Company: PSA-PH
Filing Date: 2025-03-28
Form Type: DEF 14A
Source: 0000950170-25-046747
Chunk: 68

Company: Public Storage
Filing Date: 2025-03-28
Form: DEF 14A
Chunk 68
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, performance-based LTIP Unit, and performance-based AO LTIP Unit awards granted in 2024 pursuant to the 2021 Plan based upon achievement of applicable performance targets.

The amounts shown in this column reflect time-based AO LTIP Unit awards granted in 2024 pursuant to the 2021 Plan.

The amounts shown in this column reflect the grant date fair value of performance-based LTIP Unit, performance-based AO LTIP Unit, time-based AO LTIP Unit, time-based LTIP Unit, and fully vested common share awards calculated in accordance with FASB ASC Topic 718 and as described more fully in footnotes 1 and 2 to the Summary Compensation Table, above.

Both the performance-based LTIP Unit and performance-based AO LTIP Unit awards reflected in this table are subject to a three-year (March 5, 2024–March 4, 2027) performance period. Three-fifths of these awards granted to each of Mr. Russell, Mr. Boyle, Ms. Johnson, and Mr. Vitan will vest upon achievement of the performance target at the conclusion of the performance period, with the remaining vesting ratably over the next two years.

In February 2025, the CHC Committee approved annual cash incentive payouts as follows: Mr. Russell, $1,590,000, 80% of target; Mr. Boyle, $820,000, 82% of target; Ms. Johnson, $716,000, 90% of target; and Mr. Vitan, $363,375, 86% of target.

Mr. Sambar joined the Company on October 14, 2024. In connection with the commencement of his service, Mr. Sambar was granted make-whole new hire equity awards consisting of an award of fully vested common shares and an award of time based LTIP Units.

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

Option and AO LTIP Unit Exercises and Stock and LTIP Units Vested In 2024.The following table provides information about events that occurred with respect to our NEOs’ outstanding equity awards during the year ended December 31, 2024, including stock option exercises, RSU vestings, AO LTIP Unit exercises, and LTIP Unit vestings.

|                        |     | Stock Option and Common Share Awards |   |     |                 |   |     |                     |       |     |                |           |     | AO LT