Form 4: EXR CEO Joseph Margolis Reports Stock Transactions

Extra Space Storage CEO Joseph Margolis reported gifting and selling common stock, including a sale under a pre-arranged 10b5-1 trading plan.

Summary

• Joseph D. Margolis, Chief Executive Officer and Director of Extra Space Storage Inc. (EXR), reported multiple transactions involving the company's common stock.
• On March 6, 2026, Mr. Margolis gifted 14,452 shares of common stock directly, with a transaction price of $0.
• On the same date, March 6, 2026, 14,452 shares of common stock were acquired indirectly through the J Margolis & K Margolis TTEE Joseph Daniel Margolis Revocab U/A DTD 05/24/2013, also with a transaction price of $0.
• On March 13, 2026, Mr. Margolis sold 7,500 shares of common stock directly at a price of $142.08 per share.
• This sale transaction was executed pursuant to a Rule 10b5-1 trading plan adopted on February 28, 2025.
• Following these transactions, Mr. Margolis's direct beneficial ownership stands at 40,840 shares (after the first gift) and 73,995 shares (after the second gift, indirectly), and 66,495 shares (after the sale, indirectly).
• Indirect beneficial ownership also includes 97,260 shares held by Cove Hollow Lane I, LLC, and 9,190 shares held by Cove Hollow Lane II, LLC, with Mr. Margolis disclaiming beneficial ownership except to the extent of his pecuniary interest.

Sentiment

Score: 5

Explanation: StockSavvy.ai views this filing as neutral. While a CEO's sale of shares can sometimes be perceived negatively, the transaction was executed under a pre-arranged 10b5-1 plan, mitigating concerns of opportunistic selling. The gifting of shares also balances the overall sentiment.

Negatives

• Joseph D. Margolis, CEO, sold 7,500 shares of common stock for $142.08 per share, reducing his direct beneficial ownership.

Future Outlook

This Form 4 filing does not contain any forward-looking statements or guidance regarding the company's future outlook.

Industry Context

StockSavvy.ai notes that insider transaction reports like Form 4 provide transparency into management's stock holdings and trading activities. While a CEO's sale of shares can sometimes be viewed as a signal, the fact that this transaction was conducted under a pre-arranged 10b5-1 plan suggests it is a planned liquidity event rather than a reaction to new, undisclosed information, which is common practice among executives for financial planning.

Stakeholder Impact

• Shareholders gain transparency into the trading activities of a key executive, which can inform their perception of insider confidence.
• The sale of shares by the CEO, even under a 10b5-1 plan, represents a reduction in direct insider ownership.

Key Dates

Keywords

Extra Space Storage, EXR, Joseph Margolis, Insider Trading, Stock Sale, Form 4, CEO, Director, Common Stock, 10b5-1 Plan