Steven Osgood
About Steven G. Osgood
Independent trustee of NSA since 2015; age 68 as of March 28, 2025. Former CPA with 30+ years across self storage, data centers, towers, and real estate finance; MBA (University of San Diego) and BS (Miami University). Currently chairs NSA’s Finance Committee and serves on the Audit Committee, designated an SEC “audit committee financial expert.” Determined independent by the Board in 2024 and 2025; Board met six times in 2024 and all trustees attended at least 75% of meetings .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Square Foot Companies, LLC | Chief Executive Officer | 2008–Present | Private real estate; single-tenant properties |
| Georgetown University | Adjunct Professor | 2024–Present | Teaching role |
| DuPont Fabros Technology, Inc. | Chief Financial Officer | 2007–2008 | Data center REIT; merged into DLR in 2017 |
| Global Signal, Inc. | Chief Financial Officer | 2006–2007 | Cell tower REIT; acquired by Crown Castle in 2007 |
| U-Store-It Trust (now CubeSmart) | President & Chief Financial Officer | 2004–2006 | Self storage REIT leadership |
| The Amsdell Companies | Chief Financial Officer | 1993–2004 | Predecessor to U-Store-It |
| Deloitte | Audit Staff | 1978–1982 | Public accounting foundation |
External Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| HA Sustainable Infrastructure Capital, Inc. (NYSE: HASI) | Director; Audit Committee Chair; Compensation Committee Member | Current | Oversees financial reporting; comp oversight |
| Alzheimer’s Impact Movement | Director | Current | Advocacy/nonprofit board service |
Board Governance
- Committee assignments:
- Finance Committee: Chair; 4 meetings in 2024; all members independent .
- Audit Committee: Member; 8 meetings in 2024; designated audit committee financial expert .
- Independence: Affirmatively determined independent in 2024 and 2025 .
- Attendance: Board held six meetings in 2024; all trustees ≥75% attendance; Audit (8), CNCG (6), Finance (4) meetings were held in 2024 .
- 2025 election vote outcome (signal of investor support):
Item Votes For Votes Against Abstain Broker Non-Votes Re-election of Steven G. Osgood 64,653,190 688,580 97,075 4,516,322
Fixed Compensation
- 2024 Independent trustee pay program: Base cash $60,000; equity $100,000; audit member $10,000; finance chair $20,000; election to receive 50–100% of cash in equity permitted; 2025 increases: base $70,000, equity $120,000, audit member $12,500 .
- Osgood’s 2024 compensation:
Component Amount Fees Paid or Earned in Cash $90,000 Stock Awards $100,000 Total $190,000 - Equity form: LTIP units; Osgood elected to receive 100% of annual cash compensation in LTIP units (5,022 units granted for 2024), scheduled to vest on or before May 16, 2025 .
Performance Compensation
- NSA does not disclose performance metrics tied to director compensation; independent trustee equity is time-based LTIP units rather than performance-conditioned awards .
- Osgood LTIP units and vesting:
Grant/Status Units Vesting Date/Terms 2024 annual compensation LTIP grant 5,022 Scheduled to vest May 16, 2025 (or day before 2025 AGM), contingent on service Unvested LTIP units outstanding (12/31/2024) 5,022 As above Vested LTIP units 8,955 Currently vested
Other Directorships & Interlocks
| Company | Industry Relation to NSA | Potential Interlock/Conflict Note |
|---|---|---|
| HASI (NYSE: HASI) | Sustainable infrastructure finance; not a self storage competitor | No NSA-related party transactions disclosed involving Osgood; serves as audit chair and comp committee member at HASI . |
| Alzheimer’s Impact Movement | Nonprofit | No related-party transactions disclosed . |
Expertise & Qualifications
- Former CPA; MBA (University of San Diego); BS (Miami University) .
- Deep sector experience: self storage, REIT finance, capital markets, and operations; designated Audit Committee financial expert at NSA .
Equity Ownership
| Holding Category (as of March 14, 2025) | Quantity | Notes |
|---|---|---|
| Total beneficial ownership (Common Shares equivalent) | 136,058 | <1% of shares outstanding (“*”) |
| OP units (Operating Partnership) | 122,081 | Convertible/exchangeable 1:1 into Common |
| Vested LTIP units | 8,955 | Included in beneficial ownership |
| Unvested LTIP units | 5,022 | Scheduled to vest May 16, 2025 |
| Shares pledged as collateral | None disclosed for Osgood (pledging disclosed for certain other trustees/executives) | |
| Ownership guideline compliance | Company states all independent trustees complied as of March 14, 2025; guideline is 5x annual cash compensation, excludes pledged securities | |
| Hedging/Pledging policy | Hedging prohibited; pledging limited for trustees (≤50% of holdings or ≤2.5% of outstanding shares without Board approval) |
Governance Assessment
- Board effectiveness: Osgood’s dual roles (Finance Committee Chair; Audit Committee member and financial expert) strengthen capital allocation oversight, risk management and financial reporting accountability .
- Independence & attendance: Affirmed independent; Board and committee workloads were robust in 2024; minimum attendance thresholds met across trustees .
- Alignment & incentives: Director equity paid via LTIP units with service-based vesting; Osgood elected 100% equity for annual cash compensation—positive alignment signal .
- Investor confidence signals: Strong 2025 re-election support (64.65M For vs. 0.69M Against); Say-on-Pay passed with 60.93M For .
- Conflicts/related parties: No related-party transactions disclosed involving Osgood; company-wide prohibitions/limits on hedging and pledging mitigate misalignment risks .
- RED FLAGS: None disclosed specific to Osgood; no pledging noted; no related-party dealings reported; director equity not performance-conditioned but standard for boards .
Additional context: NSA’s independent trustee pay program increases in 2025 (base cash to $70k, equity to $120k, audit member fee to $12.5k), which modestly raises guaranteed components but retains equity-heavy mix; continue monitoring equity vs. cash mix elections for alignment and any changes to committee fee differentials .