Public Storage (PSA) 4: Mitra Shankh bought 128 shares of Common Shares at $259.50… (Jan 2, 2026)

=== SEC Form 4 — Statement of Changes in Beneficial Ownership === Document Type: 4 Period of Report: 2025-12-31 10b5-1 Pre-arranged Plan: No --- Issuer --- Name: Public Storage (PSA) CIK: 0001393311 --- Reporting Owner --- Name: Mitra Shankh CIK: 0001698445 Role: Director --- Non-Derivative Transactions --- [Transaction #1] Security: Common Shares Date: 2025-12-31 | Code: A (Grant or award) Shares: +128 | Price: $259.50 Total Value: $33,216.00 Shares Owned After: 8,896 | Ownership: D (Direct) Footnotes: [F1] Grant of unrestricted Company common shares pursuant to the Company's Non-Management Trustee Compensation and Deferral Program under the Company's Amended and Restated 2021 Equity and Performance-Based Incentive Compensation Plan. The number of shares granted represents the quotient of the dollar amount of the portion of the cash retainers the reporting person has earned for the applicable calendar quarter and elected to be paid in common shares, divided by the Company's closing share price on the grant date, rounded up to the nearest share. --- Footnotes (Complete Index) --- F1: Grant of unrestricted Company common shares pursuant to the Company's Non-Management Trustee Compensation and Deferral Program under the Company's Amended and Restated 2021 Equity and Performance-Based Incentive Compensation Plan. The number of shares granted represents the quotient of the dollar amount of the portion of the cash retainers the reporting person has earned for the applicable calendar quarter and elected to be paid in common shares, divided by the Company's closing share price on the grant date, rounded up to the nearest share. --- Signature --- /s/ /s/ Steven C. Babinski, Attorney-in-Fact (2026-01-02)