| 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 | $118K | +2.75K | +0.38% | $42.74 | 723K | Aug 15, 2024 | Common shares of beneficial interest, $0.01 par value | 2.75K | Direct | F1, F2, F3, F4, F5, F6 |
| Id | Content |
|---|---|
| F1 | The 2,750 Class A common units of limited partner interest ("Class A OP Units") in NSA OP, LP (the "Partnership") are issuable upon the conversion of 2,750 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 1,170 LTIP Units are scheduled to vest on August 15, 2026, subject to the Reporting Person remaining a trustee at that time and 1,580 LTIP Units are scheduled to vest on the earlier of: (a) May 16, 2025 or (b) the calendar day immediately preceding the Issuer's next annual meeting of shareholders, the date of which will be specified in a future proxy statement of the Issuer. 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 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 August 15, 2024. |
| F5 | The Reporting Person's total direct and indirect beneficial ownership following the reported transactions above is 722,811 Class A OP Units which includes those Class A OP Units previously reported on Form 3 (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 159,050 unvested LTIP Units. |
| 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. |