SMA CEO Schwartz adds 6,250 SmartStop shares, details Form 4

Rhea-AI Filing Summary

SmartStop Self Storage REIT, Inc. reported that its Chief Executive Officer and director, H. Michael Schwartz, acquired 6,250 shares of common stock on November 17, 2025 at a price of $31.71 per share in an open-market purchase. Following this transaction, he beneficially owns 24,250 shares of common stock indirectly through Churchill TRI LLC, 120,805 shares indirectly through SmartStop OP Holdings, LLC, and 29,315 shares indirectly through the Schwartz Family Trust. He also holds derivative interests in the operating partnership, including 96,543.26 Common Units, 233,791.29 time-vesting LTIP Units, 192,600.19 performance-based LTIP Units, and 2,397,695.44 Class A-1 Units, all of which are ultimately tied to the company’s common stock on a one-for-one or equivalent basis as described.

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^*

Schwartz H. Michael

(Last) (First) (Middle)

10 TERRACE ROAD

(Street)

LADERA RANCH CA 92694

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
SmartStop Self Storage REIT, Inc. [ SMA ]

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

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

3. Date of Earliest Transaction (Month/Day/Year)
11/17/2025

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

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

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

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
Common Stock	11/17/2025		P		6,250	A	$31.71	24,250(1)	I	See Footnote 1.
Common Stock								120,805(2)	I	See Footnote 2.
Common Stock								29,315(3)	I	Through Schwartz Family Trust dated September 22, 2003

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
Common Units(4)	$0(4)							(4)	(4)	Common Stock	29.11		29.11	I	Through Schwartz Family Trust dated September 22, 2003
Common Units(4)	$0(4)							(4)	(4)	Common Stock	96,543.26		96,543.26(5)	I	See Footnote 5.
Long-Term Incentive Plan Units(6)	$0(6)							(7)	(7)	Common Stock	233,791.29		233,791.29(7)	I	Through Schwartz Family Trust dated September 22, 2003
Long-Term Incentive Plan Units(6)	$0(6)							(8)	(8)	Common Stock	192,600.19		192,600.19(8)	I	Through Schwartz Family Trust dated September 22, 2003
Class A-1 Units(9)	$0(9)							(9)	(9)	Common Stock	2,397,695.44		2,397,695.44(10)	I	See Footnote 10.

Explanation of Responses:

1. Represents 24,250 shares of common stock indirectly owned by the Reporting Person through Churchill TRI LLC, a Nevada limited liability company, which is 50% owned by The H. Michael Schwartz 2011 Irrevocable Trust and 50% owned by The Holly Breaux Schwartz 2011 Irrevocable Trust.

2. Represents 120,805 shares of Common Stock owned by SmartStop OP Holdings, LLC ("SOH") previously reported as being owned by the Reporting Person, which amount accounts for the redemption of .97 shares of Common Stock previously reported as being owned by the Reporting Person 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. SOH is indirectly owned and controlled by the Reporting Person.

3. Represents 29,315 shares of Common Stock previously reported as being owned by the Reporting Person, which amount accounts for the redemption of .15 shares of Common Stock previously reported as being owned by the Reporting Person 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.

4. Represents common units ("Common Units") of SmartStop OP, L.P., the Issuer's operating partnership (the "Operating Partnership"). Common 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.

5. Represents 96,543.26 Common Units owned by SOH previously reported as being owned by the Reporting Person.

6. Represents long-term incentive plan units ("LTIP Units") of the Operating Partnership. Vested LTIP Units are convertible into Common Units.

7. Represents 233,791.29 LTIP Units previously reported as being owned by the Reporting Person. The LTIP Units vest ratably over a four-year period commencing on December 31 of the year of grant, subject to the Reporting Person's continued employment or service through each vesting date.

8. Represents 192,600.19 LTIP Units previously reported as being owned by the Reporting Person, 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 achievement of specified performance measures.

9. 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.

10. Represents 2,397,695.44 Class A-1 Units owned by SOH previously reported as being owned by the Reporting Person.

	/s/ H. Michael Schwartz	11/18/2025
	** 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).
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FAQ

What insider transaction did SmartStop Self Storage REIT (SMA) disclose?

SmartStop Self Storage REIT, Inc. disclosed that its Chief Executive Officer and director, H. Michael Schwartz, bought 6,250 shares of common stock on November 17, 2025 at $31.71 per share.

How many SmartStop Self Storage REIT (SMA) common shares does H. Michael Schwartz now beneficially own?

After the reported trade, H. Michael Schwartz beneficially owns 24,250 shares indirectly through Churchill TRI LLC, 120,805 shares indirectly through SmartStop OP Holdings, LLC, and 29,315 shares indirectly through the Schwartz Family Trust.

What derivative interests tied to SmartStop Self Storage REIT (SMA) stock does H. Michael Schwartz hold?

He holds 96,543.26 Common Units, 233,791.29 long-term incentive plan (LTIP) units that vest ratably over four years, 192,600.19 performance-based LTIP units, and 2,397,695.44 Class A-1 Units, each ultimately linked to SmartStop common stock as described.

How are SmartStop OP Common Units and Class A-1 Units related to SmartStop Self Storage REIT (SMA) common stock?

The Common Units and Class A-1 Units of SmartStop OP, L.P. are redeemable at the issuer’s election for either shares of SmartStop common stock on a one-for-one basis or the cash value of those shares.

How do the LTIP Units held by H. Michael Schwartz in SMA vest and convert?

The LTIP Units are long-term incentive plan units of the operating partnership. Certain LTIP Units vest ratably over a four-year period commencing on December 31 of the year of grant, and vested LTIP Units are convertible into Common Units. Some LTIP Units are performance-based, with the actual number issued upon vesting ranging from 0% to 100% of the reported amount based on specified performance measures.

Through which entities does H. Michael Schwartz hold his indirect SmartStop (SMA) ownership?

He holds indirect interests through Churchill TRI LLC, SmartStop OP Holdings, LLC (which he indirectly owns and controls), and the Schwartz Family Trust, as well as through entities that own Common Units, LTIP Units, and Class A-1 Units of the operating partnership.