Form 4: Public Storage Director Ronald L. Havner Jr. Reports Share Transfer to Trust
SEC Form 4 Filing
Director Ronald L. Havner Jr. reported a transfer of Public Storage shares to his trust on May 2, 2024, according to a Form 4 filing with the SEC.
Summary
- On May 2, 2024, Ronald L. Havner Jr., a director of Public Storage, filed a Form 4 with the SEC.
- The filing indicates a transfer of 696 common shares to Mr. Havner's trust.
- Following the transaction, Mr. Havner directly owns 8,410 common shares, which includes 2,410 deferred share units.
- He also indirectly owns 316,319 common shares through a trust and 1,900 shares through a spouse's IRA.
- The deferred share units relate to restricted share units granted on February 19, 2015, with deferred receipt in installments from April 1, 2021, to April 1, 2030; 6,000 remain subject to deferred receipt.
Sentiment
Score: 5
Explanation: The document is a standard SEC filing reporting a routine transaction. It doesn't inherently convey positive or negative sentiment.
Industry Context
Form 4 filings are a routine part of corporate governance, providing transparency into the transactions of company insiders. This filing indicates a transfer of shares for estate planning purposes, which is a common practice among corporate executives.
Stakeholder Impact
- The transaction has minimal direct impact on stakeholders as it is a transfer of shares to a trust and does not represent a sale or purchase on the open market.
Key Dates
| Date | Description |
|---|---|
| 02/19/2015 | Date of original grant of 10,000 vested restricted share units. |
| 04/01/2016 | Original vesting date of the restricted share units. |
| 04/01/2021 | Start date for the 10-year installment plan for deferred receipt of restricted share units. |
| 04/01/2030 | End date for the 10-year installment plan for deferred receipt of restricted share units. |
| 05/02/2024 | Date of the reported transaction (share transfer to trust). |
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