{"schema_version":"secwatch.filing_event.v1","accession":"0001104659-26-085888","form_type":"8-K","ticker":"NSA","cik":"0001618563","company_name":"National Storage Affiliates Trust","filed_at":"2026-07-22T21:14:59+00:00","discovered_at":"2026-07-22T21:16:00.319156+00:00","generated_at":"2026-07-22T21:16:22.114579+00:00","sec_items":["1.02","2.01","5.01","5.02","3.01","3.03","5.03","9.01","1.01"],"event_type":"m_and_a","sentiment":"neutral","materiality_score":1.0,"calibrated_materiality_score":1.0,"confidence":"high","headline":"Public Storage completes acquisition of National Storage Affiliates Trust; NSA shares delisted","bullets":["Public Storage issued ~11.2M common shares, 9.57M Series T preferred, and 5.67M Series U preferred to former NSA holders.","NSA common shares converted at 0.1400 Public Storage common shares per share; NSA preferred shares converted to new PSA series.","Dropdown JV formed with 313 assets valued at ~$3.2B; incurred ~$2.2B in debt from Goldman Sachs and Wells Fargo.","All NSA board members and officers resigned; named executive officers terminated without cause, triggering severance.","NSA's credit agreements with KeyBank, Capital One, BMO, and Huntington terminated without material penalties."],"urls":{"canonical":"https://secwatch.observer/filing/0001104659-26-085888","json":"https://secwatch.observer/filing/0001104659-26-085888.json","markdown":"https://secwatch.observer/filing/0001104659-26-085888.md","text":"https://secwatch.observer/filing/0001104659-26-085888.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1618563/000110465926085888/0001104659-26-085888-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1618563/000110465926085888/tm2620871d8_8k.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-07-22T21:16:22.114579+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}