Company: NSA-PB
Filing Date: 2025-03-28
Form Type: DEF 14A
Source: 0001628280-25-015431
Chunk: 65

Company: National Storage Affiliates Trust
Filing Date: 2025-03-28
Form: DEF 14A
Chunk 65
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s also managed other properties acquired by our operating partnership from time to time, in which event those properties also became part of such former PROs' managed portfolios, or upon our request, a former PRO on occasion managed one or more of our stores that were not part of such former PRO's managed portfolio. Each former PRO entered into a facilities portfolio management and sales commission agreement with our Company with respect to its managed portfolio together with asset management agreements for each property in its managed portfolio and, if applicable, for stores managed on our behalf that were not part of its managed portfolio. Each of Mr. Allan and Mr. Van Mourick was a party to a facilities portfolio management and sales commission agreement and various asset management agreements or controlled or was an investor in an entity that controlled a party to such agreements. The asset management agreements included payments of supervisory and administrative fees and expense reimbursements to Optivest. Following the internalization of the PRO structure, we entered into new asset management and sales commission agreements with certain of the former PROs, including Optivest, for a portion of the transitionary period at newly negotiated management fees For the year ended December 31, 2024, supervisory and administrative fees of $3.3 million were paid to Optivest. Of these supervisory and administrative fees paid to Optivest, Mr. Allan's and Mr. Van Mourick’s interest was approximately $1.2 million and $1.2 million, respectively, excluding each of their respective shares of any costs associated with such fees. For the year ended December 31, 2024, expense reimbursements of $4.9 million were paid to Optivest. Such expense reimbursements between the Company, as property owner, and each former PRO, as property manager, are considered customary and did not result in any profit for the former PRO. Of these expense reimbursements, each of Mr. Allan's and Mr. Van Mourick's interest was approximately $1.7 million and $1.7 million, respectively, excluding each of their respective shares of any costs associated with such reimbursements.

#### Tenant Insurance-Related Arrangements
We have and, prior to the internalization of our PRO structure, certain of our former PROs had, various arrangements with regulated insurance companies to enable us to assist our tenants in obtaining insurance or tenant protection plans in association with storage rentals. Prior to the internalization of our PRO structure, these insurance companies typically paid some of our former PROs access fees to help them procure business at