Business Context and Reporting Period
This Form 8-K is a current report filed by Strategic Storage Trust II, Inc. (the Registrant) on April 6, 2017, covering events occurring on March 31, 2017, and April 4, 2017. The filing addresses corporate governance changes regarding the Board of Directors.
Financial Metrics
The filing text does not provide a clear value for revenue, profit, cash flow, margins, debt, or liquidity. This report focuses exclusively on personnel and governance matters.
Material Changes
- Director Resignation: William H. Brownfield resigned on March 31, 2017, from his positions as an independent director and member of the Nominating and Corporate Governance Committee, Audit Committee, and Chairman of the Compensation Committee.
- Reason for Departure: The resignation was not the result of any disagreement with the Registrant regarding operations, policies, or practices.
- Board Size Reduction: On April 4, 2017, the Board decreased its size from six directors to five directors.
- Committee Appointment: On April 4, 2017, Timothy S. Morris was appointed as the new Chairman of the Compensation Committee to fill the vacancy left by Mr. Brownfield.
Guidance, Outlook, and Risks
The filing contains no financial guidance, outlook, management commentary on operations, or discussion of risks and contingencies. The only unusual item noted is the reduction in Board size and the change in committee leadership.
Key Facts for Investor Verification
- Confirm the current composition of the Board of Directors and committee memberships following the April 4, 2017 changes.
- Verify that the resignation of William H. Brownfield did not signal undisclosed operational issues, as explicitly stated in the filing.
- Check subsequent filings to ensure the Board size remains at five directors or if further changes were made.