National Storage Affiliates Trust (NSA) Form 4 National Storage Affiliates Trust / Arlen Dale Nordhagen ownership change

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

1. Name and Address of Reporting Person^*

Nordhagen Arlen Dale

(Last) (First) (Middle)

C/O NATIONAL STORAGE AFFILIATES TRUST

8400 EAST PRENTICE AVENUE, 9TH FLOOR

(Street)

GREENWOOD VILLAGE CO 80111

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
National Storage Affiliates Trust [ NSA ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director	10% Owner
X	Officer (give title below)	Other (specify below)
Chief Executive Officer

3. Date of Earliest Transaction (Month/Day/Year)
12/24/2018

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common shares of beneficial interest, $0.01 par value	12/24/2018(1)		P		20,000(1)	A	$25.7(2)	160,700(3)	D
Common shares of beneficial interest, $0.01 par value	09/20/2019(1)		P		190(1)(4)	A	$33.31	160,890(3)	I	See footnote(5)(6)
Common shares of beneficial interest, $0.01 par value	12/27/2019(1)		P		217(1)(4)	A	$32.93	161,107(3)	I	See footnote(5)(6)
Common shares of beneficial interest, $0.01 par value	01/24/2020(1)		P		390(1)(4)	A	$34.97	161,497(3)	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. Represents common shares of beneficial interest, $0.01 par value ("Common Shares"), purchased in the open market. At the time of the transactions (other than the January 24, 2020 transaction), the Reporting Person was the Chairman of the Board and the Chief Executive Officer of the Issuer. Effective January 1, 2020, the Reporting Person resigned from his position as Chief Executive Officer and was elevated to the position of Executive Chairman of the Board.

2. The Common Shares were purchased in multiple transactions at a price of $25.70 per share. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of Common Shares purchased at such price.

3. The Reporting Person's total direct and indirect beneficial ownership following each of the reported transactions described above in this class of securities is 161,497 Common Shares, which includes those Common Shares previously reported. The 161,497 Common Shares does not include derivative securities of the Reporting Person that have been reported on the Reporting Person's Forms 3 and Forms 4.

4. Represents Common Shares acquired through a brokerage dividend reinvestment plan.

5. Consists of Common Shares acquired by Nordhagen LLP, for which the Reporting Person has or shares voting and/or investment power.

6. This filing shall not be deemed to be an admission that the Reporting Person is the beneficial owner of any of the securities reported herein, and the Reporting Person disclaims beneficial ownership of such securities except to the extent of the Reporting Person's pecuniary interest therein.

Remarks:

	Arlen Dale Nordhagen, by Jason Parsont, his Attorney-in-fact	02/06/2020
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
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