Company: NSA-PB
Filing Date: 2025-03-28
Form Type: DEF 14A
Source: 0001628280-25-015431
Chunk: 24

Company: National Storage Affiliates Trust
Filing Date: 2025-03-28
Form: DEF 14A
Chunk 24
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 S. Cowan, Jr. |     |        | 536,025 |     |       | — |     |                                        | 369,288 |     |                 | 2,075,040 |     |                           |      — |     |       | 2,980,353 |
| Tiffany S. Kenyon     |     |        | 342,500 |     |       | — |     |                                        | 107,433 |     |                 |   717,515 |     |                           | 13,800 |     |       | 1,181,248 |

(1) Reflects the aggregate grant date fair value of LTIP unit awards granted to each of our NEOs in accordance with ASC Topic 718. For more information, see footnote (3) to the Summary Compensation Table below in "–Summary Compensation and Other Tables."

(2) All other compensation for 2024 comprises the 401(k) employer matching contribution for each NEO, if any. See footnote 1 to the Summary Compensation Table set forth in "–Summary Compensation and Other Tables."

### WHAT STANDS OUT ABOUT OUR PAY
When Institutional Shareholder Services ("ISS") reviewed our pay plans last year they gave us the second highest possible score. Our disclosures show that:

• We have good external pay parity: our CEO’s pay is conservative relative to both our selected peers and those selected by ISS.

• We have good internal pay parity: our CEO’s pay is less than double that of the next-highest-paid NEO.

• The majority of our CEO’s equity-based pay is performance-based.

| NATIONAL STORAGE AFFILIATES 2025 PROXY STATEMENT |     | 31 |

• We have had consistently high support for our pay plans, averaging 97.3% over the last 5 years.

• As of December 31, 2024, our executive chairperson and CEO owned 11.5 times and 22.5 times, respectively, the minimum amount of our equity that they are required to hold under our Minimum Equity Ownership Guidelines.

• The objective metrics of our annual incentive cash bonus program are based on key elements that we believe drive our growth.

• Our programmatic performance-based equity awards are based on the overall value that we provide to our shareholders as compared to shareholders of our self storage REIT peers and other REITs.

### PAY ELEMENTS
Each of our NEOs is eligible to receive a base salary, an annual cash bonus based on Company and individual performance factors and