NSA CEO converts 30,555 LTIP units
National Storage Affiliates Trust President and CEO David Cramer reported a non-cash conversion of equity-based awards.
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Form Type
4
Rhea-AI Filing Summary
National Storage Affiliates Trust President and CEO David Cramer reported a non-cash conversion of equity-based awards. He converted 30,555 LTIP Units into 30,555 Class A OP Units and also reported a related conversion of 30,555 Class A OP Units into an equivalent number of common shares of beneficial interest.
Following these transactions, he directly and indirectly holds 587,104 Class A OP Units and has 258,001 unvested LTIP Units. The filing notes it is being made on a voluntary basis to provide notice of the LTIP Unit conversion and includes a standard disclaimer of beneficial ownership beyond Cramer’s pecuniary interest.
Insider Trade Summary
61,110 shares exercised/converted
Exercise
2 txns
Insider
Cramer David
Role
President and CEO
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Conversion | LTIP Units | 30,555 | $0.00 | $0.00 |
| Conversion | Class A OP Units | 30,555 | $0.00 | $0.00 |
Holdings After Transaction:
LTIP Units — 258,001 contracts (Direct);
Class A OP Units — 587,104 contracts (Direct)
Footnotes (7)
- F1. 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.
- F2. Pursuant to the Partnership Agreement, upon the achievement of certain conditions, a holder of long-term incentive plan units ("LTIP Units") of the Partnership is entitled to convert such LTIP Units into Class A OP Units of the Partnership on a one-for-one basis.
- F3. Consists of 30,555 LTIP Units held by the Reporting Person which were converted into 30,555 Class A OP Units.
- F4. N/A
- F5. The Reporting Person's total direct and indirect beneficial ownership of Class A OP Units following the reported transactions above is 587,104 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 therein).
- F6. 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.
- F7. Following the reported transactions, the Reporting Person has total direct beneficial ownership in 0 vested LTIP Units and 258,001 unvested LTIP Units. The Reporting Person previously reported the 30,555 LTIP Units that were converted into Class A OP Units as described in this Form 4 as Class A OP Units on an as-converted basis. Accordingly, this Form 4 is being filed on a voluntary basis solely to provide notice of the conversion of the Reporting Person's 30,555 LTIP Units into 30,555 Class A OP Units.
Key Figures
LTIP Units converted: 30,555 units
Class A OP Units converted: 30,555 units
Total Class A OP Units held: 587,104 units
+2 more
5 metrics
LTIP Units converted
30,555 units
LTIP Units converted into Class A OP Units
Class A OP Units converted
30,555 units
Class A OP Units converted into common shares
Total Class A OP Units held
587,104 units
Direct and indirect beneficial ownership after transactions
Unvested LTIP Units
258,001 units
Unvested LTIP Units following reported conversions
Derivative exercises
61,110 units
Total derivative exercise shares in this Form 4
Key Terms
LTIP Units, Class A OP Units, beneficial ownership, pecuniary interest
4 terms
LTIP Units financial
"a holder of long-term incentive plan units ("LTIP Units") of the Partnership is entitled to convert"
LTIP units are awards given to executives and employees as part of a long-term incentive plan; they act like deferred bonuses that convert into company shares or cash only if the business meets set performance or time requirements. Investors care because LTIP units tie management pay to future results, can increase the number of outstanding shares (dilution) when they vest, and create ongoing compensation expense that can affect earnings and shareholder value.
Class A OP Units financial
"convert such LTIP Units into Class A OP Units of the Partnership on a one-for-one basis"
beneficial ownership financial
"the Reporting Person is the beneficial owner of any of the securities reported herein"
Beneficial ownership means the person or entity that actually enjoys the benefits of owning shares or other assets — such as receiving dividends, voting rights, or price gains — even if the legal title is held in another name. For investors it matters because knowing who truly controls and profits from a company reveals who can influence decisions, exposes potential conflicts of interest or hidden concentration of power, and affects transparency and risk in the stock.
pecuniary interest financial
"disclaims beneficial ownership of such securities except to the extent of the Reporting Person's pecuniary interest therein"
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What insider transaction did NSA CEO David Cramer report on this Form 4?
David Cramer reported a non-cash conversion of equity awards. He converted 30,555 LTIP Units into 30,555 Class A OP Units and also reported a related conversion of 30,555 Class A OP Units into common shares of beneficial interest.
How many National Storage Affiliates (NSA) units does David Cramer hold after the conversion?
After the reported transactions, David Cramer’s total Class A OP Unit holdings are 587,104 units. He also has 258,001 unvested LTIP Units, providing a clear picture of his ongoing equity-based interest in National Storage Affiliates.
Why did National Storage Affiliates CEO David Cramer file this Form 4 voluntarily?
The filing states it is made on a voluntary basis to provide notice of converting 30,555 LTIP Units into 30,555 Class A OP Units. Those LTIP Units had previously been reported on an as-converted basis, prompting this clarification of the conversion step.
What does the Form 4 say about David Cramer’s beneficial ownership of NSA securities?
The Form 4 includes a beneficial ownership disclaimer. It states that Cramer does not admit to beneficial ownership of all reported securities and disclaims beneficial ownership except to the extent of his pecuniary interest in those securities.
How many derivative exercises did NSA CEO David Cramer report in this filing?
The transaction summary shows two derivative exercises totaling 61,110 units. Each transaction involved 30,555 units, reflecting conversions between LTIP Units, Class A OP Units, and common shares rather than cash purchases or sales.
AI-generated analysis. How Rhea-AI works. Not financial advice.
