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SmartStop Self Storage REIT, Inc.·4

Mar 27, 4:56 PM ET

Terjung Michael O 4

4 · SmartStop Self Storage REIT, Inc. · Filed Mar 27, 2026

Research Summary

AI-generated summary of this filing

Updated

SmartStop (SMA) CAO Michael Terjung Receives LTIP Award

What Happened Michael O. Terjung, Chief Accounting Officer of SmartStop Self Storage REIT, Inc. (SMA), received two long‑term incentive plan unit (LTIP Unit) awards on March 25, 2026 totaling 11,062 LTIP Units (4,262 + 6,800). Both grants were awarded at $0.00 (derivative awards), so no cash was exchanged at grant. LTIP Units are convertible into common units of the operating partnership, which are redeemable by the holder for shares of the issuer’s common stock on a one‑for‑one basis or for cash at the issuer’s election.

Key Details

  • Transaction date: 2026-03-25; Filing date (Form 4): 2026-03-27 (filed two days after the transactions).
  • Transaction type/code: A (Grant/Award); reported price: $0.00; reported value: $0.00.
  • Award breakdown and vesting:
    • 4,262 LTIP Units: vest ratably over four years commencing December 31 of the grant year (footnote F3).
    • 6,800 LTIP Units: performance‑based award (reported as 200% of target); actual payout can range based on performance and, if achieved, will vest no later than January 31, 2029 (footnote F4).
  • Shares/units previously reported: filing notes prior holdings including 30,941.50 Class A‑1 Units (footnote F7) and references to previously reported LTIP holdings; the filing does not state a single consolidated "shares owned after transaction" total in the provided excerpts.
  • Other footnotes: a fractional share adjustment (–0.42 shares) from a July 30, 2025 redemption is noted (footnote F1).
  • Timeliness: filing appears timely (reported two days after the transaction).

Context

  • These are derivative incentive awards rather than open‑market purchases or sales; they are primarily retention and performance compensation and do not represent an immediate cash buy or sale of stock.
  • The 6,800‑unit grant is contingent on performance metrics and may result in fewer units vesting (0%–100% of the reported amount) depending on results — meaning future value is uncertain until performance is measured.
  • For retail investors: awards like this are common for executives and often reflect standard compensation/retention practices; they do not necessarily indicate the insider is buying or selling shares based on near‑term sentiment.

Insider Transaction Report

Form 4
Period: 2026-03-25
SmartStop Self Storage REIT, Inc.SMA
Terjung Michael O
Chief Accounting Officer
Transactions
  • Award

    Long-Term Incentive Plan Units

    [F2][F3]
    2026-03-25+4,262→ 19,779.22 total
    Exercise: $0.00→ Common Stock (4,262 underlying)
  • Award

    Long-Term Incentive Plan Units

    [F2][F4]
    2026-03-25+6,800→ 18,843.86 total
    Exercise: $0.00→ Common Stock (6,800 underlying)
Holdings

  • Common Stock

    [F1]
    8,142

  • Long-Term Incentive Plan Units

    [F2][F5]
    Exercise: $0.00→ Common Stock (29,319 underlying)
    29,319

  • Class A-1 Units

    [F6][F7]
    Exercise: $0.00→ Common Stock (30,941.5 underlying)
    30,941.5
Footnotes (7)
  • [F1]Includes shares of Common Stock previously reported as being owned by the Reporting Person, less .42 shares of Common Stock that were redeemed by the Issuer in connection with a fractional share redemption conducted by the Issuer with respect to its outstanding Common Stock as of July 30, 2025.
  • [F2]Represents long-term incentive plan units ("LTIP Units") of SmartStop OP, L.P., the Issuer's operating partnership (the "Operating Partnership"). Vested LTIP Units are convertible into common units of the Operating Partnership ("Common Units"). Common Units are redeemable by the holder for, at the election of the Issuer, shares of the Issuer's Common Stock on a one-for-one basis or the cash value of such shares.
  • [F3]Represents 4,262 LTIP Units issued to the Reporting Person pursuant to the Issuer's incentive plan, which LTIP Units vest ratably over four years commencing on December 31 of the year of grant, subject to the Reporting Person's continued employment or service through each vesting date.
  • [F4]Represents 6,800 LTIP Units issued to the Reporting Person pursuant to the Issuer's incentive plan, which number is equal to 200% of the target number of LTIP Units to be issued upon vesting. The actual number of LTIP Units to be issued upon vesting can range from 0% to 100% of the number of LTIP Units reported, based on the based on achievement of specified performance measures. Assuming the achievement of the specified performance measures, the LTIP Units, as adjusted, will vest no later than January 31, 2029.
  • [F5]Represents LTIP Units previously reported as being owned by the Reporting Person. The LTIP Units vest ratably over four years commencing on the first anniversary of the issuance thereof, subject to the Reporting Person's continued employment or service through each vesting date.
  • [F6]Represents Class A-1 limited partnership units ("Class A-1 Units") of the Operating Partnership. Class A-1 Units are redeemable by the holder for, at the election of the Issuer, shares of Common Stock of the Issuer on a one-for-one basis or the cash value of such shares.
  • [F7]Represents 30,941.50 Class A-1 Units previously reported as being owned by the Reporting Person.
Signature
/s/Michael O Terjung|2026-03-27

Documents

1 file
  • 4
    primary_doc.xmlPrimary

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