Johnson Wayne 4

What Happened

• Wayne Johnson, Chief Investment Officer and a director of SmartStop Self Storage REIT, Inc. (SMA), was granted two long-term incentive plan (LTIP) awards on March 25, 2026: 5,967 LTIP Units and 9,519 LTIP Units. Both awards are reported as derivative acquisitions at $0.00 per unit (no cash paid).
• The 5,967 LTIP Units vest ratably over four years beginning December 31 of the grant year (subject to continued service). The 9,519 LTIP Units represent 200% of the target award and are performance-based (actual payout ranges 0%–100% depending on performance); if earned, they will vest no later than January 31, 2029.
• These LTIP Units are convertible into common units of the operating partnership and those common units are redeemable, at the issuer’s election, for one-for-one shares of SmartStop common stock or the cash equivalent.

Key Details

• Transaction date: March 25, 2026. Filing date: March 27, 2026 (Form 4 accession 0001461590-26-000001).
• Transaction type/code: A — Grant/Award (derivative awards) reported at $0.00 per unit.
• Units granted: 5,967 LTIP Units (time-vested) + 9,519 LTIP Units (performance-based; 200% of target).
• Vesting: 5,967 units vest ratably over 4 years starting Dec 31 of grant year; 9,519 units contingent on performance, vesting by Jan 31, 2029 if performance achieved.
• Conversion/settlement: LTIP Units convert to operating partnership common units; those common units may be redeemed for issuer common stock on a one-for-one basis or for cash (issuer’s election).
• Holdings after transaction: filing notes previously reported holdings (e.g., 123,765.75 Class A-1 units previously reported). The filing excerpt does not state an explicit total number of common shares owned after these grants.
• Timeliness: Filed two days after the transaction date (appears timely under Form 4 rules).

Context

• These are equity awards (derivative LTIP Units), not open-market purchases or sales. Awards are typical executive compensation and vest over time or upon performance; they do not by themselves indicate an immediate buy/sell signal.
• For retail investors, time-vested awards mainly indicate long-term retention incentives; performance-based components depend on future metrics and may not result in any shares if targets aren’t met.