Company: PSA-PH
Filing Date: 2025-03-28
Form Type: DEF 14A
Source: 0000950170-25-046747
Chunk: 40

Company: Public Storage
Filing Date: 2025-03-28
Form: DEF 14A
Chunk 40
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 a member of the Audit and Compensation committees.

Chris C. Sambar, age 51 —Mr. Sambar has served as our Chief Operating Officer since he joined the Company on October 14, 2024. Prior to joining the Company, Mr. Sambar held various roles of increasing responsibility at AT&T Communications since 2002, most recently as President, AT&T Network from August 2022 to October 2024 and as Executive Vice President, AT&T Network from September 2019 to August 2022. Mr. Sambar has served as a director of AST SpaceMobile, Inc. (NASDAQ: ASTS) since June 2024.

Nathaniel A. Vitan, age 51 —Mr. Vitan has served as our Chief Legal Officer and Corporate Secretary since April 20, 2019. Previously, Mr. Vitan was Vice President and Chief Counsel—Litigation & Operations from June 2016, when he joined the Company, until April 2019. Prior to joining Public Storage, he was Assistant General Counsel for Altria Client Services LLC from 2008 to 2016, and before then was a Trial and Appellate Practice attorney at Latham & Watkins LLP.

#### Public Storage | 2025 Proxy Statement |39
Proposal 2: Approve Executive Compensation

COMPENSATION DISCUSSION AND ANALYSIS (CD&A)

This CD&A provides a detailed description of our executive compensation philosophy and program and the factors we believe shareholders should consider in evaluating our Say-on-Pay proposal.

OVERVIEW OF COMPENSATION PHILOSOPHY AND PRACTICES

Record and Strategy-Focused Performance Through Year of Stabilization While Further Positioning the Company for Sustainable Growth

We achieved record Company performance in 2024, a year of industry-wide stabilization. We realized record revenues and led our public self-storage peers on other key metrics, including NOI and Core FFO per share. We also focused on continuing to enhance our industry-leading hybrid digital operating model and leveraged our proprietary data and analytics capabilities to further optimize our revenue management, asset management, and field operations. Although the acquisitions market was quiet, our growth-oriented balance sheet allowed us to opportunistically execute on a number of acquisitions, and our best-in-class development program delivered 1.5 million square feet while maintaining a robust pipeline of projects. These efforts position us well to unlock additional opportunities for growth and value creation in 2025 and beyond.

Highlights from our record performance include:

NOI and Core