OSGOOD STEVEN G 4

What Happened

• Steven G. Osgood, a director of National Storage Affiliates Trust (NSA), was granted 5,232 restricted common shares on May 15, 2026 at an attributable value of $42.53 per share (total value reported $222,517).
• On May 16, 2026, Osgood converted 11,451 LTIP units (long-term incentive plan units) into 11,451 Class A OP Units of the Partnership; the conversion is reported as a derivative conversion (no per-share price applicable).

Key Details

• Transaction dates: May 15, 2026 (restricted share grant); May 16, 2026 (LTIP → Class A OP conversion). Filing date: May 19, 2026.
• Grant: 5,232 restricted shares at $42.53 each — aggregate reported value $222,517. Conversion: 11,451 LTIP units converted into 11,451 Class A OP Units (no sale or cash price reported).
• Holdings after transactions: 5,232 common Shares (restricted) and 142,487 Class A OP Units; 0 LTIP Units remaining.
• Notable footnotes: Restricted shares vest the earlier of (i) May 15, 2027, (ii) the day before the next annual meeting, or (iii) immediately prior to the Company Merger Effective Time. The LTIP → Class A OP conversion was voluntarily reported to provide notice; converted OP Units may be redeemable for cash equal to market value or, at the issuer’s option, converted into Shares one-for-one (subject to adjustments).
• Filing: Reported on Form 4 (Accession 0001628280-26-036367). No sale or open-market purchase was reported.

Context

• The restricted-share grant is an award (A code) and does not reflect an open-market purchase; vesting conditions apply.
• The LTIP conversion is a derivative conversion (C code) that changes the form of incentive units to partnership common units; these units carry redemption/conversion features rather than representing an immediate cash sale.
• These entries are informational about compensation and unit-structure changes rather than disclosures of selling activity.