Company: PSA-PH
Filing Date: 2025-02-24
Form Type: 10-K
Source: 0001393311-25-000036
Chunk: 54

Company: Public Storage
Filing Date: 2025-02-24
Form: 10-K
Item: Item 1
Chunk 54
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, life planning tools, and discount programs for fitness, legal services, and home, auto, and pet insurance. Finally, we offer educational resources and tools, including a dedicated health and wellness website, to encourage employees to maintain a healthy and balanced lifestyle. We periodically consider employee feedback received through our engagement processes in the composition and design of our compensation and benefits programs.

We are committed to providing safe self-storage facilities for our customers and employees.  We conduct monthly safety training at all our properties and an annual safety training at our headquarters.  We publicly disclose our employee health and safety data in our annual Sustainability Report.

Training and Development

At Public Storage, we offer comprehensive training and development programs at every level of the organization. These programs are intended to provide our employees with the skills, tools, and knowledge they need to be successful in their roles and to contribute to the organization’s success. They are also intended to foster individual growth and strong employee engagement.

Most of our new hires join Public Storage as property managers without prior experience in the self-storage industry. We provide a hands-on new employee training program that includes coaching and development. For those new hires in leadership roles, we provide property-level training that exposes them to daily property operations and is intended to help them understand the fundamentals of our business and operations. We also offer numerous career development opportunities for existing employees, including management training programs. This includes a path for our property level employees to move into management and leadership roles and advance their careers within the Company. Many of our training and career development programs use our online learning platform of training courses and reference materials. In addition to formal training programs, we also offer one-on-one coaching, job shadowing, and mentoring opportunities.

6

Performance Management and Succession Planning

Our performance management processes are designed to encourage collaboration between employees and their managers. Together, employees and managers work to plan, monitor, and review the employee’s objectives and career aspirations, establishing and holding employees accountable to both short- and long-term goals that align with the Company’s strategy. This is a continuous process intended to provide regular opportunities for employees and their managers to share and receive feedback.

Succession planning is a priority for management and our Board and is viewed as critical to ensuring business continuity and supporting the Company’s long-term growth and success. Periodically throughout each year, the executive team meets to review and assess the Company’s succession bench strength, evaluate talent, and make recommendations for developing and preparing future leaders within the organization. This collaborative approach to talent management works to ensure that employees are given