Company: PSA-PH
Filing Date: 2025-03-28
Form Type: DEF 14A
Source: 0000950170-25-046747
Chunk: 73

Company: Public Storage
Filing Date: 2025-03-28
Form: DEF 14A
Chunk 73
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5 Proxy Statement |71
Proposal 2: Approve Executive Compensation

any transaction that results in any person or entity owning 30% or more of the combined voting power of all classes of our shares.

Estimated Value of Accelerated Awards.The following table shows the estimated value of the acceleration of vesting of unvested equity awards pursuant to the termination events described above that trigger acceleration assuming the event occurred as of December 31, 2024, and using the value of our common shares on December 31, 2024 (the last trading day of the year) of $299.44 per share.

| Name                             
 Joseph D. Russell, Jr.           | Value of all outstanding unvested options/AO LTIP Units(1) |           |     | Value of all outstanding unvested RSUs/LTIP Units(2) |            |     | Total |            |
|:---------------------------------|:-----------------------------------------------------------|----------:|:----|:-----------------------------------------------------|-----------:|:----|:------|-----------:|
| Death or Disability Termination  | $                                                          | 6,970,885 |     | $                                                    | 16,392,843 |     | $     | 23,363,728 |
| Qualifying Retirement            |                                                            | 6,251,373 |     |                                                      | 10,695,398 |     |       | 16,946,771 |
| Termination on Change of Control |                                                            | 6,251,373 |     |                                                      | 10,695,398 |     |       | 16,946,771 |
| All Other Terminations           |                                                            |         — |     |                                                      |          — |     |       |          — |
| H. Thomas Boyle                  |                                                            |           |     |                                                      |            |     |       |            |
| Death or Disability Termination  | $                                                          | 5,341,380 |     | $                                                    | 11,286,193 |     | $     | 16,627,573 |
| Qualifying Retirement(3)         |                                                            |         — |     |                                                      |          — |     |       |          — |
| Termination on Change of Control |                                                            | 4,868,904 |     |                                                      |  7,575,233 |     |       | 12,444,137 |
| All Other Terminations           |                                                            |         — |     |                                                      |          — |     |