4//SEC Filing
Cowan William S. Jr. 4
Accession 0001628280-25-010066
CIK 0001618563other
Filed
Mar 3, 7:00 PM ET
Accepted
Mar 4, 6:11 PM ET
Size
8.5 KB
Accession
0001628280-25-010066
Insider Transaction Report
Form 4
Cowan William S. Jr.
Chief Strategy Officer
Transactions
- Award
Class A OP Units
2025-02-28+43,216→ 170,322 total→ Common shares of beneficial interest, $0.01 par value (43,216 underlying)
Footnotes (6)
- [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 table are comprised of 43,216 Class A OP Units issuable upon the conversion of 43,216 unvested long-term incentive plan units ("LTIP Units") in the Partnership which were granted to the Reporting Person pursuant to a 2025 LTIP Unit Award Agreement between the Issuer and the Reporting Person under the Issuer's 2024 Equity Incentive Plan. Of these, 12,129 vest in three annual installments on January 1, 2026, January 1, 2027, and January 1, 2028, subject to continued employment by the Reporting Person and 31,087 represent the maximum amount of LTIP Units that can vest on January 1, 2028 contingent upon the achievement of certain performance criteria.
- [F3]The Reporting Person will not earn any of the 31,087 performance-based LTIP Units if the minimum performance criteria is not met. The 31,087 performance-based LTIP Units are being reported here for informational purposes only. 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 Agreement.
- [F4]N/A
- [F5]The Reporting Person's total direct beneficial ownership of Class A OP Units following the reported transactions above is 170,322 Class A OP Units, which includes those Class A OP Units previously reported and the Class A OP Units reported herein (together with those securities convertible into, or exchangeable for, such Class A OP Units as specified herein and therein).
- [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.
Documents
Issuer
National Storage Affiliates Trust
CIK 0001618563
Entity typeother
Related Parties
1- filerCIK 0001979659
Filing Metadata
- Form type
- 4
- Filed
- Mar 3, 7:00 PM ET
- Accepted
- Mar 4, 6:11 PM ET
- Size
- 8.5 KB