Warren Allan - Aug 15, 2024 Form 3 Insider Report for National Storage Affiliates Trust (NSA)

Role
Director
Signature
Warren W. Allan, by Zoya F. Afridi, his Attorney-in-fact
Stock symbol
NSA
Transactions as of
Aug 15, 2024
Transactions value $
$0
Form type
3
Date filed
8/19/2024, 04:05 PM
Next filing
Oct 1, 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
holding NSA Class A OP Units Aug 15, 2024 Common shares of beneficial interest, $0.01 par value 599K Direct F1, F2, F3
holding NSA Class A OP Units Aug 15, 2024 Common shares of beneficial interest, $0.01 par value 122K See Note F1, F2, F3, F4
holding NSA Series A-1 Preferred Units Aug 15, 2024 Series A Preferred Shares, $0.01 par value 4.49K Direct F5
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Pursuant to the agreement of limited partnership (the "Partnership Agreement") of NSA OP, LP (the "Partnership"), the Reporting Person has the right to cause the Partnership to redeem all or a portion of the Reporting Person's Class A common units of limited partner interest ("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 National Storage Affiliates Trust (the "Issuer"), or at the Issuer's option, Shares on a one-for-one basis, subject to certain adjustments.
F2 The Class A OP Units in this row 1 of this table are comprised of 442,207 Class A OP Units and 156,300 Class A OP Units issuable upon conversion of 156,300 unvested long term incentive performance units ("LTIP Units"), which vest upon the contribution of certain self-storage properties pursuant to a LTIP Unit Award Agreement, between the Reporting Person and the Partnership. 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.
F3 N/A
F4 The Class A OP Units in row 2 of this table are held by Propel Management, LLC, for which the Reporting Person has or shares voting and/or investment power. 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 held by Propel Management, LLC, and the Reporting Person disclaims beneficial ownership of such securities except to the extent of the Reporting Person's pecuniary interest therein.
F5 Pursuant to the Partnership Unit Designation of Series A-1 Preferred Units of the Partnership, after the first anniversary of the date of issuance, the Reporting Person has the right to cause the Partnership to redeem all or a portion of the Reporting Person's 6.000% Series A-1 Cumulative Redeemable Preferred Units ("Series A-1 Preferred Units") for cash in an amount equal to the market value of an equivalent number of the 6.000% Series A Cumulative Redeemable Preferred Shares of Beneficial Interest ("Series A Preferred Shares") of the Issuer, or at the Issuer's option, Series A Preferred Shares on a one-for-one basis, subject to certain adjustments.

Remarks:

Exhibit No. 24.1 Power of Attorney dated July 29, 2024.