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

Company: National Storage Affiliates Trust
Filing Date: 2025-03-28
Form: DEF 14A
Chunk 14
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 compensation: $60,000

• Equity compensation: $100,000

• Additional annual cash compensation:

◦ Lead Independent Trustee: $25,000

◦ Audit Committee:

▪ Chairperson: $25,000

▪ Member: $10,000

◦ CNCG Committee:

▪ Chairperson: $25,000

▪ Member: $10,000

◦ Finance Committee:

▪ Chairperson: $20,000

▪ Member: $10,000

| For 2024, 100% of our independent trustees elected to receive some or all of their annual cash compensation in the form of equity |

A benchmarking analysis relating to our independent trustee compensation program was performed in 2024. As a result of that analysis and taking into consideration that our independent trustee compensation program has not been modified since 2022, effective as of the date of the Annual Meeting, the following changes to the independent trustee compensation program will take effect for 2025: the base cash compensation for independent trustees will increase to $70,000, the equity compensation will increase to $120,000, and the additional annual cash compensation for members of the Audit Committee will increase to $12,500. For more information, see "Compensation Discussion and Analysis–What Informs Our Pay Designs, Metrics and Decisions."

| NATIONAL STORAGE AFFILIATES 2025 PROXY STATEMENT |     | 22 |

We also reimburse each of our trustees for expenses incurred in connection with attending Board and committee meetings. In addition, if the Board forms a special committee, the trustees serving on the special committee may receive additional compensation.

The table below summarizes the compensation received by our independent trustees during 2024.

| Trustee Compensation Table for 2024 
 Name(1)                             |     | Fees Paid or      
 Earned in Cash(2) |         |     | Stock Awards(2) |           |     | Total |           |
|:------------------------------------|:----|:------------------|--------:|:----|:----------------|----------:|:----|:------|----------:|
| Warren W. Allan(3)(4)               |     | $                 |  26,250 |     | $               |   100,000 |     | $     |   126,250 |
| Lisa R. Cohn(3)                     |     |                   |  70,000 |     |                 |   150,000 |