0001628280-23-021301.txt : 20230607
0001628280-23-021301.hdr.sgml : 20230607
20230607163806
ACCESSION NUMBER: 0001628280-23-021301
CONFORMED SUBMISSION TYPE: 4
PUBLIC DOCUMENT COUNT: 1
CONFORMED PERIOD OF REPORT: 20230605
FILED AS OF DATE: 20230607
DATE AS OF CHANGE: 20230607
REPORTING-OWNER:
OWNER DATA:
COMPANY CONFORMED NAME: Cowan William S. Jr.
CENTRAL INDEX KEY: 0001979659
FILING VALUES:
FORM TYPE: 4
SEC ACT: 1934 Act
SEC FILE NUMBER: 001-37351
FILM NUMBER: 23999487
MAIL ADDRESS:
STREET 1: 8400 EAST PRENTICE AVENUE, 9TH FLOOR
CITY: GREENWOOD VILLAGE
STATE: CO
ZIP: 80111
ISSUER:
COMPANY DATA:
COMPANY CONFORMED NAME: National Storage Affiliates Trust
CENTRAL INDEX KEY: 0001618563
STANDARD INDUSTRIAL CLASSIFICATION: REAL ESTATE INVESTMENT TRUSTS [6798]
IRS NUMBER: 465053858
STATE OF INCORPORATION: MD
FISCAL YEAR END: 1231
BUSINESS ADDRESS:
STREET 1: 8400 E. PRENTICE AVENUE
STREET 2: 9TH FLOOR
CITY: GREENWOOD VILLAGE
STATE: CO
ZIP: 80111
BUSINESS PHONE: 720-630-2600
MAIL ADDRESS:
STREET 1: 8400 E. PRENTICE AVENUE
STREET 2: 9TH FLOOR
CITY: GREENWOOD VILLAGE
STATE: CO
ZIP: 80111
4
1
wk-form4_1686170276.xml
FORM 4
X0407
4
2023-06-05
0
0001618563
National Storage Affiliates Trust
NSA
0001979659
Cowan William S. Jr.
8400 EAST PRENTICE AVENUE 9TH FLOOR
GREENWOOD VILLAGE
CO
80111
0
1
0
0
Chief Strategy Officer
0
Class A OP Units
2023-06-05
4
A
0
66836
0
A
Common shares of beneficial interest, $0.01 par value
66836
66836
D
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.
The Class A OP Units in this table are comprised of 66,836 Class A OP Units issuable upon the conversion of 66,836 unvested long-term incentive plan units ("LTIP Units") in the Partnership which were granted to the Reporting Person pursuant to a 2023 LTIP Unit Award Agreement between the Issuer and the Reporting Person under the Issuer's 2015 Equity Incentive Plan. Of these, 38,241 vest in four annual installments on June 10, 2024, June 10, 2025, June 10, 2026 and June 10, 2027, subject to continued employment by the Reporting Person, and 28,595 represent the maximum amount of LTIP Units that can vest on January 1, 2026 contingent upon the achievement of certain performance criteria.
The Reporting Person will not earn any of the 28,595 performance-based LTIP Units if the minimum performance criteria is not met. The 28,595 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's agreement of limited partnership.
N/A
The Reporting Person's total direct beneficial ownership of Class A OP Units following the reported transactions above is 66,836 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).
William S. Cowan, Jr., by Jason Parsont, his Attorney-in-fact
2023-06-07