| Type | Sym | Class | Transaction | Value $ | Shares | Change % | * Price $ | Shares After | Date | Underlying Class | Amount | Exercise Price | Ownership | Footnotes |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| transaction | NSA | Class B OP Units, Series OV | Options Exercise | $0 | -20,000 | -38% | $0.000000 | 32,796 | 22 Feb 2022 | Class A OP Units | 20,000 | See Footnote | F1, F2, F3, F4, F5, F6 | |
| transaction | NSA | Class A OP Units | Options Exercise | $0 | +52,954 | +51% | $0.000000 | 155,782 | 22 Feb 2022 | Common shares of beneficial interest, $0.01 par value | 52,954 | See Footnote | F1, F2, F3, F4, F5, F6 |
| Id | Content |
|---|---|
| F1 | Pursuant to the agreement of limited partnership of NSA OP, LP (the "Partnership"), following a two-year lock-out period, a holder of Class B common units of limited partner interest, Series OV ("Class B OP Units") may elect a voluntary conversion ("Voluntary Conversion") upon the achievement of certain performance thresholds relating to the properties to which such Class B OP Units relate one time each year prior to December 1st to convert a pre-determined portion of Class B OP Units into Class A common units of limited partner interest ("Class A OP Units") in the Partnership. |
| F2 | Such Voluntary Conversion is effective January 1st of the following year with each Class B OP Unit being converted into the number of Class A OP Units determined by dividing the average cash available for distribution per unit on the series of specific Class B OP Units over the one-year period prior to the conversion effective date by 110% of the cash available for distribution per unit on the Class A OP Units determined over the same period. |
| F3 | The Reporting Person made an election prior to December 1, 2021 with respect to a Voluntary Conversion of 20,000 Class B OP Units held by Van Mourick Diversified, LP for the which the Reporting Person has or shares voting and investment power. Following the completion of the audit of National Storage Affiliates Trust (the "Issuer"), the Issuer notified the Reporting Person on February 22, 2022 that such Class B OP Units converted into 52,954 Class A OP Units effective January 1, 2022. The Reporting Person has the right to cause the Partnership to redeem all or a portion of the Reporting Person's Class A OP Units for cash in an amount equal to the market value of an equivalent number of the common shares of beneficial interest ("Shares") of Issuer, or at the Issuer's option, Shares on a one-for-one basis, subject to certain adjustments. |
| F4 | N/A |
| F5 | The Reporting Person's total direct and indirect beneficial ownership of Class B OP Units following the reported transaction above is 32,796, which includes those Class B OP Units previously reported and the Class B OP Units reported herein (together with those securities convertible into, or exchangeable for, such Class B OP Units as specified therein). The Reporting Person's total direct and indirect beneficial ownership of Class A OP Units following the reported transactions above is 155,782, which includes those Class A OP Units previously reported and the Class A OP Units reported herein (together with those securities convertible into, or exchangeable for, such Class A OP Units as specified therein). |
| F6 | This filing shall not be deemed to be an admission that the Reporting Person is the beneficial owner of any of the securities reported herein, and the Reporting Person disclaims beneficial ownership of such securities except to the extent of the Reporting Person's pecuniary interest therein. |