8-K/AShareholder Matters

Public Storage 8-K/A Report, Shareholder Vote Results (Sep 19, 2017)

Filed September 19, 2017For Securities:PSAPSA-PRPSA-PFPSA-PGPSA-PHPSA-PIPSA-PJPSA-PMPSA-PNPSA-POPSA-PPPSA-PQPSA-PSPSA-PKPSA-PL

Summary

This 8-K/A filing from Public Storage (PSA) is an amendment to a previous filing and does not introduce new financial or operational information. Its sole purpose is to provide an update on the frequency of shareholder advisory votes on executive compensation. The company confirmed that shareholders approved, on an advisory basis, holding an annual vote on executive compensation. Following this vote, Public Storage's Board of Trustees decided to maintain its existing policy of conducting this advisory vote annually. Therefore, the next shareholder advisory vote on named executive officer compensation will occur at the 2018 Annual Meeting of Shareholders. Investors should note that this filing primarily clarifies corporate governance procedures rather than impacting the company's financial performance or strategic direction.

Key Highlights

  • 1Amendment to a previous 8-K filing, filed on September 19, 2017.
  • 2The filing provides additional information regarding the frequency of shareholder advisory votes on executive compensation.
  • 3Shareholders approved, on an advisory basis, holding an annual vote on executive compensation at the 2017 Annual Meeting.
  • 4Public Storage's Board of Trustees will continue its policy of conducting an annual advisory vote on executive compensation.
  • 5The next advisory vote on executive compensation is scheduled for the 2018 Annual Meeting of Shareholders.
  • 6No changes were made to the original filing content, which was filed on April 26, 2017.

Frequently Asked Questions

The main purpose of this 8-K/A filing is to provide an update on the frequency of shareholder advisory votes regarding the compensation of Public Storage's named executive officers, clarifying that the company will continue its practice of holding these votes annually.

Yes, at the 2017 Annual Meeting of Shareholders held on April 26, 2017, shareholders approved, on an advisory basis, holding an annual vote on the compensation of the company's named executive officers.

Public Storage's Board of Trustees has decided to maintain its existing policy of conducting an annual advisory vote on executive compensation. This means the practice will continue on a yearly basis.

The next shareholder advisory vote on the compensation of named executive officers will take place at the company's 2018 Annual Meeting of Shareholders.