PS Business Parks, Inc. proposed cash dividend of $5.25 per share of the CompanyÆs common stock, each payable immediately before the effective time of the merger of PS Business Parks, L.P. with an affiliate of Blackstone, to holders of record as of the close of business on the business day immediately preceding the closing date of the Transaction and contingent upon the approval of the merger of the Company with an affiliate of Blackstone by the CompanyÆs stockholders, the satisfaction or waiver of the other conditions to the Transaction and the previously announced Agreement and Plan of Merger, dated as of April 24, 2022.