Public Storage (PSA) 4: SPOGLI RONALD P bought 6 shares at $285.85 on 2026-10-06; S… (Oct 7, 2026)

=== SEC Form 4 — Statement of Changes in Beneficial Ownership === Document Type: 4 Period of Report: 2026-10-06 10b5-1 Pre-arranged Plan: No --- Issuer --- Name: Public Storage (PSA) CIK: 0001393311 --- Reporting Owner --- Name: SPOGLI RONALD P CIK: 0000916867 Role: Director --- Non-Derivative Transactions --- [Transaction #1] Security: Common Shares Date: 2026-10-06 | Code: A (Grant or award) Shares: +6.28 | Price: $285.85 Total Value: $1,795.14 Shares Owned After: 12,839.78 | Ownership: D (Direct) Footnotes: [F1] Grant of fully-vested deferred share units (DSUs) in lieu of dividend equivalents pursuant to the Company's Non-Management Trustee Compensation and Deferral Program under the Company's 2021 Equity and Performance-Based Incentive Compensation Plan. Each DSU represents the right to receive one Company common share. The number of DSUs granted represents the quotient of the dollar amount of the portion of the cash dividend equivalents paid on DSUs for the applicable calendar quarter Mr. Spogli has elected to be paid in DSUs, divided by the Company's closing share price on the grant date. The DSUs will be settled in unrestricted common shares (i) in a lump sum on January 1st of the calendar year following Mr. Spogli's separation from service as a trustee or (ii) in a lump sum upon Mr. Spogli's earlier death or disability or upon an earlier change of control of the Company. In accordance with Mr. Spogli's election, dividend equivalents paid on these DSUs will be issued as additional DSUs. [F2] Includes 2,676.78 DSUs. --- Holdings --- [Holding #1] Security: Common Shares Ownership: I (Indirect) Footnotes: [F3] By Ronald P. Spogli as trustee. --- Footnotes (Complete Index) --- F1: Grant of fully-vested deferred share units (DSUs) in lieu of dividend equivalents pursuant to the Company's Non-Management Trustee Compensation and Deferral Program under the Company's 2021 Equity and Performance-Based Incentive Compensation Plan. Each DSU represents the right to receive one Company common share. The number of DSUs granted represents the quotient of the dollar amount of the portion of the cash dividend equivalents paid on DSUs for the applicable calendar quarter Mr. Spogli has elected to be paid in DSUs, divided by the Company's closing share price on the grant date. The DSUs will be settled in unrestricted common shares (i) in a lump sum on January 1st of the calendar year following Mr. Spogli's separation from service as a trustee or (ii) in a lump sum upon Mr. Spogli's earlier death or disability or upon an earlier change of control of the Company. In accordance with Mr. Spogli's election, dividend equivalents paid on these DSUs will be issued as additional DSUs. F2: Includes 2,676.78 DSUs. F3: By Ronald P. Spogli as trustee. --- Signature --- /s/ /s/ Steven C. Babinski, Attorney-in-Fact (2026-10-07)