Smartstop Self Storage REIT, Inc. current report, 27 January 2016

Full document

Business Context and Reporting Period

This Form 8-K was filed by Strategic Storage Trust II, Inc. on January 27, 2016. The filing reports corporate governance changes, specifically the expansion of the Board of Directors and the appointment of new officers and directors.

Key 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

  • Board Expansion: The Board of Directors increased its size from three to six directors.
  • New Appointments: Timothy S. Morris, Harold "Skip" Perry, and Paula Mathews were appointed to the newly created director positions.
  • Committee Assignments:
    • Mr. Perry was appointed to the audit committee and the nominating and corporate governance committee.
    • Mr. Morris was appointed to the compensation committee and the nominating and corporate governance committee.
  • Expert Designation: The Board determined Mr. Perry qualifies as an "audit committee financial expert."

Management Commentary and Background

The filing details the professional backgrounds of the new appointees:

  • Timothy S. Morris: Over 30 years of financial and management experience. Previously served as an independent director of SmartStop Self Storage, Inc. until its merger with Extra Space Storage, Inc. in October 2015. Holds an MBA and is a Chartered Management Accountant.
  • Harold "Skip" Perry: Over 40 years of experience in real estate finance and consulting. Founder of Real Globe Advisors, LLC. Previously served as an independent director of SmartStop and the Registrant. Holds a CPA, MAI, and CRE designation.
  • Paula Mathews: Appointed as a director while continuing to serve as Executive Vice President and Secretary of the Registrant.

Investor Verification Checklist

  • Verify the effective date of the new board composition and committee memberships.
  • Confirm the independence status of Messrs. Morris and Perry as disclosed.
  • Review the full biographies of the new directors for potential conflicts of interest or prior regulatory issues.
  • Check subsequent filings for any changes to the board structure or additional appointments.