---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-23-211436"
form_type: "8-K12B"
ticker: "PSA"
cik: "0001393311"
company_name: "Public Storage"
filed_at: "2023-08-14T23:59:59+00:00"
generated_at: "2026-06-11T10:28:26.485120+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.3
calibrated_materiality_score: 0.3
confidence: "high"
source: SEC EDGAR
---

# Public Storage completes UPREIT reorganization; common shares trade unchanged on NYSE

## Summary
- Old PSA renamed Public Storage Operating Co; New PSA inherits 'Public Storage' name.
- Each old common share converted 1:1 into new common share; same ticker (PSA) and CUSIP.
- Board of trustees and executive officers unchanged after the Merger.
- New PSA guarantees Old PSA's $1.5B credit facility and unsecured notes.
- Reorganization qualifies as tax-free reorganization under Section 368(a); no gain/loss for shareholders.

## SEC filing metadata
- accession: 0001193125-23-211436
- form_type: 8-K12B
- ticker: PSA
- cik: 0001393311
- company_name: Public Storage
- filed_at: 2023-08-14T23:59:59+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.3
- calibrated_materiality_score: 0.3
- confidence: high
- sec_items: 1.01, 3.01, 3.03, 5.02, 5.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1393311/000119312523211436/0001193125-23-211436-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1393311/000119312523211436/d542893d8k12b.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-23-211436
- JSON: https://secwatch.observer/filing/0001193125-23-211436.json
- Plain text: https://secwatch.observer/filing/0001193125-23-211436.txt

## Key facts
- Governance Changes
  Public Storage: Effective upon the merger, New PSA's Amended and Restated Bylaws became effective, reflecting the name change to 'Public Storage' and non-substantive revisions related to the Reorganization (effective 2023-08-14).
  - Change: bylaw amendment
  - Effective: 2023-08-14
  source text: On August 14, 2023, after the Effective Time, the Amended and Restated Declaration of Trust and Amended and Restated Bylaws of New PSA became effective.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1393311/000119312523211436/0001193125-23-211436-index.htm
- Governance Changes
  Public Storage: Effective upon the merger, New PSA's Amended and Restated Declaration of Trust became effective, with changes only for the name change to 'Public Storage' and non-substantive revisions related to the Reorganization (effective 2023-08-14).
  - Change: charter amendment
  - Effective: 2023-08-14
  source text: On August 14, 2023, after the Effective Time, the Amended and Restated Declaration of Trust and Amended and Restated Bylaws of New PSA became effective.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1393311/000119312523211436/0001193125-23-211436-index.htm
- Material Agreements
  Public Storage entered into Sixteenth Supplemental Indenture with Computershare Trust Company, N.A. (effective 2023-08-14).
  - Action: entry
  - Agreement: notes offering
  - Counterparty: Computershare Trust Company, N.A.
  - Effective: 2023-08-14
  source text: on August 14, 2023, Old PSA and New PSA entered into a supplemental indenture (the "Sixteenth Supplemental Indenture") with Computershare Trust Company, N.A.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1393311/000119312523211436/0001193125-23-211436-index.htm
- Material Agreements
  Public Storage entered into Merger Agreement.
  - Action: entry
  - Agreement: merger
  source text: Merger Agreement As disclosed above, the Merger became effective at the Effective Time. The Merger was approved by Old PSA’s board of trustees.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1393311/000119312523211436/0001193125-23-211436-index.htm

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