Company: PSA-PH
Filing Date: 2025-03-28
Form Type: DEF 14A
Source: 0000950170-25-046747
Chunk: 58

Company: Public Storage
Filing Date: 2025-03-28
Form: DEF 14A
Chunk 58
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% – <2%                 |     | 115%                        |
| 2% – 3%                  |     | 125%                        |
| >3%                      |     | 150%                        |
| Actual Result – -1.3%    |     | 75%                         |

With respect to the strategic management goals component of the annual cash incentive program, the CHC Committee considered each NEOs’ achievement of his or her specific goals linked to the Company’s strategic objectives.

Joseph D. Russell, Jr.

For Mr. Russell, the CHC Committee established six goals across four strategic objectives for 2024, including (1) delivering strong shareholder results, (2) increasing capital allocation through development, growing the Public Storage® brand, and energy efficiency initiatives, (3) enhancing the customer experience and the Company’s operating results, and (4) succession planning and driving employee readiness for critical roles in the Company.

Tom Boyle

For Mr. Boyle, the CHC Committee established seven goals across four strategic objectives for 2024, including (1) delivering strong shareholder results, (2) increasing capital allocation through development, growing the Public Storage® brand, and energy efficiency initiatives, (3) implementing a new financial and accounting reporting system, and (4) enhancing the Company’s tenant insurance program.

#### 56| Public Storage | 2025 Proxy Statement
Proposal 2: Approve Executive Compensation

Natalia N. Johnson

For Ms. Johnson, the CHC Committee established eight goals across five strategic objectives for 2024, including (1) optimizing the Company’s operating model, (2) enhancing the Company’s call center operations, (3) achieving strong employee engagement and reducing employee turnover, (4) continuing the digital transformation of the Company’s business and operations and enhancing the Company’s cybersecurity and digitization efforts, and (5) optimizing data science modeling.

Nathaniel A. Vitan

For Mr. Vitan, the CHC Committee established six goals across four strategic objectives for 2024, including (1) enhancing the Company’s enterprise risk management program and sustainability profile, (2) transforming the Company’s internal audit processes to implement additional use of data analytics and risk-based processes, (3) enhancing the Company’s corporate governance processes, and (4) optimizing expenses.

Based on the Company’s Core FFO growth and management’s performance against strategic management goals, the CHC Committee certified the following annual cash incentive awards for our named executive officers:

| NEO                    |