SmartStop (SMA) CFO receives performance-based LTIP and Class A-1 equity awards
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
Barry James R. reported acquisition or exercise transactions in this Form 4 filing.
SmartStop Self Storage REIT, Inc. reported that its CFO and Treasurer, Barry R. James, received equity-based compensation in the form of long-term incentive plan units. On March 25, 2026, he was granted 11,967 LTIP Units and a separate award of 7,501 LTIP Units, both at a grant price of $0.00 per unit.
The 7,501 LTIP Units vest ratably over four years starting December 31 of the grant year, subject to continued employment. The 11,967 LTIP Units represent up to 200% of a target amount and will vest based on performance measures, with vesting expected no later than January 31, 2029 if goals are met.
Following these awards, James holds LTIP Units convertible into 29,319 shares of Common Stock and 30,941.50 Class A-1 Units, each redeemable on a one-for-one basis into Common Stock or cash at the issuer’s election, plus 3,375 shares of Common Stock directly. The filing shows no open-market purchases or sales.
Positive
- None.
Negative
- None.
Insider Trade Summary
5 transactions reported
Mixed
5 txns
Insider
Barry James R.
Role
CFO and Treasurer
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Long-Term Incentive Plan Units | 7,501 | $0.00 | -- |
| Grant/Award | Long-Term Incentive Plan Units | 11,967 | $0.00 | -- |
| holding | Long-Term Incentive Plan Units | -- | -- | -- |
| holding | Class A-1 Units | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
Holdings After Transaction:
Long-Term Incentive Plan Units — 32,070.12 shares (Direct);
Class A-1 Units — 30,941.5 shares (Direct);
Common Stock — 3,375 shares (Direct)
Footnotes (1)
- Includes shares of Common Stock previously reported as being owned by the Reporting Person. 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 7,501 LTIP Units issued 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. Represents 11,967 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. Represents LTIP Units previously reported as being owned by the Reporting Person. The 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. 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. Represents 30,941.50 Class A-1 Units previously reported as being owned by the Reporting Person.
FAQ
What did SmartStop (SMA) disclose about CFO Barry James in this Form 4?
SmartStop disclosed that CFO Barry R. James received two equity awards of long-term incentive plan units on March 25, 2026. These awards are part of the company’s incentive plan and are tied to time-based vesting and performance conditions rather than open-market trades.
How many LTIP Units did SmartStop CFO Barry James receive?
Barry James received 11,967 long-term incentive plan (LTIP) units and a separate grant of 7,501 LTIP units. Both awards were issued at a grant price of $0.00 per unit as equity compensation under SmartStop’s incentive plan, not as cash purchases in the market.
What are the vesting terms for Barry James’s new SmartStop LTIP awards?
The 7,501 LTIP Units vest ratably over four years starting December 31 of the grant year, subject to continued service. The 11,967 LTIP Units vest based on specified performance measures, with vesting expected no later than January 31, 2029 if those performance criteria are achieved.
Can SmartStop LTIP Units be converted into Common Stock for Barry James?
Yes. Vested LTIP Units convert into operating partnership common units, which are redeemable for either shares of SmartStop Common Stock on a one-for-one basis or the cash value of those shares, at the issuer’s election. This links James’s compensation to overall shareholder value.
Does this SmartStop Form 4 show any stock purchases or sales by the CFO?
The Form 4 does not show any open-market purchases or sales by the CFO. The only reportable events are grants of long-term incentive plan units as compensation, along with updated totals for his existing LTIP Units, Class A-1 Units, and directly held Common Stock.