March 5, 2024 · Form 4 insider transaction
SPOGLI RONALD P bought 5,000 shares of Public Storage, a transaction worth N/A. The trade was recorded as grant or award and disclosed on an SEC Form 4, filed 1 day after the transaction.
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.