Public Storage directors sell 3.1 million shares, keep 12.5% stake

By Lisa Kerner

Charlotte, N.C., Sept. 17 - Public Storage directors B. Wayne Hughes Jr. and Tamara Hughes Gustavson sold 3.1 million shares of the company's stock in the open market between Aug. 26 and Sept. 11, according to a schedule 13D/A filed with the Securities and Exchange Commission on Thursday.

The shares were priced from $68.21 to $71.64 each.

With the sales, Hughes Gustavson now beneficially owns 21,240,121 shares, or 12.5%, of the Glendale, Calif., real estate investment trust, which operates self-storage facilities.

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