Terjung Michael O 4

What Happened Michael O. Terjung, Chief Accounting Officer of SmartStop Self Storage REIT, Inc. (SMA), received two long‑term incentive plan unit (LTIP Unit) awards on March 25, 2026 totaling 11,062 LTIP Units (4,262 + 6,800). Both grants were awarded at $0.00 (derivative awards), so no cash was exchanged at grant. LTIP Units are convertible into common units of the operating partnership, which are redeemable by the holder for shares of the issuer’s common stock on a one‑for‑one basis or for cash at the issuer’s election.

Key Details

• Transaction date: 2026-03-25; Filing date (Form 4): 2026-03-27 (filed two days after the transactions).
• Transaction type/code: A (Grant/Award); reported price: $0.00; reported value: $0.00.
• Award breakdown and vesting:
  • 4,262 LTIP Units: vest ratably over four years commencing December 31 of the grant year (footnote F3).
  • 6,800 LTIP Units: performance‑based award (reported as 200% of target); actual payout can range based on performance and, if achieved, will vest no later than January 31, 2029 (footnote F4).
• Shares/units previously reported: filing notes prior holdings including 30,941.50 Class A‑1 Units (footnote F7) and references to previously reported LTIP holdings; the filing does not state a single consolidated "shares owned after transaction" total in the provided excerpts.
• Other footnotes: a fractional share adjustment (–0.42 shares) from a July 30, 2025 redemption is noted (footnote F1).
• Timeliness: filing appears timely (reported two days after the transaction).

Context

• These are derivative incentive awards rather than open‑market purchases or sales; they are primarily retention and performance compensation and do not represent an immediate cash buy or sale of stock.
• The 6,800‑unit grant is contingent on performance metrics and may result in fewer units vesting (0%–100% of the reported amount) depending on results — meaning future value is uncertain until performance is measured.
• For retail investors: awards like this are common for executives and often reflect standard compensation/retention practices; they do not necessarily indicate the insider is buying or selling shares based on near‑term sentiment.