Lisa R. Cohn - 15 Feb 2024 Form 4 Insider Report for National Storage Affiliates Trust (NSA)

Role
Director
Signature
Lisa R. Cohn, by Jason Parsont, her Attorney-in-Fact
Issuer symbol
NSA
Transactions as of
15 Feb 2024
Net transactions value
+$49,997
Form type
4
Filing time
20 Feb 2024, 16:09:34 UTC
Previous filing
03 Jan 2024
Next filing
20 May 2024
SEC
View on sec.gov

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
transaction NSA Class A OP Units Award $49,997 +1,352 $36.98 1,352 15 Feb 2024 Common shares of beneficial interest, $0.01 par value 1,352 Direct F1, F2, F3, F4, F5
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 The 1,352 Class A common units of limited partner interest ("Class A OP Units") in NSA OP, LP (the "Partnership") are issuable upon the conversion of 1,352 long-term incentive plan units ("LTIP Units") in the Partnership. The LTIP Units were granted to the Reporting Person under the Issuer's 2015 Equity Incentive Plan, and are scheduled to vest on February 15, 2026, subject to the Reporting Person remaining a trustee at that time. Vested LTIP Units, after achieving parity with Class A OP Units, are eligible to be converted into Class A OP Units on a one-for-one basis upon the satisfaction of conditions set forth in the Partnership's agreement of limited partnership.
F2 Upon conversion of such vested parity LTIP Units into Class A OP Units, the Reporting Person will have the right to cause the Partnership to redeem 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 Issuer's common shares of beneficial interest ("Shares"), or at the Issuer's option, Shares on a one-for-one basis, subject to certain adjustments.
F3 N/A
F4 The price of the derivative securities was determined using the closing price of the Issuer's Shares on February 15, 2024.
F5 The Reporting Person's total direct beneficial ownership following the reported transactions above is 1,352 Class A OP Units (together with those securities convertible into, or exchangeable for, such Class A OP Units as specified herein). Following the reported transactions, the Reporting Person has total direct beneficial ownership in 0 vested LTIP Units and 1,352 unvested LTIP Units.