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  4. [Form 4] SmartStop Self Storage REIT, Inc. Insider Trading Activity

SmartStop (SMA) director sells 425 shares in Rule 10b5-1 trade

Filing Impact
(Neutral)
Filing Sentiment
(Negative)
Form Type
4

Rhea-AI Filing Summary

SmartStop Self Storage REIT, Inc. director David J. Mueller reported an open-market sale of 425 shares of Common Stock at $29.67 per share. After this trade, he directly holds 5,915 Common shares. He also holds Long-Term Incentive Plan Units tied to 9,598 and 7,234.25 underlying Common shares, which vest over time. The sale was executed under a pre-arranged Rule 10b5-1 trading plan adopted on December 15, 2025.

Positive

  • None.

Negative

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Insider Mueller David J
Role null
Sold 425 shs ($13K)
Type Security Shares Price Value
Sale Common Stock 425 $29.67 $13K
holding Long-Term Incentive Plan Units -- -- --
holding Long-Term Incentive Plan Units -- -- --
Holdings After Transaction: Common Stock — 5,915 shares (Direct, null); Long-Term Incentive Plan Units — 7,234.25 shares (Direct, null)
Footnotes (1)
  1. The sales reported in this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on December 15, 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 7,234.25 LTIP Units previously reported as being owned by the Reporting Person. The LTIP Units were issued to the Reporting Person in connection with his reelection to the board of directors and vest one year from each such reelection. Represents 9,598 LTIP Units previously reported as being owned by the Reporting Person, which 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.
Shares sold 425 shares Open-market sale of Common Stock
Sale price $29.67 per share Price for 425-share sale on Common Stock
Shares held after sale 5,915 shares Direct Common Stock holdings post-transaction
Underlying shares from LTIP Units grant 1 9,598 shares LTIP Units vesting over four years
Underlying shares from LTIP Units grant 2 7,234.25 shares LTIP Units tied to board reelection vesting
Rule 10b5-1 plan adoption date December 15, 2025 Pre-arranged trading plan for reported sale
Rule 10b5-1 trading plan regulatory
"The sales reported in this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on December 15, 2025."
A Rule 10b5-1 trading plan is a pre-arranged schedule that allows company insiders to buy or sell stock at specific times, even if they have inside information. It helps prevent accusations of unfair trading by making these transactions look planned and transparent, rather than sneaky or illegal.
Long-Term Incentive Plan Units financial
"Represents long-term incentive plan units ("LTIP Units") of SmartStop OP, L.P., the Issuer's operating partnership."
LTIP Units financial
"Represents 7,234.25 LTIP Units previously reported as being owned by the Reporting Person."
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.
Common Units financial
"Vested LTIP Units are convertible into common units of the Operating Partnership ("Common Units")."
Common units are the basic ownership stakes in a company, limited partnership, or trust that function like common stock: they give holders a claim on profits and often voting rights. Think of them as the ordinary seats at a table—the most directly affected by the business’s success or failure, so they typically offer higher upside but carry greater risk than preferred claims or creditors, which matters to investors evaluating potential return and safety.
redeemable financial
"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."
Form 4 Insider Transactions: What Each Field Means →
SEC Form 4
FORM 4UNITED 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).
X
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*
Mueller David J
(Last)(First)(Middle)
10 TERRACE ROAD
(Street)
LADERA RANCH CALIFORNIA 92694
(City)(State)(Zip)
UNITED STATES
(Country)		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)
XDirector10% Owner
Officer (give title below)Other (specify below)
2a. Foreign Trading Symbol
3. Date of Earliest Transaction (Month/Day/Year)
05/18/2026		6. Individual or Joint/Group Filing (Check Applicable Line)
XForm 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)
CodeVAmount(A) or (D)Price
Common Stock05/18/2026S(1)425D$29.675,915D
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)
CodeV(A)(D)Date ExercisableExpiration DateTitleAmount or Number of Shares
Long-Term Incentive Plan Units(2)$0(2) (3) (3)Common Stock7,234.257,234.25(3)D
Long-Term Incentive Plan Units(2)$0(2) (4) (4)Common Stock9,5989,598(4)D
Explanation of Responses:
1. The sales reported in this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on December 15, 2025.
2. 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.
3. Represents 7,234.25 LTIP Units previously reported as being owned by the Reporting Person. The LTIP Units were issued to the Reporting Person in connection with his reelection to the board of directors and vest one year from each such reelection.
4. Represents 9,598 LTIP Units previously reported as being owned by the Reporting Person, which 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.
/s/ David J. Mueller05/19/2026
** Signature of Reporting PersonDate
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)

Source: View Original Filing on SEC EDGAR

FAQ

What insider transaction did SmartStop Self Storage REIT (SMA) report for David J. Mueller?

SmartStop director David J. Mueller reported selling 425 shares of Common Stock at $29.67 per share. The transaction was an open-market sale and was executed under a pre-arranged Rule 10b5-1 trading plan adopted in December 2025.

How many SmartStop (SMA) shares does David J. Mueller hold after this Form 4 sale?

After selling 425 shares, David J. Mueller directly holds 5,915 shares of SmartStop Common Stock. This post-transaction balance reflects his remaining direct equity position as disclosed in the Form 4 insider trading report.

Were David J. Mueller’s SmartStop (SMA) share sales under a Rule 10b5-1 trading plan?

Yes. The Form 4 states the sales were effected under a Rule 10b5-1 trading plan adopted on December 15, 2025. Such plans pre-schedule trades, reducing the significance of short-term market timing decisions for these transactions.

What Long-Term Incentive Plan Units does David J. Mueller hold at SmartStop (SMA)?

Mueller holds Long-Term Incentive Plan Units linked to 9,598 and 7,234.25 underlying Common shares. These LTIP Units vest over time and can convert into Operating Partnership units, which are redeemable for SmartStop Common Stock or cash on a one-for-one basis.

How do SmartStop (SMA) LTIP Units held by David J. Mueller convert into Common Stock?

The LTIP Units are convertible into common units of the operating partnership. Those common units are redeemable, at SmartStop’s election, for either shares of its Common Stock on a one-for-one basis or the cash value of those shares, once vested and eligible.

What vesting terms apply to David J. Mueller’s SmartStop (SMA) LTIP Units?

One LTIP grant of 7,234.25 units was issued in connection with his board reelection and vests one year from each such reelection. Another grant of 9,598 LTIP Units vests ratably over four years starting on the first anniversary of issuance, subject to continued service.