SEC Form 4 · accession 0001104659-26-085916

National Storage Affiliates Trust · NSA

Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗

Reporting owner

Dominic M Palazzo

Director

Period of report

Jul 22, 2026

Accepted (ET)

Jul 22, 2026 · 5:24 pm EDT

Rule 10b5-1 plan

box not checked

Issuer CIK

0001618563

Table I — non-derivative securities

Security	Date	Code	Shares	Price	A/D	Owned after	D/I	Nature of ownership
Common shares of beneficial interest, $0.01 par value^F1,F2	Jul 22, 2026	D	5,056	—	D	0	I	See footnote

Table II — derivative securities

Security	Conv. / exercise price	Date	Code	Shares	A/D	Exercisable	Expires	Underlying	Underlying shares	Owned after	D/I
Class A OP Units^F3,F2,F4	—	Jul 22, 2026	D	56,909	D	—	—	Common shares of beneficial interest, $0.01 par value	56,909	0	I

Explanation of responses

F1Pursuant to the Agreement and Plan of Merger, dated as of March 16, 2026 (the "Merger Agreement"), between the Issuer, Public Storage and certain other parties, common shares of beneficial interest, $0.01 par value of the Issuer, inclusive of restricted shares, were converted into the right to receive 0.1400 (the "Exchange Ratio") newly issued common shares of beneficial interest, par value $0.10 per share, of Public Storage and cash in lieu of any fractional shares.
F2Held by Dominic Mario Palazzo TTEE Dominic Mario Palazzo Trust UTAD 02/10/2000 for which the Reporting Person has or shares voting and/or investment power. 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.
F3Pursuant to the Merger Agreement, each Class A OP Unit issued and outstanding immediately prior to the effective time of the Partnership Merger was (i) automatically converted into the right to receive a number of newly issued common units in Public Storage OP, L.P., equal to the Exchange Ratio or (ii), at the election of holders of Class A OP Units, redeemed in exchange for one newly issued unit in NSA OP JV, LLC which holds 80% of the equity of the joint venture with Public Storage that holds certain identified real estate assets contributed by the Partnership.
F4N/A.