{"schema_version":"secwatch.filing_event.v1","accession":"0001193125-23-193502","form_type":"8-K","ticker":"EXR","cik":"0001289490","company_name":"Extra Space Storage Inc.","filed_at":"2023-07-25T23:59:59+00:00","discovered_at":"2026-05-14T18:03:33.487593+00:00","generated_at":"2026-06-13T02:53:04.790342+00:00","sec_items":["1.01","2.03","9.01"],"event_type":"other_material","sentiment":"neutral","materiality_score":0.6,"calibrated_materiality_score":0.6,"confidence":"high","headline":"Extra Space Storage completes ~$2.35B exchange of Life Storage notes for new Extra Space OP notes","bullets":["Exchanged $582.6M of LSI 3.500% 2026 notes for new Extra Space OP 3.500% 2026 notes.","Exchanged $440.5M LSI 3.875% 2027 notes, $331.2M LSI 4.000% 2029 notes, $397.0M LSI 2.200% 2030 notes, $599.8M LSI 2.400% 2031 notes.","Post-exchange, only $48.9M of LSI notes remain outstanding across all five series.","New notes are fully guaranteed by Extra Space Storage Inc. and two business trusts; governed by indenture with restrictive covenants.","LSI and LSI Parent entered supplemental indenture eliminating substantially all restrictive covenants on remaining LSI notes."],"urls":{"canonical":"https://secwatch.observer/filing/0001193125-23-193502","json":"https://secwatch.observer/filing/0001193125-23-193502.json","markdown":"https://secwatch.observer/filing/0001193125-23-193502.md","text":"https://secwatch.observer/filing/0001193125-23-193502.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1289490/000119312523193502/0001193125-23-193502-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1289490/000119312523193502/d541032d8k.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-13T02:53:04.790342+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"4a7f435af6d44b31f51bfc79415ff05d57fdbe2b","claim":"Extra Space Storage Inc. incurred senior notes of $582,627,000 aggregate principal amount with Computershare Trust Company, N.A. at 3.500% per year maturing July 1, 2026.","evidence_excerpt":"issued in the same aggregate principal amounts: • $582,627,000 aggregate principal amount of 2026 Notes","evidence_source":"SEC 8-K Item 2.03/2.04","evidence_url":"https://www.sec.gov/Archives/edgar/data/1289490/000119312523193502/0001193125-23-193502-index.htm","confidence":0.9,"family_label":"Debt Financings","details":[{"label":"Instrument","value":"senior notes"},{"label":"Principal","value":"$582,627,000 aggregate principal amount"},{"label":"Counterparty","value":"Computershare Trust Company, N.A."},{"label":"Rate","value":"3.500% per year"},{"label":"Maturity","value":"July 1, 2026"},{"label":"Event","value":"incurrence"}],"fact_type":"debt_financing"},{"claim_id":"6897d5a85ae037dc857604e4703791b124783e83","claim":"Extra Space Storage Inc. incurred senior notes of $331,223,000 aggregate principal amount with Computershare Trust Company, N.A. at 4.000% per year maturing June 15, 2029.","evidence_excerpt":"In connection with the Exchange Offers, LSI and LSI Parent entered into a Sixth Supplemental Indenture, dated as of July 25, 2023 (the “ LSI Supplemental Indenture ”), by and between LSI, as issuer, LSI Parent, as parent guarantor, and Computershare Trust Company, N.A., as trustee, to eliminate (1) substantially all of the restrictive covenants applicable to the LSI Notes and (2) any of LSI and LSI Parent’s reporting obligations under the LSI Notes other than those required by applicable law.","evidence_source":"SEC 8-K Item 2.03/2.04","evidence_url":"https://www.sec.gov/Archives/edgar/data/1289490/000119312523193502/0001193125-23-193502-index.htm","confidence":0.9,"family_label":"Debt Financings","details":[{"label":"Instrument","value":"senior notes"},{"label":"Principal","value":"$331,223,000 aggregate principal amount"},{"label":"Counterparty","value":"Computershare Trust Company, N.A."},{"label":"Rate","value":"4.000% per year"},{"label":"Maturity","value":"June 15, 2029"},{"label":"Event","value":"incurrence"}],"fact_type":"debt_financing"},{"claim_id":"c199dc55f90215717f5c4be5deced79938bcbbfb","claim":"Extra Space Storage Inc. incurred senior notes of $599,788,000 aggregate principal amount with Computershare Trust Company, N.A. at 2.400% per year maturing October 15, 2031.","evidence_excerpt":"In connection with the Exchange Offers, LSI and LSI Parent entered into a Sixth Supplemental Indenture, dated as of July 25, 2023 (the “ LSI Supplemental Indenture ”), by and between LSI, as issuer, LSI Parent, as parent guarantor, and Computershare Trust Company, N.A., as trustee, to eliminate (1) substantially all of the restrictive covenants applicable to the LSI Notes and (2) any of LSI and LSI Parent’s reporting obligations under the LSI Notes other than those required by applicable law.","evidence_source":"SEC 8-K Item 2.03/2.04","evidence_url":"https://www.sec.gov/Archives/edgar/data/1289490/000119312523193502/0001193125-23-193502-index.htm","confidence":0.9,"family_label":"Debt Financings","details":[{"label":"Instrument","value":"senior notes"},{"label":"Principal","value":"$599,788,000 aggregate principal amount"},{"label":"Counterparty","value":"Computershare Trust Company, N.A."},{"label":"Rate","value":"2.400% per year"},{"label":"Maturity","value":"October 15, 2031"},{"label":"Event","value":"incurrence"}],"fact_type":"debt_financing"},{"claim_id":"d276060930fe71c32f73d9e477096a8be969ee00","claim":"Extra Space Storage Inc. incurred senior notes of $397,007,000 aggregate principal amount with Computershare Trust Company, N.A. at 2.200% per year maturing October 15, 2030.","evidence_excerpt":"In connection with the Exchange Offers, LSI and LSI Parent entered into a Sixth Supplemental Indenture, dated as of July 25, 2023 (the “ LSI Supplemental Indenture ”), by and between LSI, as issuer, LSI Parent, as parent guarantor, and Computershare Trust Company, N.A., as trustee, to eliminate (1) substantially all of the restrictive covenants applicable to the LSI Notes and (2) any of LSI and LSI Parent’s reporting obligations under the LSI Notes other than those required by applicable law.","evidence_source":"SEC 8-K Item 2.03/2.04","evidence_url":"https://www.sec.gov/Archives/edgar/data/1289490/000119312523193502/0001193125-23-193502-index.htm","confidence":0.9,"family_label":"Debt Financings","details":[{"label":"Instrument","value":"senior notes"},{"label":"Principal","value":"$397,007,000 aggregate principal amount"},{"label":"Counterparty","value":"Computershare Trust Company, N.A."},{"label":"Rate","value":"2.200% per year"},{"label":"Maturity","value":"October 15, 2030"},{"label":"Event","value":"incurrence"}],"fact_type":"debt_financing"},{"claim_id":"eb43592447988f1328a2701f34e7625fa46209bb","claim":"Extra Space Storage Inc. incurred senior notes of $440,493,000 aggregate principal amount with Computershare Trust Company, N.A. at 3.875% per year maturing December 15, 2027.","evidence_excerpt":"In connection with the Exchange Offers, LSI and LSI Parent entered into a Sixth Supplemental Indenture, dated as of July 25, 2023 (the “ LSI Supplemental Indenture ”), by and between LSI, as issuer, LSI Parent, as parent guarantor, and Computershare Trust Company, N.A., as trustee, to eliminate (1) substantially all of the restrictive covenants applicable to the LSI Notes and (2) any of LSI and LSI Parent’s reporting obligations under the LSI Notes other than those required by applicable law.","evidence_source":"SEC 8-K Item 2.03/2.04","evidence_url":"https://www.sec.gov/Archives/edgar/data/1289490/000119312523193502/0001193125-23-193502-index.htm","confidence":0.9,"family_label":"Debt Financings","details":[{"label":"Instrument","value":"senior notes"},{"label":"Principal","value":"$440,493,000 aggregate principal amount"},{"label":"Counterparty","value":"Computershare Trust Company, N.A."},{"label":"Rate","value":"3.875% per year"},{"label":"Maturity","value":"December 15, 2027"},{"label":"Event","value":"incurrence"}],"fact_type":"debt_financing"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}