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Section 1: 8-K (8-K)

8-K

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

 

FORM 8-K

 

 

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(d)

OF THE SECURITIES EXCHANGE ACT OF 1934

Date of Report (Date of earliest event reported): April 15, 2019

 

 

PUBLIC STORAGE

(Exact name of registrant as specified in its charter)

 

 

 

Maryland   001-33519   95-3551121

(State or other jurisdiction

of incorporation)

 

(Commission

File Number)

 

(IRS. Employer

Identification No.)

 

701 Western Avenue,

Glendale, California

  91201-2349
(Address of principal executive offices)   (Zip Code)

(818) 244-8080

(Registrant’s telephone number, including area code)

 

 

Check the appropriate box below if the Form 8-K is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

 

Written communication pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company  ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards pursuant to Section 13(a) of the Exchange Act.  ☐

 

 

 


Item 5.02

Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers

On April 15, 2019, Lily Y. Hughes, Senior Vice President, Chief Legal Officer and Corporate Secretary of Public Storage (the “Company”) tendered her resignation to accept a position as chief legal officer of another public company closer to her family.

On April 18, 2019, the Board of Trustees of the Company promoted Nathaniel A. Vitan, the Company’s Vice President & Chief Counsel—Litigation & Operations since June 2016 to Senior Vice President, Chief Legal Officer and Corporate Secretary effective April 20, 2019. Ms. Hughes will work in close partnership with Mr. Vitan to ensure a smooth transition through May 31, 2019.

A copy of the Company’s press release is furnished hereto as Exhibit 99.1 to this Current Report on Form 8-K.

 

Item 9.01.

Financial Statements and Exhibits.

(d) Exhibits

 

Exhibit
No.

    
99.1    Press Release, dated April 19, 2019


SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

   

PUBLIC STORAGE

    By:  

/s/ Lily Y. Hughes

Date: April 19, 2019

     

Lily Y. Hughes

Senior Vice President,

Chief Legal Officer & Corporate Secretary

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Section 2: EX-99.1 (EX-99.1)

EX-99.1

Exhibit 99.1

News Release

Public Storage

701 Western Avenue

Glendale, CA 91201-2349

PublicStorage.com

 

  For Release:    Immediately
  Date:    April 19, 2019
  Contact:    Ryan Burke
     (818) 244-8080, Ext. 1141

Public Storage Announces Management Changes

GLENDALE, California–Joe Russell, President and Chief Executive Officer of Public Storage (NYSE:PSA), announced today two senior management changes.

Nathaniel A. Vitan has been promoted to Senior Vice President, Chief Legal Officer and Corporate Secretary effective April 20, 2019. Nathan joined the company in June 2016 as Vice President and Chief Counsel–Litigation and Operations. Prior to joining Public Storage, he was Assistant General Counsel for Altria Client Services, Inc. and served as a Trial Practice and Appellate Litigation Attorney at Latham & Watkins LLP.

Nathan succeeds Lily Y. Hughes, who tendered her resignation to pursue a Chief Legal Officer position at another public company with strong consideration given to being geographically closer to her family. Lily is committed to working in partnership with the team through May 31, 2019, in order to ensure an orderly transition.

“Lily has been an outstanding partner and we are grateful for her integrity and leadership and the many contributions she brought to Public Storage,” said Mr. Russell. “The Public Storage team is keenly focused on succession planning across the company, and we are excited to welcome Nathan to his new role. His multi-faceted experience, proven abilities and impeccable character make him well-suited for the position. The company and its shareholders will benefit from his continued leadership going forward.”

Company Information

Public Storage, a member of the S&P 500 and FT Global 500, is a REIT that primarily acquires, develops, owns and operates self-storage facilities. The Company’s headquarters are located in Glendale, California. At December 31, 2018, we had interests in 2,429 self-storage facilities located in 38 states with approximately 162 million net rentable square feet in the United States, and we owned a 35.2% common equity interest in Shurgard Self Storage SA (Euronext Brussels:SHUR), which owned 232 self-storage facilities located in seven Western European nations with approximately 13 million net rentable square feet operated under the “Shurgard” brand. We also own a 42% common equity interest in PS Business Parks, Inc. (NYSE:PSB), which owned and operated approximately 28 million rentable square feet of commercial space at December 31, 2018.

Additional information about Public Storage is available on the Internet. The Company’s website is PublicStorage.com.

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