Company: PSA-PH
Filing Date: 2025-02-24
Form Type: 10-K
Source: 0001393311-25-000036
Chunk: 142

Company: Public Storage
Filing Date: 2025-02-24
Form: 10-K
Item: Item 15
Chunk 142
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Granted77,974 296.19 37,211 295.61 115,185 296.01 Vested(132,909)(245.19)(9,250)(275.12)(142,159)(247.13)Forfeited(30,229)(266.60)(2,183)(300.86)(32,412)(268.91)Unvested awards outstanding December 31, 2023322,648 $272.14 94,013 $327.06 416,661 $284.53 Granted (b)83,651 308.24 44,914 228.68 128,565 280.45 Vested(130,321)(259.20)(10,004)(275.12)(140,325)(260.33)Forfeited(18,104)(286.93)(866)(300.86)(18,970)(287.57)Unvested awards outstanding December 31, 2024257,874 $289.35 128,057 $296.79 385,931 $291.82 202420232022Amounts for the year (in 000's, except number of shares):Fair value of vested shares and vested LTIP units on vesting date$41,848 $41,999 $47,244 Cash paid for taxes upon vesting in lieu of issuing common shares$12,667 $13,950 $16,827 Common shares issued upon vesting63,840 96,657 99,009 Vested LTIP units issued upon vesting40,396 — — Average assumptions used in valuing restricted share and LTIP units with market conditions with the Monte-Carlo simulation method:Time from the valuation date to the end of the performance period333Risk-free interest rate4.2%3.8%1.6%Expected volatility, based upon historical volatility23.8%28.2%26.5%Expected dividend yield4.3%4.1%2.3%(a)Number of performance-based awards are presented based on the target performance pursuant to the terms of each applicable award when granted and adjusted to the actual number of awards earned based on the actual performance.(b)Amount granted for performance-based awards includes 6,594 LTIP units for payout adjustments based on Total Shareholder Return modifier for awards granted in 2022.Stock Options