Form 4: SmartStop Self Storage REIT CEO H. Michael Schwartz Reports Changes in Beneficial Ownership

H. Michael Schwartz, CEO of SmartStop Self Storage REIT, reports changes in beneficial ownership of Class A Common Stock, Class A Common Units, and Long-Term Incentive Plan Units.

Summary

• H. Michael Schwartz, the CEO of SmartStop Self Storage REIT, filed a Form 4 detailing changes in his beneficial ownership of the company's securities.
• The report includes transactions related to Class A Common Stock, Class A Common Units of SmartStop OP, L.P., and Long-Term Incentive Plan Units (LTIP Units).
• Schwartz directly and indirectly owns Class A Common Stock, with 483,224 shares held through SmartStop OP Holdings, LLC (SOH) and 117,260.79 shares held through the Schwartz Family Trust.
• He also indirectly owns 386,173 Class A Common Units through SOH and 9,590,781.71 Class A-1 Units through SOH.
• Additionally, Schwartz was issued 187,897 LTIP Units and 185,094 LTIP Units pursuant to the Issuer's incentive plan, which vest over four years commencing on December 31, 2024, subject to continued employment or service.
• 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, and will vest no later than March 31, 2027.

Sentiment

Score: 5

Explanation: This is a neutral regulatory filing. It simply reports changes in beneficial ownership, with no inherent positive or negative implications.

Future Outlook

The vesting of LTIP Units is subject to continued employment and the achievement of specified performance measures, with the actual number of units vesting ranging from 0% to 100% of the reported amount.

Industry Context

Form 4 filings are a routine part of corporate governance, providing transparency into the transactions of company insiders and their holdings in the company.

Stakeholder Impact

• Shareholders are informed about the CEO's holdings and transactions in the company's stock, promoting transparency.

Key Dates

Keywords

beneficial ownership, Form 4, SmartStop Self Storage REIT, H. Michael Schwartz, Class A Common Stock, Class A Common Units, LTIP Units, SmartStop OP Holdings, Schwartz Family Trust