Form 4: Extra Space Storage CEO Sells Shares Under 10b5-1 Trading Plan
SEC Form 4 Filing
Extra Space Storage CEO Joseph D. Margolis sold 7,500 shares of common stock on January 2, 2025, under a pre-arranged 10b5-1 trading plan.
Summary
- Joseph D. Margolis, CEO of Extra Space Storage Inc., sold 7,500 shares of common stock on January 2, 2025, at a price of $148.01 per share.
- The sale was executed under a Rule 10b5-1 trading plan adopted on March 1, 2024.
- Following the transaction, Margolis directly owns 16,690 shares and indirectly owns 61,865 shares through Cove Hollow Lane II, LLC, 34,760 shares through J Margolis & K Margolis TTEE, and 97,260 shares through Cove Hollow Lane I, LLC.
- Margolis disclaims beneficial ownership of shares held by Cove Hollow Lane I, LLC and Cove Hollow Lane II, LLC, except to the extent of his pecuniary interest.
Sentiment
Score: 5
Explanation: The document is a routine SEC filing for an insider stock sale under a pre-arranged plan, which is neither positive nor negative in itself.
Industry Context
This is a routine filing for insider transactions and is common for executives who use 10b5-1 plans to manage their stock sales.
Comparison to Industry Standards
- The use of 10b5-1 trading plans is a common practice among executives at publicly traded companies, including competitors in the self-storage industry such as Public Storage (PSA) and CubeSmart (CUBE).
- These plans allow executives to sell shares without being accused of insider trading, as the sales are pre-scheduled and not based on non-public information.
- The volume of shares sold is relatively small compared to the total outstanding shares of Extra Space Storage, and is not unusual for an executive's planned sales.
Stakeholder Impact
- The stock sale by the CEO may have a minor impact on shareholder sentiment, but is unlikely to significantly affect the company's operations or financial performance.
Key Dates
| Date | Description |
|---|---|
| 03/01/2024 | Date the Rule 10b5-1 trading plan was adopted by the reporting person. |
| 01/02/2025 | Date of the stock sale transaction. |
| 01/06/2025 | Date the Form 4 was signed. |
Keywords
Extra Space Storage, EXR, insider trading, Form 4, Joseph D. Margolis, 10b5-1 trading plan, stock sale, executive
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