Look Nicholas 4
4 · SmartStop Self Storage REIT, Inc. · Filed Mar 27, 2026
Research Summary
AI-generated summary of this filing
SmartStop (SMA) General Counsel Nicholas Look Receives Award
What Happened
Nicholas Look, General Counsel and Secretary of SmartStop Self Storage REIT, received equity awards on March 25, 2026: two grants of long-term incentive plan (LTIP) units totaling 10,398 LTIP Units (4,006 and 6,392 units). Both grants are reported as derivative acquisitions at a $0.00 price (award grants), not purchases for cash.
Key Details
- Transaction date: 2026-03-25; Form filed 2026-03-27 (appears timely).
- Awards: 4,006 LTIP Units (vest ratably over four years beginning Dec 31 of grant year) and 6,392 LTIP Units (performance-based; reported as 200% of target — actual vesting may be 0–100% based on performance; if achieved, will vest no later than Jan 31, 2029).
- Reported price: $0.00 (award/grant). Treated as derivative securities.
- Conversion/redeemability: Vested LTIP Units convert into common units of the operating partnership; common units are redeemable for SmartStop common stock on a one-for-one basis (or cash) per the filing.
- Prior holdings: filing notes previously reported LTIP and Class A-1 unit holdings (e.g., 12,376.50 Class A-1 Units referenced); the filing does not provide a single “owned after” common-stock share total.
- Footnotes: see F2–F7 for vesting schedule, performance conditions, and conversion/redemption mechanics.
Context
These were compensation awards (code A) rather than open-market buys or sales, so they reflect planned long-term incentive pay rather than an immediate trading signal. The performance-based portion may result in fewer or more units vesting depending on future results; vested units convert to partnership/common units that can be exchanged for shares or cash.
Insider Transaction Report
- Award
Long-Term Incentive Plan Units
[F2][F3]2026-03-25+4,006→ 15,826.99 totalExercise: $0.00→ Common Stock (4,006 underlying) - Award
Long-Term Incentive Plan Units
[F2][F4]2026-03-25+6,392→ 15,907.65 totalExercise: $0.00→ Common Stock (6,392 underlying)
- 1,613
Common Stock
[F1] - 29,319
Long-Term Incentive Plan Units
[F2][F5]Exercise: $0.00→ Common Stock (29,319 underlying) - 12,376.5
Class A-1 Units
[F6][F7]Exercise: $0.00→ Common Stock (12,376.5 underlying)
Footnotes (7)
- [F1]Includes shares of Common Stock previously reported as being owned by the Reporting Person.
- [F2]Represents long-term incentive plan units ("LTIP Units") of SmartStop OP, L.P., the Issuer's operating partnership (the "Operating Partnership"). Vested LTIP Units are convertible into common units of the Operating Partnership ("Common Units"). Common Units are redeemable by the holder for, at the election of the Issuer, shares of the Issuer's Common Stock on a one-for-one basis or the cash value of such shares.
- [F3]Represents 4,006 LTIP Units issued to the Reporting Person pursuant to the Issuer's incentive plan, which LTIP Units vest ratably over four years commencing on December 31 of the year of grant, subject to the Reporting Person's continued employment or service through each vesting date.
- [F4]Represents 6,392 LTIP Units issued to the Reporting Person pursuant to the Issuer's incentive plan, which number is equal to 200% of the target number of LTIP Units to be issued upon vesting. The actual number of LTIP Units to be issued upon vesting can range from 0% to 100% of the number of LTIP Units reported, based on achievement of specified performance measures. Assuming the achievement of the specified performance measures, the LTIP Units, as adjusted, will vest no later than January 31, 2029.
- [F5]Represents LTIP Units previously reported as being owned by the Reporting Person. The LTIP Units vest ratably over four years commencing on the first anniversary of the issuance thereof, subject to the Reporting Person's continued employment or service through each vesting date.
- [F6]Represents Class A-1 limited partnership units ("Class A-1 Units"). Class A-I Units are redeemable by the holder for, at the election of the Issuer, shares of Common Stock of the Issuer on a one-for-one basis or the cash value of such shares.
- [F7]Represents 12,376.50 Class A-1 Units previously reported as being owned by the Reporting Person.