SmartStop REIT director sells 425 shares at $32
SmartStop Self Storage REIT, Inc. (SMA) director David J. Mueller reported selling 425 shares of Common Stock on September 16, 2026 at $32.05 per share in an open-market or private transaction.
Rhea-AI Filing Summary
SmartStop Self Storage REIT, Inc. (SMA) director David J. Mueller reported selling 425 shares of Common Stock on September 16, 2026 at $32.05 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, and Mueller now holds 4,215 Common shares directly. He also holds Long-Term Incentive Plan Units in the operating partnership that are ultimately convertible into Common Stock, including positions linked to 10,464.25 and 9,598 underlying Common shares, subject to vesting conditions.
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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 | $32.05 | $14K |
| holding | Long-Term Incentive Plan Units F2, F3 | -- | -- | -- |
| holding | Long-Term Incentive Plan Units F2, F4 | -- | -- | -- |
Holdings After Transaction:
Common Stock — 4,215 shares (Direct);
Long-Term Incentive Plan Units — 20,062.25 contracts (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 per share: $32.05 per share
Shares held after transaction: 4,215 shares
+3 more
6 metrics
Shares sold
425 shares
Common Stock sale reported for September 16, 2026
Sale price per share
$32.05 per share
Price for 425-share Common Stock sale on September 16, 2026
Shares held after transaction
4,215 shares
Direct Common Stock ownership following the reported sale
Underlying shares from LTIP Units (board reelection grant)
10,464.25 shares
Underlying Common Stock for LTIP Units vesting one year from each reelection
Underlying shares from LTIP Units (four-year vesting)
9,598 shares
Underlying Common Stock for LTIP Units vesting ratably over four years
Rule 10b5-1 plan adoption date
December 15, 2025
Adoption date of trading plan used for the September 16, 2026 sale
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 in this Form 4 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
"the Issuer's operating partnership (the "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, shares"
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What did director David J. Mueller report in this Form 4 for SMA?
He reported a sale of 425 shares of SmartStop Self Storage REIT Common Stock on September 16, 2026 at $32.05 per share, executed as an open-market or private transaction under a Rule 10b5-1 trading plan adopted on December 15, 2025.
Was the SMA insider sale made under a Rule 10b5-1 trading plan?
Yes. A footnote states the sales were effected pursuant to a Rule 10b5-1 trading plan adopted by David J. Mueller on December 15, 2025, and the filing’s plan-status checkbox affirms a Rule 10b5-1 arrangement.
What Long-Term Incentive Plan Units linked to SMA stock does David J. Mueller hold?
He holds LTIP Units in SmartStop OP, L.P. convertible into Common Units, which are redeemable for SmartStop Common Stock. Disclosed positions correspond to 10,464.25 and 9,598 underlying Common shares, subject to vesting schedules tied to board reelection and multi-year service.
Do the LTIP Units for SMA have an exercise price?
The Long-Term Incentive Plan Units reported have a stated conversion or exercise price of $0.00. Vested LTIP Units convert into Common Units, and those units are then redeemable for either one share of Common Stock per unit or the cash value of such share, at the issuer’s election.
AI-generated analysis. How Rhea-AI works. Not financial advice.
