CubeSmart HR chief acquires deferred-pay share credits

The phantom shares are payable in cash after Jennifer Schulte ceases employment, and an elected transfer takes effect the following calendar quarter.

Rhea-AI Filing Summary

CubeSmart Chief Human Resources Officer Jennifer Schulte acquired 13.769 phantom shares on October 15, 2026, at $38.5600 per share, bringing her directly held balance to 1,015.5600 phantom shares. The phantom shares arose from reinvested dividend equivalents under CubeSmart’s Trust Executive Deferred Compensation Plan and are payable in cash on a one-for-one basis after she ceases employment. She may transfer them by reallocating her deemed investment option; a transfer takes effect on the first business day of the calendar quarter following her election.

Insider Trade Summary

Grant/Award: 13.769 shares

Grant/Award 1 txn

Insider Schulte Jennifer

Role Chief Human Resources Officer

Type	Security	Shares	Price	Value
Grant/Award	Phantom Shares F1	13.769	$38.56	$530.93

Holdings After Transaction: Phantom Shares — 1,015.56 contracts (Direct)

Footnotes (1)

1. F1. 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.

Key Figures

Phantom shares acquired: 13.769 shares Price per phantom share: $38.5600 per share Direct phantom shares after transaction: 1,015.5600 shares

3 metrics

Phantom shares acquired 13.769 shares October 15, 2026

Price per phantom share $38.5600 per share Acquisition on October 15, 2026

Direct phantom shares after transaction 1,015.5600 shares Following the October 15, 2026 transaction

Key Terms

phantom shares, dividend equivalents, deemed investment option

3 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

"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.

deemed investment option financial

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

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

How many CUBE phantom shares did Jennifer Schulte acquire?

Jennifer Schulte acquired 13.769 phantom shares on October 15, 2026, at $38.5600 per share. Her directly held balance after the acquisition was 1,015.5600 phantom shares.

When are Jennifer Schulte’s CUBE phantom shares payable?

The phantom shares are payable in cash on a one-for-one basis after Jennifer Schulte ceases employment with CubeSmart. She may elect to transfer them at any time by reallocating her deemed investment option to another investment alternative.

When does a transfer of CUBE phantom shares take effect?

A transfer elected by Jennifer Schulte takes effect on the first business day of the calendar quarter following the election.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Available on EDGAR 10/16/2026 - 04:59 PM EDT Accepted by SEC EDGAR 10/16/2026 - 04:59 PM EDT Learn about SEC filing dates

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^*

Schulte Jennifer

(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)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	Chief Human Resources Officer

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
10/15/2026

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)	10/15/2026		A		13.769		(1)	(1)	Common	13.769	$38.56	1,015.56	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	10/16/2026
	** 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)