Palazzo Dominic M 4
4 · National Storage Affiliates Trust · Filed Jul 22, 2026
Research Summary
AI-generated summary of this filing
National Storage Affiliates (NSA) Director Dominic Palazzo Sells Shares
What Happened Dominic M. Palazzo, a director of National Storage Affiliates Trust (NSA), reported dispositions totaling 61,965 NSA-related units on July 22, 2026. The filing shows two dispositions: 5,056 common shares and 56,909 derivative units (total 61,965). No per-share prices or total proceeds are reported on the Form 4; the transactions were made pursuant to the Merger Agreement with Public Storage and involved conversion/redemption mechanics rather than an open-market sale.
Key Details
- Transaction date: 2026-07-22 (filed same day; no late filing indicated).
- Dispositions: 5,056 common shares (direct) and 56,909 derivative units (converted/redeemed) — total 61,965 units.
- Price / value: Not reported (N/A) on the Form 4 — proceeds cannot be calculated from this filing.
- Shares owned after transaction: Not specified in this filing.
- Notable footnotes:
- F1: NSA common shares (including restricted shares) were converted under the Merger Agreement into 0.1400 newly issued Public Storage shares plus cash in lieu of fractional shares.
- F3: Class A OP Units were converted into Public Storage OP units per the Merger Agreement or redeemed into units of an NSA joint-venture LLC (holder election).
- F2: Some reported holdings are held by a trust (Dominic Mario Palazzo Trust) for which the reporting person has or shares voting/investment power; the reporting person disclaims beneficial ownership except to the extent of pecuniary interest.
- Transaction type: Disposition to issuer in connection with a corporate merger; not coded as a market sale.
Context These disposals appear to be transactional adjustments under the March 16, 2026 Merger Agreement with Public Storage (conversion/redemption mechanics) rather than discretionary open-market selling. Because the Form 4 reports the conversion/ redemption and not a cash sale price, retail investors cannot infer proceeds or portfolio intent from this filing alone. The filing notes the exchange ratio (0.1400 Public Storage shares per NSA share) and cash in lieu for fractional shares.
Insider Transaction Report
- Disposition to Issuer
Common shares of beneficial interest, $0.01 par value
[F1][F2]2026-07-22−5,056→ 0 total(indirect: See footnote) - Disposition to Issuer
Class A OP Units
[F3][F4][F2]2026-07-22−56,909→ 0 total(indirect: See footnote)→ Common shares of beneficial interest, $0.01 par value (56,909 underlying)
Footnotes (4)
- [F1]Pursuant to the Agreement and Plan of Merger, dated as of March 16, 2026 (the "Merger Agreement"), between the Issuer, Public Storage and certain other parties, common shares of beneficial interest, $0.01 par value of the Issuer, inclusive of restricted shares, were converted into the right to receive 0.1400 (the "Exchange Ratio") newly issued common shares of beneficial interest, par value $0.10 per share, of Public Storage and cash in lieu of any fractional shares.
- [F2]Held by Dominic Mario Palazzo TTEE Dominic Mario Palazzo Trust UTAD 02/10/2000 for which the Reporting Person has or shares voting and/or investment power. This filing shall not be deemed to be an admission that the Reporting Person is the beneficial owner of any of the securities reported herein, and the Reporting Person disclaims beneficial ownership of such securities except to the extent of the Reporting Person's pecuniary interest therein.
- [F3]Pursuant to the Merger Agreement, each Class A OP Unit issued and outstanding immediately prior to the effective time of the Partnership Merger was (i) automatically converted into the right to receive a number of newly issued common units in Public Storage OP, L.P., equal to the Exchange Ratio or (ii), at the election of holders of Class A OP Units, redeemed in exchange for one newly issued unit in NSA OP JV, LLC which holds 80% of the equity of the joint venture with Public Storage that holds certain identified real estate assets contributed by the Partnership.
- [F4]N/A.