Form 4 Filing for Ronald P. Spogli

This filing details a Form 4 submission by Ronald P. Spogli, a director at Public Storage. On October 6, 2026, Spogli acquired 6.28 Common Shares through the grant of fully-vested deferred share units (DSUs) as a form of dividend equivalent payment. These DSUs are part of the Company's Non-Management Trustee Compensation and Deferral Program. Each DSU is convertible into one Company common share. The number of DSUs granted was determined by the portion of cash dividend equivalents Mr. Spogli elected to receive in DSUs, divided by the Company's closing share price on the grant date. These DSUs will be settled in common shares upon Spogli's separation from service, death, disability, or a change of control. The filing also notes that 2,676.78 DSUs are included in his holdings, and his total shares owned following these transactions amount to 12,839.78. He also holds 2,000 shares directly, held by a trust.