---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-23-201692"
form_type: "8-K"
ticker: "PSA"
cik: "0001393311"
company_name: "Public Storage"
filed_at: "2023-08-02T23:59:59+00:00"
generated_at: "2026-06-12T12:25:20.357363+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.4
calibrated_materiality_score: 0.4
confidence: "high"
source: SEC EDGAR
---

# Public Storage to reorganize into UPREIT holding company structure effective August 14, 2023

## Summary
- Merger of Merger Sub into Public Storage will make New PSA the new public parent; no shareholder vote required.
- All outstanding common and preferred shares convert automatically into New PSA shares with identical terms, tickers, and CUSIP numbers.
- No change to Public Storage's assets, liabilities, management, dividends, or federal income tax treatment for shareholders.
- UPREIT structure expected to enable tax-deferred property acquisitions and equity compensation programs.
- Effective date expected August 14, 2023; shares continue trading on NYSE under same symbols.

## SEC filing metadata
- accession: 0001193125-23-201692
- form_type: 8-K
- ticker: PSA
- cik: 0001393311
- company_name: Public Storage
- filed_at: 2023-08-02T23:59:59+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.4
- calibrated_materiality_score: 0.4
- confidence: high
- sec_items: 5.03, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1393311/000119312523201692/0001193125-23-201692-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1393311/000119312523201692/d499749d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-23-201692
- JSON: https://secwatch.observer/filing/0001193125-23-201692.json
- Plain text: https://secwatch.observer/filing/0001193125-23-201692.txt

## Key facts
- Governance Changes
  Public Storage: Reclassified authorized but unissued preferred shares and equity shares as undesignated shares (effective 2023-08-03).
  - Change: charter amendment
  - Effective: 2023-08-03
  source text: to reclassify all of the authorized but unissued preferred shares and equity shares that were previously issued and then redeemed as undesignated preferred shares and equity shares of beneficial interest, $0.01 par value per share.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1393311/000119312523201692/0001193125-23-201692-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.