National Storage Affiliates Trust Approves Merger with Public Storage

What Happened
National Storage Affiliates Trust (NSA) filed an 8-K (July 14, 2026) saying shareholders approved the merger of NSA into Pelican Merger Sub I, LLC (a Public Storage subsidiary) at a Special Meeting held July 14, 2026. 65,778,651 of 77,625,567 outstanding NSA common shares (about 85%) were represented. The merger agreement was originally dated March 16, 2026.

Key Details

• Special Meeting date: July 14, 2026; record date: June 1, 2026.
• Merger vote: For 65,683,522; Against 58,214; Abstain 36,915 (≈99.86% of votes cast were FOR).
• Advisory compensation vote (non-binding): For 56,080,837; Against 9,454,846; Abstain 242,968 (≈85.2% FOR).
• Because the merger was approved, a previously proposed adjournment proposal to solicit additional proxies was not presented.
• A press release announcing the results was filed as Exhibit 99.1.

Why It Matters
Shareholder approval clears a key regulatory/transactional shareholder hurdle for the proposed combination with Public Storage. The vote does not itself close the transaction; completion remains subject to the terms and conditions of the merger agreement and any required regulatory approvals. The advisory vote on merger-related executive compensation passed but is non-binding. Investors should watch future filings for the merger closing, any material conditions, and related disclosures.