Company: PSA-PH
Filing Date: 2025-03-28
Form Type: DEF 14A
Source: 0000950170-25-046747
Chunk: 61

Company: Public Storage
Filing Date: 2025-03-28
Form: DEF 14A
Chunk 61
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 as adjusted pursuant to the anti-dilution provisions of the 2021 Plan for the special cash dividend of $13.15 per common share paid on August 4, 2022.

|                        |     | 2022 Earned Performance-Based Equity Awards |        |     |            |        |
| NEO                    |     | AO LTIP Units                               |        |     | LTIP Units |        |
| Joseph D. Russell, Jr. |     |                                             | 40,562 |     |            | 11,116 |
| H. Thomas Boyle        |     |                                             | 29,097 |     |            |  7,974 |
| Natalia N. Johnson     |     |                                             | 19,398 |     |            |  5,315 |
| Nathaniel A. Vitan     |     |                                             | 15,233 |     |            |  4,174 |

Three-fifths of these AO LTIP Units and LTIP Units vested on February 28, 2024 following certification of performance by the CHC Committee, and the remaining portion will vest ratably over the next two years.

Other Outstanding Multi-Year Performance-Based Awards.Given that the three-year performance periods of the 2023 and 2024 multi-year performance-based option / AO LTIP Unit and RSU / LTIP Unit awards do not end until March 14, 2026 and March 4, 2027, respectively,

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

no portion of these awards were earned in 2024. Below is the status of each of the Company’s multi-year performance-based equity awards granted since 2022:

Sambar Make-Whole New Hire Awards.Chris C. Sambar joined the Company as our Chief Operating Officer on October 14, 2024. Mr. Sambar did not participate in our NEO incentive compensation program for 2024. In connection with joining the Company, Mr. Sambar received a make-whole new hire cash bonus of $1,000,000 and he was granted make-whole new hire equity awards consisting of a number of fully vested common shares equal to $2,500,000 and a number of time based LTIP Units equal to $5,000,000. The LTIP Unit award vests ratably over the three years following the grant date. Mr. Sambar will be eligible to participate in the