SEC Form 4 · accession 0001618563-16-000050
National Storage Affiliates Trust · NSA
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Arlen Dale Nordhagen
Officer — Chief Executive Officer · Director · 10% Owner
Period of report
Mar 1, 2016
Accepted (ET)
Mar 3, 2016 · 4:11 pm EST
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001618563
Table I — non-derivative securities
No Table I lines on this filing.
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 UnitsF1,F2,F4,F3 | — | Mar 1, 2016 | A | 91,737 | A | — | — | Common shares of beneficial interest, $0.01 par value | 91,737 | 3,690,419 | D |
Explanation of responses
- F1One year after the date of the completion of the initial public offering of National Storage Affiliates Trust (the "Issuer"), the Reporting Person will have the right to cause NSA OP, LP (the "Partnership") to redeem a portion of the Reporting Person's Class A common units of limited partner interest in the Partnership ("Class A OP Units") for cash in an amount equal to the market value of an equivalent number of the Issuer's common shares of beneficial interest ("Shares"), or at the Issuer's option, Shares on a one-for-one basis, subject to certain adjustments.
- F2The 91,737 Class A OP Units are issuable upon the conversion of 91,737 unvested long-term incentive plan units in the Partnership ("LTIP units"). The unvested LTIP units were granted to the Reporting Person under the Issuer's 2015 Equity Incentive Plan, and vest in annual installments along a schedule at certain times prior to and including January 1, 2019. 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.
- F3N/A
- F4The Reporting Person's total direct and indirect beneficial ownership following the reported transaction above is 3,690,419 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). The 3,690,419 Class A OP Units do not include derivative securities of other classes or non-derivative securities of the Reporting Person that were previously reported.