# EDGAR Filing Document

**Accession Number:** 0001393311
**File Stem:** 0001193125-23-076677
**Filing Date:** 2023-3
**Character Count:** 7075
**Document Hash:** ba556736218fbe543c95bf842dfbf282
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001193125-23-076677.hdr.sgml**: 20230322

**ACCESSION NUMBER**: 0001193125-23-076677

**CONFORMED SUBMISSION TYPE**: DEFA14A

**PUBLIC DOCUMENT COUNT**: 7

**FILED AS OF DATE**: 20230322

**DATE AS OF CHANGE**: 20230322

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Public Storage
- **CENTRAL INDEX KEY:** 0001393311
- **STANDARD INDUSTRIAL CLASSIFICATION:** REAL ESTATE INVESTMENT TRUSTS [6798]
- **IRS NUMBER:** 953551121
- **STATE OF INCORPORATION:** MD
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** DEFA14A
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-33519
- **FILM NUMBER:** 23752954

**BUSINESS ADDRESS:**
- **STREET 1:** 701 WESTERN AVENUE
- **CITY:** GLENDALE
- **STATE:** CA
- **ZIP:** 91201-2349
- **BUSINESS PHONE:** 818-244-8080

**MAIL ADDRESS:**
- **STREET 1:** 701 WESTERN AVENUE
- **CITY:** GLENDALE
- **STATE:** CA
- **ZIP:** 91201-2349

**United States** 

**Securities and Exchange Commission** 

**Washington, D.C. 20549** 

**SCHEDULE 14A** 

**Proxy Statement Pursuant To Section 14(a) of** 

**the Securities Exchange Act of 1934** 

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| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;x **Filed by the Registrant** | o **Filed by a Party other than the Registrant** |

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| | |
|:---|:---|
| **Check the appropriate box:** | **Check the appropriate box:** |
|  <br> o<br>| <br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Preliminary Proxy Statement**<br>|
|  o<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Confidential, for Use of the Commission Only (as permitted by Rule 14a-6(e)(2))**<br>|
|  o<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Definitive Proxy Statement**<br>|
|  x<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Definitive Additional Materials**<br>|
|  o | **Soliciting Material under § 240.14a-12** |

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## PUBLIC STORAGE
![LOGO](g467732g07m41.jpg)

**(Name of Registrant as Specified in Its Charter)** 

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| | |
|:---|:---|
| **Payment of Filing Fee (Check all boxes that apply):** | **Payment of Filing Fee (Check all boxes that apply):** |
| <br> x | <br> **No fee required.** |
| <br> o | <br> **Fee paid previously with preliminary materials.** |
| <br> o | <br> **Fee computed on table in exhibit required by Item 25(b) per Exchange Act Rules 14a-6(i)(1) and 0-11.** |

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| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>PUBLIC STORAGE<br>ATTN: INVESTOR SERVICES DEPARTMENT<br>701 WESTERN AVENUE<br>GLENDALE, CA 91201-2349<br>| ![LOGO](g467732sp002.jpg) |

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![LOGO](g467732sp001a.jpg)

**You invested in PUBLIC STORAGE and it's time to vote!** 

You have the right to vote on proposals being presented at the 2023 Annual Meeting. **This is an important notice regarding the availability of proxy material(s) for the shareholder meeting to be held on May 2, 2023.**

**Get informed before you vote** 

View the Notice of Meeting, Proxy Statement and Annual Report online OR you can receive a free paper or email copy of the material(s) by requesting them prior to April 18, 2023. If you would like to receive a copy of the material(s) for this and/or future shareholder meetings, you must request one. To request a copy of the material(s), you may (1) visit www.ProxyVote.com, (2) call 1-800-579-1639 or (3) send an email to sendmaterial@proxyvote.com. If sending an email, please include your control number (indicated below) in the subject line. Unless requested, you will not otherwise receive a paper or email copy.

![LOGO](g467732sp002a.jpg)

\* Please check the meeting materials for any special requirements for meeting attendance. At the meeting, you will need to request a ballot to vote these shares. 

V1.1

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**Vote at www.ProxyVote.com** 

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**THIS IS NOT A VOTABLE BALLOT**

This is an overview of the proposals being presented at the

upcoming shareholder meeting. Please follow the instructions on

the reverse side to vote these important matters.

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| | | |
|:---|:---|:---|
| &nbsp;&nbsp; **Voting Items** | &nbsp;&nbsp; **Voting Items** | **Board Recommends** |
| 1. | Election of Trustees |  |
|  | **Nominees:** |  |
| &nbsp;&nbsp; 1a. | Ronald L. Havner, Jr. | **![LOGO](g467732sp003b.jpg) For** |
| &nbsp;&nbsp; 1b. | Tamara Hughes Gustavson | **![LOGO](g467732sp003b.jpg) For** |
| &nbsp;&nbsp; 1c. | Leslie S. Heisz | **![LOGO](g467732sp003b.jpg) For** |
| &nbsp;&nbsp; 1d. | Shankh S. Mitra | **![LOGO](g467732sp003b.jpg) For** |
| &nbsp;&nbsp; 1e. | David J. Neithercut | **![LOGO](g467732sp003b.jpg) For** |
| &nbsp;&nbsp; 1f. | Rebecca Owen | **![LOGO](g467732sp003b.jpg) For** |
| &nbsp;&nbsp; 1g. | Kristy M. Pipes | **![LOGO](g467732sp003b.jpg) For** |
| &nbsp;&nbsp; 1h. | Avedick B. Poladian | **![LOGO](g467732sp003b.jpg) For** |
| &nbsp;&nbsp; 1i. | John Reyes | **![LOGO](g467732sp003b.jpg) For** |
| &nbsp;&nbsp; 1j. | Joseph D. Russell, Jr. | **![LOGO](g467732sp003b.jpg) For** |
| &nbsp;&nbsp; 1k. | Tariq M. Shaukat | **![LOGO](g467732sp003b.jpg) For** |
| &nbsp;&nbsp; 1l. | Ronald P. Spogli | **![LOGO](g467732sp003b.jpg) For** |
| &nbsp;&nbsp; 1m. | Paul S. Williams | **![LOGO](g467732sp003b.jpg) For** |
| 2. | Advisory vote to approve the compensation of the Company's Named Executive Officers. | **![LOGO](g467732sp003b.jpg) For** |
| 3. | Advisory vote regarding the frequency of future advisory votes to approve the compensation of the Company's Named Executive Officers. | **![LOGO](g467732sp003b.jpg) 1 Year** |
| 4. | Ratification of the appointment of Ernst & Young LLP as the Company's independent registered public accounting firm for the fiscal year ending December 31, 2023. | **![LOGO](g467732sp003b.jpg) For** |
| 5. | Shareholder proposal requesting that the Company's Board of Trustees issue short- and long-term Scope 1-3 greenhouse gas reduction targets aligned with the Paris Agreement. | **![LOGO](g467732sp003a.jpg) Against** |
| &nbsp;&nbsp; **NOTE:** Other matters: In their discretion, the Proxies and/or the Trustee are authorized to vote upon such other business as may properly come before the meeting. | &nbsp;&nbsp; **NOTE:** Other matters: In their discretion, the Proxies and/or the Trustee are authorized to vote upon such other business as may properly come before the meeting. |  |

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