Item 5.02. Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
On January 18, 2022, PS Business Parks, Inc. (the "Company") announced that Dan
"Mac" Chandler, III, the Company's President and Chief Executive Officer, is
taking a temporary leave of absence for health reasons unrelated to the
coronavirus (COVID-19) pandemic, effective January 17, 2022. In connection with
Mr. Chandler's leave of absence, on January 17, 2022, the Company's Board of
Directors appointed Stephen W. Wilson to serve as interim President and Chief
Executive Officer and Maria R. Hawthorne to serve as interim Chief Operating
Officer until Mr. Chandler returns from his leave of absence. Mr. Wilson has
been a director of the Company since 2019 and served as Executive Vice
President-Development at AvalonBay Communities, Inc. (NYSE:AVB) prior to his
retirement in 2019. Ms. Hawthorne has been a Company director since 2016 and
previously served in various senior leadership positions at the Company,
including as President and Chief Executive Officer, prior to her retirement in
2021.
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PS BUSINESS PARKS, INC. 
