SmartStop Self Storage (SMA) awards CAO new LTIP and Class A-1 units
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
SmartStop Self Storage REIT’s Chief Accounting Officer Michael O. Terjung received new equity awards tied to the company’s common stock. On March 25, 2026, he was granted 4,262 Long-Term Incentive Plan (LTIP) Units and a separate performance-based grant of 6,800 LTIP Units, both at an exercise price of $0.0000 per unit.
The 4,262 LTIP Units vest ratably over four years starting on December 31 of the grant year, subject to continued employment. The 6,800 LTIP Units represent 200% of a target amount and will vest based on achievement of specified performance measures, with vesting no later than January 31, 2029 if those measures are met. After these awards, Terjung also holds LTIP Units convertible into 29,319 underlying common shares, 30,941.50 Class A-1 Units, and 8,142 common shares, all held directly.
Positive
- None.
Negative
- None.
Insider Trade Summary
5 transactions reported
Mixed
5 txns
Insider
Terjung Michael O
Role
Chief Accounting Officer
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Long-Term Incentive Plan Units | 4,262 | $0.00 | -- |
| Grant/Award | Long-Term Incentive Plan Units | 6,800 | $0.00 | -- |
| holding | Long-Term Incentive Plan Units | -- | -- | -- |
| holding | Class A-1 Units | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
Holdings After Transaction:
Long-Term Incentive Plan Units — 19,779.22 shares (Direct);
Class A-1 Units — 30,941.5 shares (Direct);
Common Stock — 8,142 shares (Direct)
Footnotes (1)
- Includes shares of Common Stock previously reported as being owned by the Reporting Person, less .42 shares of Common Stock that were redeemed by the Issuer in connection with a fractional share redemption conducted by the Issuer with respect to its outstanding Common Stock as of July 30, 2025. Represents long-term incentive plan units ("LTIP Units") of SmartStop OP, L.P., the Issuer's operating partnership (the "Operating Partnership"). Vested LTIP Units are convertible into common units of the Operating Partnership ("Common Units"). Common Units are redeemable by the holder for, at the election of the Issuer, shares of the Issuer's Common Stock on a one-for-one basis or the cash value of such shares. Represents 4,262 LTIP Units issued to the Reporting Person pursuant to the Issuer's incentive plan, which LTIP Units vest ratably over four years commencing on December 31 of the year of grant, subject to the Reporting Person's continued employment or service through each vesting date. Represents 6,800 LTIP Units issued to the Reporting Person pursuant to the Issuer's incentive plan, which number is equal to 200% of the target number of LTIP Units to be issued upon vesting. The actual number of LTIP Units to be issued upon vesting can range from 0% to 100% of the number of LTIP Units reported, based on the based on achievement of specified performance measures. Assuming the achievement of the specified performance measures, the LTIP Units, as adjusted, will vest no later than January 31, 2029. Represents LTIP Units previously reported as being owned by the Reporting Person. The LTIP Units vest ratably over four years commencing on the first anniversary of the issuance thereof, subject to the Reporting Person's continued employment or service through each vesting date. Represents Class A-1 limited partnership units ("Class A-1 Units") of the Operating Partnership. Class A-1 Units are redeemable by the holder for, at the election of the Issuer, shares of Common Stock of the Issuer on a one-for-one basis or the cash value of such shares. Represents 30,941.50 Class A-1 Units previously reported as being owned by the Reporting Person.
FAQ
What insider transaction did SmartStop Self Storage (SMA) report for Michael O. Terjung?
Michael O. Terjung received new equity awards, not market trades. He was granted 4,262 Long-Term Incentive Plan Units and a separate 6,800-unit performance-based LTIP award on March 25, 2026, all with a zero exercise price under the company’s incentive plan.
How many Long-Term Incentive Plan Units did SMA’s CAO receive in this Form 4?
The CAO received two LTIP grants totaling 11,062 units. One grant covers 4,262 LTIP Units vesting over four years, and another covers 6,800 performance-based LTIP Units, with the actual vested amount depending on achievement of specified performance measures by January 31, 2029.
What are the vesting terms of the 4,262 LTIP Units granted to SMA’s CAO?
The 4,262 LTIP Units vest over time, not immediately. They vest ratably over four years, starting on December 31 of the grant year, and require Michael O. Terjung to remain employed or in service with SmartStop Self Storage through each vesting date.
How does the 6,800-unit performance LTIP award for SMA’s CAO work?
The 6,800 LTIP Units are a performance-based award. This amount equals 200% of a target grant, and the actual units issued upon vesting can range from 0% to 100% of 6,800, depending on achieving specified performance goals, with vesting no later than January 31, 2029.
What ongoing equity interests in SmartStop Self Storage (SMA) does the CAO hold after this filing?
The CAO holds multiple equity-linked interests. He owns LTIP Units convertible into 29,319 underlying common shares, 30,941.50 Class A-1 Units redeemable one-for-one into common stock or cash, and 8,142 shares of common stock, all reported as directly held positions.
Do the LTIP Units and Class A-1 Units reported by SMA convert into common stock?
Yes, both LTIP Units and Class A-1 Units are linked to common stock. Vested LTIP Units convert into common units, which are redeemable for common shares or their cash value, and Class A-1 Units are similarly redeemable one-for-one for SmartStop common stock or cash, at the issuer’s election.
SmartStop Self Storage REIT, Inc.