Public Storage (PSA) 4: HAVNER RONALD L JR bought 4 shares at $285.85 on 2026-10-06… (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: HAVNER RONALD L JR CIK: 0001227384 Role: Director --- Non-Derivative Transactions --- [Transaction #1] Security: Common Shares Date: 2026-10-06 | Code: A (Grant or award) Shares: +4.45 | Price: $285.85 Total Value: $1,272.03 Shares Owned After: 6,734.99 | 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. Havner 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 upon Mr. Havner's separation from service as a trustee or (ii) in a lump sum upon Mr. Havner's earlier death or disability or upon an earlier change of control of the Company. In accordance with Mr. Havner's election, dividend equivalents paid on these DSUs will be issued as additional DSUs. [F2] Includes 2,734.99 DSUs. Mr. Havner postponed receipt of 10,000 vested restricted share units granted February 19, 2015 with an original vesting date of April 1, 2016 in accordance with the following schedule: 10 equal installments over 10 years starting April 1, 2021 to April 1, 2030. 4,000 remain subject to deferred receipt and are also included here. --- Holdings --- [Holding #1] Security: Common Shares Ownership: I (Indirect) Footnotes: [F3] Ronald L. Havner and LeeAnn R. Havner, Trustee of Havner Family Trust. [Holding #2] Security: Common Shares Ownership: I (Indirect) --- 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. Havner 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 upon Mr. Havner's separation from service as a trustee or (ii) in a lump sum upon Mr. Havner's earlier death or disability or upon an earlier change of control of the Company. In accordance with Mr. Havner's election, dividend equivalents paid on these DSUs will be issued as additional DSUs. F2: Includes 2,734.99 DSUs. Mr. Havner postponed receipt of 10,000 vested restricted share units granted February 19, 2015 with an original vesting date of April 1, 2016 in accordance with the following schedule: 10 equal installments over 10 years starting April 1, 2021 to April 1, 2030. 4,000 remain subject to deferred receipt and are also included here. F3: Ronald L. Havner and LeeAnn R. Havner, Trustee of Havner Family Trust. --- Signature --- /s/ /s/ Tom Boyle, Attorney-in-Fact (2026-10-07)