SmartStop Self Storage (SMA) CEO receives new LTIP and performance units
Filing Impact
Filing Sentiment
Form Type
4
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.
Positive
- None.
Negative
- None.
Insider Trade Summary
8 transactions reported
Mixed
8 txns
Insider
Schwartz H. Michael
Role
CEO and President
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Long-Term Incentive Plan Units | 64,775 | $0.00 | -- |
| Grant/Award | Long-Term Incentive Plan Units | 103,342 | $0.00 | -- |
| holding | Common Units | -- | -- | -- |
| holding | Common Units | -- | -- | -- |
| holding | Class A-1 Units | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
Holdings After Transaction:
Long-Term Incentive Plan Units — 298,566.29 shares (Indirect, Through Schwartz Family Trust dated September 22, 2003);
Common Units — 29.11 shares (Indirect, Through Schwartz Family Trust dated September 22, 2003);
Class A-1 Units — 2,397,695.44 shares (Indirect, See Footnote 11.);
Common Stock — 24,250 shares (Indirect, See Footnote 1.)
Footnotes (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. 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. Represents 29,315 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 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. 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. 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. Represents 29.11 Common Units previously reported as being owned by the Reporting Person. Represents 96,543.26 Common Units owned by SOH previously reported as being owned by the Reporting Person. 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 2,397,695.44 Class A-1 Units owned by SOH previously reported as being owned by the Reporting Person.
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.