Company: PSA-PH
Filing Date: 2025-03-28
Form Type: DEF 14A
Source: 0000950170-25-046747
Chunk: 36

Company: Public Storage
Filing Date: 2025-03-28
Form: DEF 14A
Chunk 36
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 -3 |     |              | $ | 180,031 |     |       | $ | 350,031 |
| Paul S. Williams          |     |                | $   | 145,000 |     | -3 |     |              | $ | 180,031 |     |       | $ | 325,031 |
|                           |     |                | Ms. |         |     |    |     |              |   |         |     |       |   |         |

Reflects the fair value of the grant on May 7, 2024, of stock options to acquire 3,600 common shares or, at the option of each trustee, 3,600 AO LTIP Units, except for Ms. Hawthorne, Ms. Heisz, Mr. Neithercut, and Mr. Russell. For Ms. Hawthorne, reflects the fair value of the grant on July 25, 2024, of 9,806 AO LTIP Units in connection with her appointment as a trustee. Ms. Heisz and Mr. Neithercut ceased to be trustees effective May 7, 2024 and were not granted a stock option/AO LTIP Unit award. Given his position as an executive officer of the Company, Mr. Russell did not receive any option/AO LTIP Unit awards as a trustee for 2024. For a more detailed discussion of the assumptions used in the calculation of these amounts, refer to Note 11 to the Company’s audited financial statements for the year ended December 31, 2024 included in the Company’s Annual Report on Form 10-K.

As of December 31, 2024, each non-management trustee had the following numbers of options and AO LTIP Units outstanding: Mr. Havner: 339,077 AO LTIP Units, of which 330,422 were fully vested and exercisable; Ms. Gustavson: 24,089

#### Public Storage | 2025 Proxy Statement |35

#### Corporate Governance
AO LTIP Units, of which 15,434 were fully vested and exercisable; Ms. Hawthorne: 9,806 AO LTIP Units, of which none were fully vested and exercisable; Ms. Heisz: 10,271 options, of which 10,271 were fully vested and exercisable; Mr. Mitra: 27,533 options, of which 18,878 were fully vested and exercisable; Mr. Neithercut: 3,442