Company: PSA-PH
Filing Date: 2025-02-24
Form Type: 10-K
Source: 0001393311-25-000036
Chunk: 145

Company: Public Storage
Filing Date: 2025-02-24
Form: 10-K
Item: Item 15
Chunk 145
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,425 270.79 Exercised(272,250)(167.15)(34,401)(221.68)(306,651)(173.26)Cancelled(12,049)(293.81)(34,987)(229.34)(47,036)(245.86)Awards outstanding December 31, 2023 1,629,742 $218.83 1,421,479 $234.16 3,051,221 $225.97 Granted (d)110,084 278.82 87,782 297.12 197,866 286.94 Exercised or converted (e)(381,850)(194.09)(301,498)(221.83)(683,348)(206.33)Cancelled(10,110)(320.69)(5,164)(221.68)(15,274)(287.21)Awards outstanding December 31, 20241,347,866 $229.98 1,202,599 $241.90 2,550,465 $235.60 Awards exercisable or convertible at December 31, 20241,187,232 $221.59 612,112 $221.97 1,799,344 $221.72 (a)Number of performance-based awards are presented based on the target performance pursuant to the terms of each applicable award when granted and adjusted to the actual number of awards earned based on the actual performance.(b)On August 4, 2022, we paid a Special Dividend of $13.15 per common share to shareholders of record as of August 1, 2022. Stock options that were outstanding at the time of the Special Dividend were adjusted pursuant to the anti-dilution provisions of the Company’s applicable equity and performance-based incentive compensation plans that provide for equitable adjustments in the event of an extraordinary cash dividend. The anti-dilution adjustments proportionately increased the number of outstanding stock options and reduced the exercise prices of outstanding stock options by a conversion rate of 1.03275, resulting in an increase of 104,348 stock options outstanding. The adjustments did not result in incremental share-based compensation expense.(c)Amount granted for performance-based stock options includes 63,257 options for payout adjustments based on Total Shareholder Return modifier for options granted in 2021.(d)Amount granted for performance-based awards includes 24,065 AO LT