National Storage Affiliates (NYSE: NSA) director reports merger conversion
Rhea-AI Filing Summary
A trust associated with National Storage Affiliates Trust director Chad LeRoy Meisinger reported indirect dispositions to the issuer of 118,858 common shares and 56,880 Class A OP Units on July 22, 2026. Under a March 16, 2026 merger agreement with Public Storage, these securities converted into Public Storage equity interests or joint-venture units, and holdings of these NSA securities are now reported as zero.
Positive
- None.
Negative
- None.
Insider Trade Summary
Net Seller: 118,858 shares
Net Sell
2 txns
Insider
Meisinger Chad LeRoy
Role
Director
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Disposition | Class A OP Units F3, F4, F2 | 56,880 | -- | -- |
| Disposition | Common shares of beneficial interest, $0.01 par value F1, F2 | 118,858 | -- | -- |
Holdings After Transaction:
Class A OP Units — 0 shares (Indirect, See footnote);
Common shares of beneficial interest, $0.01 par value — 0 shares (Indirect, See footnote)
Footnotes (4)
- F1. Pursuant 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 ("Shares") 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.
- F2. Held by Chad LeRoy Meisinger and Amy Margaret Meisinger CO TTEES Meisinger Family Trust U/A/D 12/20/2022 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.
- F3. Pursuant 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.
- F4. N/A.
Key Figures
Common shares disposed: 118,858 shares
Class A OP Units disposed: 56,880 units
Exchange Ratio: 0.1400
+2 more
5 metrics
Common shares disposed
118,858 shares
Indirect disposition to issuer on July 22, 2026 in connection with merger
Class A OP Units disposed
56,880 units
Indirect disposition of Class A OP Units to issuer on July 22, 2026 tied to merger
Exchange Ratio
0.1400
Public Storage common shares per NSA share under March 16, 2026 Merger Agreement
Common shares after transaction
0 shares
Indirect holdings of NSA common shares following merger-related disposition
Class A OP Units after transaction
0 units
Indirect holdings of Class A OP Units following merger-related disposition
Key Terms
Agreement and Plan of Merger, Exchange Ratio, Class A OP Unit, common shares of beneficial interest
4 terms
Agreement and Plan of Merger regulatory
"Pursuant to the Agreement and Plan of Merger, dated as of March 16, 2026"
An Agreement and Plan of Merger is a formal document where two companies agree to combine into one, outlining how the process will happen. It’s like a step-by-step plan for merging, and it matters because it shows both sides have agreed on the details before the official transition takes place.
Exchange Ratio financial
"0.1400 (the "Exchange Ratio") newly issued common shares of beneficial interest"
The exchange ratio is the number used to decide how many shares of one company you get for each share you own in another company during a merger or acquisition. It’s like a recipe that tells you how to swap shares fairly, ensuring both companies’ values are balanced. This ratio matters because it determines how ownership divides between the companies' shareholders.
Class A OP Unit financial
"each Class A OP Unit issued and outstanding immediately prior to the effective time"
FAQ
What insider transaction did National Storage Affiliates Trust (NSA) report for Chad LeRoy Meisinger?
A Meisinger family trust indirectly disposed of 118,858 common shares and 56,880 Class A OP Units of National Storage Affiliates Trust on July 22, 2026, as issuer dispositions tied to a merger with Public Storage, leaving zero reported holdings in these NSA securities.
What happened to the Class A OP Units reported for NSA in this Meisinger Form 4?
The trust’s 56,880 Class A OP Units were disposed of to the issuer in connection with the merger. Each unit was either converted into Public Storage OP, L.P. common units equal to the 0.1400 Exchange Ratio or, at holder election, into units of NSA OP JV, LLC.
How are the NSA securities in this filing held for Chad LeRoy Meisinger?
The securities are held by the Meisinger Family Trust, for which Chad and Amy Meisinger act as co-trustees with voting and/or investment power. The reporting person expressly disclaims beneficial ownership except to the extent of his pecuniary interest in these securities.
What is the Merger Agreement referenced in National Storage Affiliates Trust (NSA)'s insider transaction?
It is an Agreement and Plan of Merger dated March 16, 2026 among National Storage Affiliates Trust, Public Storage and other parties. It provides that NSA common shares convert into 0.1400 newly issued Public Storage common shares, plus cash in lieu of fractional shares.
AI-generated analysis. How Rhea-AI works. Not financial advice.
