NSA Announces Material Agreement, Director Changes
Ticker: NSA-PB · Form: 8-K · Filed: Jun 28, 2024 · CIK: 1618563
| Field | Detail |
|---|---|
| Company | National Storage Affiliates Trust (NSA-PB) |
| Form Type | 8-K |
| Filed Date | Jun 28, 2024 |
| Risk Level | medium |
| Pages | 3 |
| Reading Time | 3 min |
| Key Dollar Amounts | $0.01 |
| Sentiment | neutral |
Sentiment: neutral
Topics: material-agreement, director-change, officer-compensation
Related Tickers: NSA
TL;DR
NSA inked a big deal & swapped some execs, filing shows.
AI Summary
National Storage Affiliates Trust (NSA) announced on June 25, 2024, the entry into a material definitive agreement. The filing also disclosed the departure of a director, the election of a new director, and updates to compensatory arrangements for certain officers. Specific details regarding the agreement, director changes, and compensation were filed as exhibits.
Why It Matters
This filing indicates significant corporate actions, including a new material agreement and changes in leadership, which could impact the company's strategic direction and operational stability.
Risk Assessment
Risk Level: medium — Material definitive agreements and changes in directorship/officers can introduce uncertainty and potential shifts in strategy.
Key Players & Entities
- National Storage Affiliates Trust (company) — Registrant
- June 25, 2024 (date) — Earliest event reported
FAQ
What is the nature of the material definitive agreement entered into by National Storage Affiliates Trust?
The filing indicates the entry into a material definitive agreement, but the specific details are provided in the exhibits attached to this Form 8-K.
Who is the departing director from National Storage Affiliates Trust?
The filing mentions the departure of a director, but the name of the specific director is not explicitly stated in the provided text and would be found in the exhibits.
Who has been elected as a new director to the board of National Storage Affiliates Trust?
The filing states the election of a new director, but the name of the newly elected director is not provided in this excerpt and is likely detailed in the exhibits.
Are there any changes to the compensatory arrangements for certain officers at National Storage Affiliates Trust?
Yes, the filing indicates updates to compensatory arrangements for certain officers, with further details available in the accompanying exhibits.
What is the state of incorporation for National Storage Affiliates Trust?
National Storage Affiliates Trust is incorporated in Maryland.
Filing Stats: 835 words · 3 min read · ~3 pages · Grade level 11.3 · Accepted 2024-06-28 16:05:31
Key Financial Figures
- $0.01 — Common Shares of Beneficial Interest, $0.01 par value per share NSA New York Stock
Filing Documents
- nsa-20240625.htm (8-K) — 34KB
- ex101-derekbergeonxseveran.htm (EX-10.1) — 76KB
- 0001628280-24-030490.txt ( ) — 295KB
- nsa-20240625.xsd (EX-101.SCH) — 2KB
- nsa-20240625_def.xml (EX-101.DEF) — 16KB
- nsa-20240625_lab.xml (EX-101.LAB) — 28KB
- nsa-20240625_pre.xml (EX-101.PRE) — 16KB
- nsa-20240625_htm.xml (XML) — 5KB
01. Entry into a Material Definitive Agreement
Item 1.01. Entry into a Material Definitive Agreement. Effective June 25, 2024, National Storage Affiliates Trust (the " Company ") and Derek Bergeon, the Company's executive vice president and chief operating officer, have mutually agreed to terminate Mr. Bergeon's employment relationship with the Company (the " Termination Date "), for Mr. Bergeon to pursue other opportunities. In connection with Mr. Bergeon leaving the Company, Mr. Bergeon entered into a separation agreement (the " Separation Agreement ") with the Company dated June 25, 2024. The Separation Agreement provides that, among other things and subject to certain conditions, Mr. Bergeon will receive (i) six months of his current base salary and (ii) the estimated difference between the premiums that Mr. Bergeon would be responsible for under the Company's health insurance prior to the Termination Date and the premiums Mr. Bergeon would pay for health insurance under the Consolidated Omnibus Budget Reconciliation Act of 1985, as amended, for six months following the Termination Date. In addition, 8,126 of Mr. Bergeon's unvested performance-based long-term incentive plan units (" LTIP Units ") in NSA OP, LP, a Delaware limited partnership (the " Operating Partnership "), shall fully vest, which amount represents the target level of performance, and Mr. Bergeon's 5,765 unvested LTIP Units in the Operating Partnership that vest on the basis of time shall fully vest, each effective as of the Termination Date. In addition, in accordance with the Separation Agreement and his employment agreement, Mr. Bergeon is subject to a non-solicitation provision, effective for the twelve months following the Termination Date, as well as non-disparagement and confidentiality provisions, but is released from the restrictions on competition with the Company that were included in his employment agreement, also effective as of the Termination Date. Further, under the Separation Agreement, Mr. Bergeon provided a general rel
01. Financial Statements and Exhibits
ITEM 9.01. Financial Statements and Exhibits. The following exhibits are furnished with this report: Exhibit Number Description 10.1 Separation Agreement 101 Cover Page Interactive Data File - the cover page XBRL tags are embedded within the Inline XBRL document. 104 The cover page from this Current Report on Form 8-K, formatted as Inline XBRL.
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. NATIONAL STORAGE AFFILIATES TRUST By: /s/ David G. Cramer David G. Cramer President and Chief Executive Officer Date: June 28, 2024