Securities Exchange Act of 1934 or Section 30(h) of the Investment
Company Act of 1940
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1. Name
and Address of Reporting Person * Vitan Nathaniel
A. |
2. Issuer Name and Ticker or Trading
Symbol Public Storage [ PSA ] |
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)_____
Director _____
10% Owner
__X__ Officer (give title
below) _____ Other
(specify below)
Chief Legal Officer |
(Last)
(First)
(Middle)
C/O PUBLIC STORAGE, 701 WESTERN AVENUE |
3. Date of Earliest Transaction (MM/DD/YYYY)
1/17/2023
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(Street)
GLENDALE, CA 91201
(City)
(State)
(Zip)
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4. If Amendment, Date Original Filed
(MM/DD/YYYY)
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6. Individual or Joint/Group Filing
(Check Applicable Line) _X _ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person |
Table I - Non-Derivative Securities Acquired, Disposed of, or
Beneficially Owned
|
1.Title of Security
(Instr. 3) |
2. Trans. Date |
2A. Deemed Execution Date, if any |
3. Trans. Code
(Instr. 8) |
4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5) |
5. Amount of Securities Beneficially Owned Following
Reported Transaction(s)
(Instr. 3 and 4) |
6. Ownership Form: Direct (D) or Indirect (I)
(Instr. 4) |
7. Nature of Indirect Beneficial Ownership (Instr.
4) |
Code |
V |
Amount |
(A) or (D) |
Price |
Common Stock |
2/28/2023 |
|
F |
|
519 |
D |
$298.95 |
13810 (1) |
D |
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Table II - Derivative Securities Beneficially Owned
(e.g., puts, calls, warrants, options, convertible
securities)
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1. Title of Derivate Security
(Instr. 3) |
2. Conversion or Exercise Price of Derivative
Security |
3. Trans. Date |
3A. Deemed Execution Date, if any |
4. Trans. Code
(Instr. 8) |
5. Number of Derivative Securities Acquired (A) or
Disposed of (D)
(Instr. 3, 4 and 5) |
6. Date Exercisable and Expiration Date |
7. Title and Amount of Securities Underlying
Derivative Security
(Instr. 3 and 4) |
8. Price of Derivative Security
(Instr. 5) |
9. Number of derivative Securities Beneficially
Owned Following Reported Transaction(s) (Instr. 4) |
10. Ownership Form of Derivative Security: Direct
(D) or Indirect (I) (Instr. 4) |
11. Nature of Indirect Beneficial Ownership (Instr.
4) |
Code |
V |
(A) |
(D) |
Date Exercisable |
Expiration Date |
Title |
Amount or Number of Shares |
Stock Option (Right to Buy) (2) |
$221.68 (2) |
1/17/2023 (2) |
|
A |
|
64546 (2) |
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3/6/2023 (2) |
3/6/2030 (2) |
Common Stock |
64546 (2) |
$0 |
64546 (2) |
D |
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Explanation of
Responses: |
(1) |
Includes 10,330 restricted
stock units. |
(2) |
Reflects an award of
performance-based stock options originally granted March 6, 2020,
subject to a three year (2020-2022) performance period. As
originally granted, this award was for 50,000 options (at target)
with an exercise price of $228.94 per share. Pursuant to
anti-dilution provisions of the Company's 2016 Equity and
Performance-Based Incentive Compensation Plan, these options were
adjusted to reflect the special dividend declared by the Company on
July 22, 2022. On January 17, 2023, following completion of the
performance period, the Compensation Committee certified
performance at 125% of target, as reflected here. Three-fifths of
these options will vest on March 6, 2023, with the remaining
vesting ratably over the next two years. These options were
previously inadvertently omitted. |
Reporting
Owners
|
Reporting Owner Name / Address |
Relationships
|
Director |
10% Owner |
Officer |
Other |
Vitan Nathaniel A.
C/O PUBLIC STORAGE
701 WESTERN AVENUE
GLENDALE, CA 91201 |
|
|
Chief Legal Officer |
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Signatures
|
/s/ Nathaniel A. Vitan |
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3/2/2023 |
**Signature of Reporting
Person |
Date |
Reminder: Report on a separate line for each class
of securities beneficially owned directly or
indirectly. |
* |
If the form is filed by more than one
reporting person, see Instruction 4(b)(v). |
** |
Intentional misstatements or omissions
of facts constitute Federal Criminal Violations. See 18
U.S.C. 1001 and 15 U.S.C. 78ff(a). |
Note: |
File three copies of this Form, one of
which must be manually signed. If space is insufficient, see
Instruction 6 for procedure. |
Persons who respond to the collection of information
contained in this form are not required to respond unless the form
displays a currently valid OMB control number. |
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