CubeSmart (NYSE: CUBE) CEO adds 80 phantom shares via dividends

Rhea-AI Filing Summary

CubeSmart CEO and director Christopher P. Marr acquired 80 phantom shares on April 15, 2026 through a grant classified as a derivative award. Each phantom share tracks the value of CubeSmart common stock at a reference price of $38.95 per unit.

These phantom shares were obtained via reinvestment of dividend equivalents under the CubeSmart Trust Executive Deferred Compensation Plan and are payable in cash on a one-for-one basis after he ceases employment with the company. Following this transaction, his phantom share balance under the plan increased to 5,960 units.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider MARR CHRISTOPHER P

Role CEO

Type	Security	Shares	Price	Value
Grant/Award	Phantom Shares	80	$38.95	$3K

Holdings After Transaction: Phantom Shares — 5,960 shares (Direct)

Footnotes (1)

1. [object Object]

Key Figures

Phantom shares granted: 80 phantom shares Reference price per phantom share: $38.95 per unit Total phantom shares after transaction: 5,960 phantom shares +1 more

4 metrics

Phantom shares granted 80 phantom shares Grant/award acquisition on April 15, 2026

Reference price per phantom share $38.95 per unit Transaction price per share for newly acquired phantom shares

Total phantom shares after transaction 5,960 phantom shares Balance following April 15, 2026 award under the plan

Conversion ratio 1:1 cash payout Each phantom share payable in cash on a one-for-one basis

Key Terms

Phantom Shares, dividend equivalents, Executive Deferred Compensation Plan, deemed investment option

4 terms

Phantom Shares financial

"These phantom shares were acquired through reinvestment of dividend equivalents"

Phantom shares are a form of employee or executive compensation that mimics the economic value of owning company stock without actually issuing real shares; holders receive cash or equivalent payments tied to the company’s share price or dividends. Think of it like a receipt that pays out if the stock rises — it aligns managers’ interests with shareholders but does not dilute ownership, while creating a future cash obligation that investors should watch as it can affect company cash flow and valuation.

dividend equivalents financial

"acquired through reinvestment of dividend equivalents under the CubeSmart Trust Executive Deferred Compensation Plan"

Payments tied to employee or contractor equity awards that mirror the cash dividends paid on the company’s stock; they give the holder the same economic benefit as owning the shares without transferring actual shares—often paid in cash or additional award units when the award becomes payable. Investors care because these payments affect a company’s compensation costs, cash flow and potential share dilution, and they signal how management is being rewarded and aligned with shareholders.

Executive Deferred Compensation Plan financial

"under the CubeSmart Trust Executive Deferred Compensation Plan, amended and restated January 1, 2007"

deemed investment option financial

"by reallocating his or her deemed investment option to another investment alternative"

Form 4 Insider Transactions: What Each Field Means →

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

MARR CHRISTOPHER P

(Last) (First) (Middle)

5 OLD LANCASTER ROAD

(Street)

MALVERN PENNSYLVANIA 19355

(City) (State) (Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
CubeSmart [ CUBE ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	CEO

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
04/15/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

4. If Amendment, Date of Original Filed (Month/Day/Year)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Phantom Shares	(1)	04/15/2026		A		80		(1)	(1)	Common	80	$38.95	5,960	D

Explanation of Responses:

1. These phantom shares were acquired through reinvestment of dividend equivalents under the CubeSmart Trust Executive Deferred Compensation Plan, amended and restated January 1, 2007, and are payable in cash on a one-for-one basis after the reporting person ceases employment with the Company. The reporting person may elect to transfer these phantom shares at any time by reallocating his or her deemed investment option to another investment alternative, and such transfer will be effected on the first business day of the calendar quarter following the election.

	Douglas J. Tyrell, Attorney-in-Fact	04/16/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
* Form 4: SEC 1474 (03-26)

FAQ

What insider transaction did CubeSmart (CUBE) report for its CEO?

CubeSmart reported that CEO Christopher P. Marr acquired 80 phantom shares on April 15, 2026. The award came through a derivative grant tied to the company’s stock, increasing his phantom share balance under the executive deferred compensation plan to 5,960 units.

What are the terms of the CubeSmart (CUBE) CEO’s new phantom shares?

The 80 phantom shares granted to CubeSmart’s CEO are valued at $38.95 per unit and mirror the company’s common stock. They are payable in cash on a one-for-one basis after he ceases employment, according to the executive deferred compensation plan.

How did the CubeSmart (CUBE) CEO receive the additional phantom shares?

Christopher P. Marr received the 80 phantom shares through reinvestment of dividend equivalents under CubeSmart’s Trust Executive Deferred Compensation Plan. This mechanism converts dividend amounts into additional phantom share units instead of paying cash dividends directly to the executive.

What is the CEO’s total phantom share balance at CubeSmart (CUBE) after this award?

After the April 15, 2026 transaction, CubeSmart CEO Christopher P. Marr holds 5,960 phantom shares under the executive deferred compensation plan. This total reflects the newly acquired 80 units plus his prior holdings, all payable in cash after his employment ends.

Does the CubeSmart (CUBE) CEO control when phantom shares are reallocated?

Under the plan, the CEO may elect to transfer his phantom shares by reallocating his deemed investment option to another alternative. Any such transfer occurs on the first business day of the calendar quarter following his election, giving him flexibility within the plan’s rules.