Michael J. Schall - May 13, 2024 Form 4 Insider Report for National Storage Affiliates Trust (NSA)

Role
Director
Signature
Michael J. Schall, by Jason Parsont, his Attorney-in-fact
Stock symbol
NSA
Transactions as of
May 13, 2024
Transactions value $
$50,025
Form type
4
Date filed
5/15/2024, 04:11 PM
Previous filing
Jan 3, 2024
Next filing
May 20, 2024

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 $50K +1.36K $36.81 1.36K May 13, 2024 Common shares of beneficial interest, $0.01 par value 1.36K 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 1,359 Class A common units of limited partner interest ("Class A OP Units") in NSA OP, LP (the "Partnership") are issuable upon the conversion of 1,359 long-term incentive plan units ("LTIP Units") in the Partnership. The LTIP Units were granted to the Reporting Person under the Issuer's 2024 Equity Incentive Plan, and are scheduled to vest on May 13, 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 May 13, 2024.
F5 The Reporting Person's total direct beneficial ownership following the reported transactions above is 1,359 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 1,359 unvested LTIP Units.