National Storage Affiliates (NSA) Director Lisa Cohn Disposes 16,327 Shares

What Happened
Lisa R. Cohn, a director of National Storage Affiliates Trust (NSA), reported two dispositions on 2026-07-22 totaling 16,327 NSA common shares (4,703 and 11,624). Both transactions are reported as dispositions to the issuer in connection with the Merger Agreement with Public Storage. No per‑share or dollar amounts are shown; under the merger each NSA share was converted into the right to receive 0.1400 newly issued Public Storage common shares (with cash in lieu for any fractional share).

Key Details

• Transaction date: 2026-07-22 (filed on 2026-07-22). Transaction code: D (Disposition to issuer).
• Shares disposed: 4,703 and 11,624; total 16,327 shares. One line (11,624) is marked as a derivative disposition.
• Price / cash value: N/A in the filing — consideration was paid via conversion into Public Storage shares per the 0.1400 exchange ratio and cash for fractions. The 16,327 NSA shares convert to ~2,285.8 (≈2,286) Public Storage shares.
• Shares owned after transaction: Not disclosed in the provided filing data.
• Notable footnotes: F1 explains that NSA common shares (including restricted shares) were converted into Public Storage common shares at the 0.1400 exchange ratio; F2 explains related Class A OP Unit conversion/redemption mechanics.
• Filing timeliness: Filing date matches the report date; no late filing indicated in the provided data.

Context
These dispositions are merger-related conversions rather than open‑market sales; the insider received securities of the acquiring company (and cash for fractions) under the Merger Agreement. Merger conversions are routine corporate‑action transactions and do not necessarily reflect the insider’s view on the company’s prospects.