Company: PSA-PH
Filing Date: 2025-03-28
Form Type: DEF 14A
Source: 0000950170-25-046747
Chunk: 96

Company: Public Storage
Filing Date: 2025-03-28
Form: DEF 14A
Chunk 96
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 proposed A&R 2021 Plan are outlined below. The following summary description of the proposed A&R 2021 Plan is qualified in its entirety by reference to the full text of the A&R 2021 Plan that is attached to this proxy statement as Appendix B.

#### 90| Public Storage | 2025 Proxy Statement
Proposal 4: Approval of Amendment and Restatement of 2021 Plan

DESCRIPTION OF THE A&R 2021 PLAN

Purpose

The purposes of the A&R 2021 Plan are to:

incentivize the Company’s officers, trustees, employees (including prospective employees), consultants, and others who may perform services for the Company, including by making available the benefits of increased ownership of common shares;

promote the alignment of the interests of the Company’s officers, directors, employees, consultants, and other service providers with those of our shareholders; and

assist in the recruitment and retention of the Company’s service providers.

Administration

The CHC Committee will administer the A&R 2021 Plan and will have the authority to make all determinations in its discretion that it deems necessary or advisable for the administration of the A&R 2021 Plan. The CHC Committee may also delegate to one or more trustees the authority to grant awards to employees and other service providers who are not subject to Section 16 of the Exchange Act.

References to the CHC Committee include reference to the Board and/or other delegates of the Board for those periods when the Board or such other delegate(s) appointed by the Board are acting.

Share Reserve

The number of common shares that may be issued under the A&R 2021 Plan is 7,100,529, which is equal to the sum of (i) 3,000,000 common shares, (ii) the number of common shares available for future awards under the 2021 Plan as of the effective date of the A&R 2021 Plan, and (iii) the number of common shares related to awards outstanding under the 2021 Plan and any predecessor plans as of the effective date that later terminate by expiration, forfeiture, cancellation, or otherwise without the issuance of such common shares and become available for issuance under the A&R 2021 Plan. As of March 5, 2025 (following the record date), up to 888,736 common shares remain available for future issuance under the 2021 Plan and 3,211,793 common shares relate to awards outstanding under the 2021 Plan and any predecessor plans.