SmartStop Self Storage REIT (SMA) director sells 425 shares under 10b5-1 plan

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 $32.81 per share on March 16, 2026. After this trade, he directly held 6,765.87 shares of Common Stock.

The sale was executed under a pre-arranged Rule 10b5-1 trading plan adopted on December 15, 2025. Mueller also holds Long-Term Incentive Plan Units that are ultimately tied to Common Stock, including LTIP Units convertible into 7,234.25 underlying shares that vest one year after each board reelection and 9,598 LTIP Units that vest ratably over four years, subject to continued service.

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).

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 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
	Officer (give title below)		Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
03/16/2026

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	03/16/2026		S(1)		425	D	$32.81	6,765.87	D

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(2)	$0(2)							(3)	(3)	Common Stock	7,234.25		7,234.25(3)	D
Long-Term Incentive Plan Units(2)	$0(2)							(4)	(4)	Common Stock	9,598		9,598(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. Mueller	03/16/2026
	** 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.

FAQ

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

David J. Mueller reported selling 425 shares of SmartStop Self Storage REIT Common Stock at $32.81 per share on March 16, 2026. The transaction was an open-market sale and left him with 6,765.87 directly held shares afterward, according to the Form 4 filing.

Was David J. Mueller’s sale of SmartStop (SMA) shares under a Rule 10b5-1 plan?

Yes, the 425-share sale was made under a Rule 10b5-1 trading plan adopted on December 15, 2025. Such plans schedule trades in advance, indicating the timing of this transaction was pre-arranged rather than a discretionary, same-day trading decision by the director.

How many SmartStop Self Storage REIT shares does David J. Mueller hold after this Form 4?

After the reported sale, David J. Mueller directly holds 6,765.87 shares of SmartStop Self Storage REIT Common Stock. In addition, he holds Long-Term Incentive Plan Units that can convert into Common Units and ultimately into shares of Common Stock on a one-for-one basis.

What are the Long-Term Incentive Plan Units reported by David J. Mueller in the SMA Form 4?

The filing shows Long-Term Incentive Plan Units of SmartStop OP, L.P. that are tied to the issuer’s Common Stock. Vested LTIP Units convert into Common Units, which can be redeemed for either shares of Common Stock on a one-for-one basis or the cash value of those shares.

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

One LTIP grant covers 7,234.25 units issued in connection with his board reelection, vesting one year after each reelection. Another grant covers 9,598 LTIP Units that vest ratably over four years, starting on the first anniversary of issuance, subject to his continued employment or service.

Does the latest SmartStop Self Storage REIT Form 4 show any option exercises for David J. Mueller?

No option exercises are reported; the filing shows one open-market sale of Common Stock and holding entries for Long-Term Incentive Plan Units. The LTIP Units have a stated exercise price of $0.00, reflecting their incentive nature rather than typical market-priced options.