SmartStop Self Storage (SMA) CEO receives new LTIP and performance units

Rhea-AI Filing Summary

SmartStop Self Storage REIT, Inc. CEO H. Michael Schwartz reported grants of long-term incentive units. On March 25, 2026, a trust associated with him received 64,775 long-term incentive plan (LTIP) Units that vest ratably over four years starting December 31 of the grant year, subject to continued service.

He was also credited with 103,342 performance-based LTIP Units, equal to 200% of the target award, with the actual vesting amount ranging from 0% to 100% based on specified performance goals and scheduled to fully vest no later than January 31, 2029, assuming goal achievement. These LTIP Units represent interests in the operating partnership that can convert into common units and then be redeemed for either one share of common stock or cash per unit, at the company’s election. The filing also lists existing indirect holdings of common stock, common units, and Class A-1 units through family and controlled entities.

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

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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 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)

X	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	CEO and President

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
03/25/2026

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

X	Form 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)
			Code	V	Amount	(A) or (D)	Price
Common Stock								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
Long-Term Incentive Plan Units(4)	$0(4)	03/25/2026		A		64,775		(5)	(5)	Common Stock	64,775	$0	298,566.29	I	Through Schwartz Family Trust dated September 22, 2003
Long-Term Incentive Plan Units(4)	$0(4)	03/25/2026		A		103,342		(6)	(6)	Common Stock	103,342	$0	295,942.19	I	Through Schwartz Family Trust dated September 22, 2003
Common Units(7)	$0(7)							(7)	(7)	Common Stock	29.11		29.11(8)	I	Through Schwartz Family Trust dated September 22, 2003
Common Units(7)	$0(7)							(7)	(7)	Common Stock	96,543.26		96,543.26(9)	I	See Footnote 9.
Class A-1 Units(10)	$0(10)							(10)	(10)	Common Stock	2,397,695.44		2,397,695.44(11)	I	See Footnote 11.

Explanation of Responses:

1. Represents 24,250 shares of common stock previously reported as being 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. 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.

4. 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.

5. Represents 64,775 LTIP Units granted 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.

6. Represents 103,342 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 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.

7. Represents common units ("Common Units") of 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.

8. Represents 29.11 Common Units previously reported as being owned by the Reporting Person.

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

10. 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.

11. 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	03/27/2026
	** 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).
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)

FAQ

What did SMA CEO H. Michael Schwartz report in this Form 4 filing?

He reported two grants of long-term incentive plan (LTIP) Units on March 25, 2026. These awards are part of his equity compensation and are held indirectly through the Schwartz Family Trust and related entities.

How many LTIP Units were granted to the SMA CEO and on what terms?

He received 64,775 LTIP Units that vest ratably over four years starting December 31 of the grant year, subject to continued employment. These units are part of SmartStop Self Storage REIT’s long-term incentive plan for executives.

What are the performance-based LTIP Units disclosed for SMA CEO Schwartz?

He was credited with 103,342 performance-based LTIP Units, equal to 200% of the target award. The actual vested amount can range from 0% to 100%, with vesting expected no later than January 31, 2029 if performance goals are achieved.

How can SMA LTIP Units ultimately convert into common stock?

The filing explains that vested LTIP Units convert into common units of the operating partnership. Those common units are redeemable for either one share of SmartStop common stock or the cash value of that share, at the company’s election.

What indirect holdings are shown for the SMA CEO in this Form 4?

The document lists indirect ownership of common stock, common units, and Class A-1 units through entities such as SmartStop OP Holdings, LLC and the Schwartz Family Trust. These positions reflect previously reported holdings rather than new market transactions.

Is this SMA Form 4 an open-market buy or sell by the CEO?

No, the reported activity involves grant and award acquisitions of long-term incentive units, not open-market purchases or sales. The filing categorizes them as compensation-related equity awards granted under the company’s incentive plan.