SmartStop (SMA) director’s 425-share sale under 10b5-1 plan
Rhea-AI Filing Summary
SmartStop Self Storage REIT, Inc. (SMA) director David J. Mueller reported selling 425 shares of Common Stock on August 17, 2026 at $33.70 per share in an open-market or private transaction. The sale was effected under a Rule 10b5-1 trading plan adopted on December 15, 2025. Following this sale, he directly holds 4,640 shares of Common Stock and also holds Long-Term Incentive Plan Units that are ultimately linked to 10,464.25 and 9,598 underlying shares of Common Stock, subject to vesting and conversion terms.
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Insider Trade Summary 10b5-1
Net Seller: 425 shares
Net Sell
3 txns
Insider
Mueller David J
Role
Director
Sold
425 shs ($14K)
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Sale | Common Stock F1 | 425 | $33.70 | $14K |
| holding | Long-Term Incentive Plan Units F2, F3 | -- | -- | -- |
| holding | Long-Term Incentive Plan Units F2, F4 | -- | -- | -- |
Holdings After Transaction:
Common Stock — 4,640 shares (Direct);
Long-Term Incentive Plan Units — 20,062.25 shares (Direct)
Footnotes (4)
- F1. 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.
- F2. 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.
- F3. Represents 10,464.25 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.
- F4. 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.
Key Figures
Shares Sold: 425 shares
Sale Price: $33.70 per share
Common Shares After Transaction: 4,640 shares
+5 more
8 metrics
Shares Sold
425 shares
Common Stock sold by director David J. Mueller on August 17, 2026
Sale Price
$33.70 per share
Price for the 425-share Common Stock sale on August 17, 2026
Common Shares After Transaction
4,640 shares
Direct Common Stock holdings following the August 17, 2026 sale
LTIP Underlying Shares (Board Reelection Grant)
10,464.25 shares
Underlying Common Stock for LTIP Units tied to board reelection
LTIP Underlying Shares (Four-Year Vesting Grant)
9,598 shares
Underlying Common Stock for LTIP Units vesting ratably over four years
LTIP Exercise/Conversion Price
$0.0000
Conversion price of Long-Term Incentive Plan Units into Common Units
10b5-1 Plan Adoption Date
December 15, 2025
Date David J. Mueller adopted the Rule 10b5-1 trading plan
Transaction Date
August 17, 2026
Date of reported Common Stock sale and LTIP holdings snapshot
Key Terms
Rule 10b5-1 trading plan, Long-Term Incentive Plan Units, Operating Partnership, Common Units, +1 more
5 terms
Rule 10b5-1 trading plan regulatory
"The sales reported ... were effected pursuant to a Rule 10b5-1 trading plan"
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."
Operating Partnership financial
"LTIP Units of SmartStop OP, L.P., the Issuer's operating partnership"
An operating partnership is a separate legal entity set up to own and run a company’s core assets and day-to-day businesses, while investors hold interests indirectly through the parent company. Think of it like a dedicated garage that actually stores and services the cars while the owner keeps the dealership; it matters to investors because it affects how income, taxes, liability and voting rights are allocated and therefore can influence distributions and risk.
Common Units financial
"Vested LTIP Units are convertible into common units of the Operating Partnership"
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"
FAQ
What insider transaction did SMA director David J. Mueller report?
David J. Mueller reported a sale of 425 SMA Common Stock shares on August 17, 2026 at $33.70 per share. After the transaction, he directly owned 4,640 shares plus separate Long-Term Incentive Plan Unit positions linked to additional underlying shares.
Was the August 17, 2026 SMA stock sale under a Rule 10b5-1 plan?
Yes. The filing states the sale was effected pursuant to a Rule 10b5-1 trading plan adopted by David J. Mueller on December 15, 2025. Such pre-arranged plans allow insiders to schedule trades in advance under defined conditions.
What Long-Term Incentive Plan Units linked to SMA stock does Mueller hold?
Mueller holds LTIP Units of the operating partnership linked to 10,464.25 underlying shares and another grant linked to 9,598 underlying shares of Common Stock. These LTIP Units vest over time and can convert into redeemable Common Units with one-for-one stock or cash redemption rights.
How do Mueller’s SMA LTIP Units vest according to the Form 4?
One LTIP award of 10,464.25 units vests one year from each reelection to the board. Another grant of 9,598 LTIP Units vests ratably over four years, subject to Mueller’s continued employment or service through each vesting date.
AI-generated analysis. How Rhea-AI works. Not financial advice.
