Company: PSA-PH
Filing Date: 2025-03-28
Form Type: DEF 14A
Source: 0000950170-25-046747
Chunk: 67

Company: Public Storage
Filing Date: 2025-03-28
Form: DEF 14A
Chunk 67
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 the annual cash incentive payouts as follows: Mr. Russell, 80%; Mr. Boyle, 82%; Ms. Johnson, 90%; and Mr. Vitan, 86% of target. See the “Compensation Discussion and Analysis” section of this proxy statement for further discussion of the 2024 performance targets and payouts.

The amounts shown in this column for all NEOs reflect contributions to each officer’s 401(k) Plan account (4% of the annual cash compensation up to a maximum of $12,200 for 2022, $13,200 for 2023, and $13,800 for 2024). For Mr. Russell, the amount shown in 2023 and 2024 include a $5,000 payment for attending in-person a meeting of the board of directors of the Company’s insurance subsidiary.

Mr. Sambar joined the Company on October 14, 2024.

#### Public Storage | 2025 Proxy Statement |65
Proposal 2: Approve Executive Compensation

Grants of Plan-Based Awards.The following table sets forth information relating to estimated future payouts under non-equity incentive plan awards, AO LTIP Unit awards, and LTIP Unit awards granted pursuant to our equity incentive plans during the year ended December 31, 2024, to each of our NEOs.

|                        |     |           |     | Estimated Future Payouts   
 Under Non-Equity Incentive 
 Plan Awards ($)(1)         |         |     |        |           |     |         |           |     | Estimated Future Payouts 
 Under Equity Incentive   
 Plan Awards (#)(1)       |       |     |        |        |     |         |        |     | All Other RSU |        |     | All Other  
 Option     
 Awards:    
 Number of  
 Securities 
 Underlying |        |     | Exercise 
 or Base  
 Price of 
 Option   |        |     | Grant Date 
 Fair Value 
 of Stock   
 and        
 Option     |           |
| Name                   |     | Grant     
 Date      |     | Threshold                  |         |     | Target |           |     | Maximum |           |     | Threshold                |       |     | Target |        |     | Maximum |        |     | Awards        
 (#)           |        |     | Options    
 (#)(2)     |        |     | Awards   
 ($)      |        |     | Awards     
 ($)(3)(4)  |           |
| Joseph D