{"url_path":"/sec/nsa/8-k/2026-07-22/cover-page","section_key":"cover-page","section_title":"Cover Page","topic":"sec","document":{"doc_type":"8-K","doc_date":"2026-07-22","source_url":"https://www.sec.gov/Archives/edgar/data/1618563/0001104659-26-085888-index.html","accession_number":"0001104659-26-085888","cik":"0001618563","ticker":"NSA","issuer_name":"National Storage Affiliates Trust","edgar_url":"https://www.sec.gov/Archives/edgar/data/1618563/0001104659-26-085888-index.html","primary_entity_key":"0001618563","primary_entity_name":"National Storage Affiliates Trust"},"word_count":666,"has_tables":true,"body_markdown":"false\n--12-31\n0001618563\n\n0001618563\n\n2026-07-22\n2026-07-22\n\n0001618563\n\nus-gaap:CommonClassAMember\n\n2026-07-22\n2026-07-22\n\n0001618563\n\nus-gaap:SeriesAPreferredStockMember\n\n2026-07-22\n2026-07-22\n\n0001618563\n\nus-gaap:SeriesBPreferredStockMember\n\n2026-07-22\n2026-07-22\n\niso4217:USD\n\nxbrli:shares\n\niso4217:USD\n\nxbrli:shares\n\n \n\n \n\n**UNITED\nSTATES\nSECURITIES AND EXCHANGE COMMISSION**\n\n**Washington, D.C. 20549**\n\n \n\n \n\n \n\n**FORM 8-K**\n\n \n\n \n\n \n\n**CURRENT REPORT**\n\n** **\n\n**Pursuant to Section 13 or 15(d) of The\nSecurities Exchange Act of 1934**\n\n \n\n**Date of Report (Date of earliest event reported):\nJuly 22, 2026**\n\n \n\n \n\n \n\n**National\nStorage Affiliates Trust**\n\n**(Pelican Merger Sub I, LLC, as successor by\nmerger to National Storage Affiliates Trust)\n(Exact name of registrant as specified in its charter)**\n\n \n\n**Maryland**\n**001-37351**\n**93-2834996**\n\n**(State or other jurisdiction of incorporation)**\n**(Commission File Number)**\n**(IRS Employer Identification No.)**\n\n \n\n**2811 Internet Boulevard**\n\n**Frisco****, Texas****75034**\n\n**(Address of principal\nexecutive offices)(Zip Code)**\n\n \n\n**(469****)\n649-9486**\n\n**(Registrant’s\ntelephone number, including area code)**\n\n** **\n\n \n\n** **\n\nCheck the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under\nany of the following provisions:\n\n \n\n¨\nWritten communications\npursuant to Rule 425 under the Securities Act (17 CFR 230.425)\n\n \n\n¨\nSoliciting\nmaterial pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)\n\n \n\n¨\nPre-commencement\ncommunications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))\n\n \n\n¨\nPre-commencement\ncommunications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))\n\n \n\nSecurities registered pursuant to Section 12(b)\nof the Act:\n\n \n\nTitle of each class\nTrading Symbols\nName of each exchange on which\n\nregistered\n\nCommon Shares of Beneficial Interest, $0.01 par value per share\nNSA\nNew York Stock Exchange\n\nSeries A Cumulative Redeemable Preferred Shares of Beneficial Interest, par value $0.01 per share\nNSA Pr A\nNew York Stock Exchange\n\nSeries B Cumulative Redeemable Preferred Shares of Beneficial Interest, par value $0.01 per share\nNSA Pr B\nNew York Stock Exchange\n\n \n\nIndicate by check mark whether the registrant\nis an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the\nSecurities Exchange Act of 1934 (§240.12b-2 of this chapter).\n\n \n\nEmerging\ngrowth company ¨\n\n \n\nIf\nan emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying\nwith any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ¨\n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n**Introductory Note**\n\n \n\nOn July 22, 2026 (the “Closing Date”),\nPublic Storage, a Maryland real estate investment trust (“Public Storage”), announced the completion of its previously announced\nacquisition of National Storage Affiliates Trust, a Maryland real estate investment trust (“NSA”), pursuant to that certain\nAgreement and Plan of Merger, dated as of March 16, 2026 (the “Merger Agreement”), by and among NSA, NSA OP, LP, a Delaware\nlimited partnership (“NSA OP”), Public Storage, Public Storage OP, L.P., a Delaware limited partnership (“PSA OP”),\nPelican Merger Sub I, LLC, a Maryland limited liability company and a wholly owned subsidiary of Public Storage (“Merger Sub I”),\nand Pelican Merger Sub II, LLC, a Delaware limited liability company and a wholly owned subsidiary of PSA OP (“Merger Sub II”).\nCapitalized terms used but not defined herein have the meanings ascribed to them in the Merger Agreement.\n\n \n\nIn connection with the completion of the transactions\ncontemplated by the Merger Agreement, (i) NSA OP consummated the Dropdown JV Contribution pursuant to the Dropdown JV Contribution\nAgreement, (ii) following the consummation of the Dropdown JV Contribution, NSA merged with and into Merger Sub I, with Merger Sub\nI continuing as the surviving company (the “Company Merger”), (iii) following the consummation of the Company Merger,\nthe Dropdown JV Financing was consummated as contemplated therein, (iv) following the consummation of the transactions described\nin (i), (ii) and (iii) above, the redemption of Class A OP Units of NSA OP (the “NSA OP Units”) pursuant to\nthe Special Redemption was consummated immediately prior to the effective time of the Partnership Merger (the “Partnership Merger\nEffective Time”), and (v) Merger Sub II merged with and into NSA OP, with NSA OP continuing as the surviving limited partnership\n(the “Partnership Merger” and, together with the Company Merger, the “Mergers”)."}