SmartStop Self Storage REIT general counsel buys $30,000 in stock

Published 04/04/2025, 00:44
SmartStop Self Storage REIT general counsel buys $30,000 in stock

Nicholas Look, General Counsel and Secretary of SmartStop Self Storage REIT, Inc. (NASDAQ:SMA), recently purchased 1,000 shares of the company’s common stock, valued at $30,000. The shares were acquired at a price of $30 each, according to a recent SEC filing. The stock currently trades at $33.1, representing a 10% gain from Look’s purchase price, and sits near its 52-week high of $33.92. InvestingPro subscribers can access detailed insider trading patterns and additional key metrics to make informed investment decisions.

In addition to this transaction, Look was issued 19,895 Long-Term Incentive Plan (LTIP) Units on April 1, 2025, and an additional 9,424 LTIP Units on April 2, 2025. These LTIP Units are part of SmartStop’s incentive plan and will vest over a four-year period, contingent on continued employment. LTIP Units have the potential to be converted into Class A Common Units, which can be redeemed for either shares of SmartStop’s Class A Common Stock or their cash equivalent.

These transactions reflect ongoing activity in Look’s holdings, which include both common and incentive stock units, as part of his compensation and investment in SmartStop Self Storage REIT.

In other recent news, SmartStop Self Storage REIT, Inc. began trading on the New York Stock Exchange with an opening share price of $32.40. This marks a $2.40 increase from its initial public offering (IPO) price set at $30.00 per share. The company announced the pricing of its public offering of 27 million common shares. Additionally, SmartStop has provided underwriters with a 30-day option to purchase up to an additional 4.05 million shares at the public offering price, excluding underwriting discounts and commissions. The offering is managed by joint book-running managers, including J.P. Morgan, Wells Fargo (NYSE:WFC) Securities, KeyBanc Capital Markets, BMO Capital Markets, and Truist Securities. These developments highlight the company’s recent activities in the financial markets.

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