Company: PSA-PH
Filing Date: 2025-03-28
Form Type: DEF 14A
Source: 0000950170-25-046747
Chunk: 74

Company: Public Storage
Filing Date: 2025-03-28
Form: DEF 14A
Chunk 74
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 and the closing price of our common shares on the NYSE on December 31, 2024. If the exercise price exceeds the closing price of our common shares on the NYSE on December 31, 2024, then the value presented is zero.

Represents the number of unvested RSUs that would be accelerated as a result of the termination multiplied by $299.44, the closing price of our common shares on the NYSE on December 31, 2024.

Does not meet the conditions for a qualifying retirement as of December 31, 2024.

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

PAY RATIO DISCLOSURE

SEC rules require us to disclose the ratio of annual total compensation of our CEO, Joseph D. Russell, Jr., to the annual total compensation of our median employee (excluding Mr. Russell). As of December 31, 2024, we had 5,941 talented and dedicated employees performing the following functions:

Approximately 82% (4,863) of our employees work at one of our self-storage facilities serving our customers. We generally pay these on-site Property Managers on an hourly basis. The median annual total compensation for these employees in 2024 was $32,574.

Approximately 7% (405) of our employees manage on-site Property Managers and assist them in providing our customers superior service. The median annual total compensation for these employees in 2024 was $125,721.

Approximately 4% (233) of our employees work in our call centers and assist potential customers and existing customers. The median annual total compensation for these employees in 2024 was $38,244.

Approximately 7% (440) of our employees are corporate employees, including our executive management team and our finance, legal, information technology, and human resources personnel. The median annual total compensation for these employees in 2024 was $144,646.

The ratio presented below is a reasonable estimate calculated in a manner consistent with SEC rules. We selected the median employee based on the 5,941 full-time and part-time workers employed by the Company and its consolidated subsidiaries as of December 31, 2024. In identifying our median employee, we used annual base wages, and for those employees who were employed by us for less than the full fiscal year, we annualized their compensation. We did not apply any cost-of-living adjustments as part of the calculation.

Based on