Harold “Skip” Perry
About Harold “Skip” Perry
Harold “Skip” Perry (age 78) is SmartStop Self Storage REIT’s lead independent director since April 2022 and currently chairs the Nominating & Corporate Governance Committee; he also serves on the Audit and Compensation Committees . He previously served as an SMA independent director (Oct 2013–Jun 2014) and as an independent director of SmartStop Self Storage, Inc. until its merger with Extra Space Storage on Oct 1, 2015; Perry holds a BA in Russian and Economics (University of Illinois) and an MBA in finance (Loyola University, IL), and is a CPA with MAI and CRE designations .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Alvarez & Marsal Real Estate Advisory Services | Managing Director | Jun 2009–Mar 2011 | Led advisory on complex transactions and portfolio optimization |
| Ernst & Young LLP (Transactional Real Estate Advisory Services) | National Partner; leadership roles | 1995–Jun 2007 | Led acquisition/disposition due diligence; portfolio optimization; capital markets monetization; valuation of self storage facilities |
| Kenneth Leventhal & Co. (Chicago) | Head, Real Estate Consulting Practice | Pre-1995 | Led real estate consulting engagements |
| Pannell Kerr Forster | Senior Principal | Pre-1995 | Hospitality-focused accounting/consulting |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| Real Globe Advisors, LLC | Executive Managing Director (Founder) | 2007–2009; current | Commercial real estate advisory; founder and current executive managing director |
Board Governance
- Board composition: CEO/Chair plus four independent directors; Perry is lead independent director .
- Committee assignments:
- Nominating & Corporate Governance (Chair): 4 meetings in 2024
- Audit (Member): 5 meetings in 2024; cybersecurity oversight with quarterly updates
- Compensation (Member): 4 meetings in 2024
- Independence: Board determined Perry is independent under NYSE/SEC rules .
- Attendance: Board held 11 meetings in 2024; each director attended at least 75% of Board and committee meetings .
- Lead independent responsibilities: Presides over independent director executive sessions; calls meetings/sets agendas; liaison to Chair/CEO; leads CEO/Chair evaluation; may respond to stockholder inquiries .
- Stockholder communications: Governance/ethics concerns routed to Lead Independent Director via Secretary .
Fixed Compensation
| Component (2024) | Amount ($) | Notes |
|---|---|---|
| Director annual cash retainer | 62,500 | Standard cash retainer |
| Lead Independent Director supplement | 10,000 | Role supplement |
| Nominating & Corporate Governance Chair | 15,000 | Chair supplement |
| Audit Committee member (non-chair) | 10,000 | Member supplement |
| Compensation Committee member (non-chair) | 7,500 | Member supplement |
| Per-meeting fees beyond 10 meetings | 1,500 | Board met 11 times; fee per meeting thereafter |
| Cash fees earned (total) | 106,500 | Reported for Perry |
| All other compensation | 245 | Life insurance premium paid by company |
Performance Compensation
| Equity Award Type | Grant Value ($) | Vesting | Notes |
|---|---|---|---|
| Annual director equity grant | 80,000 | Vests 1 year from re-election | Standard for non-employee directors |
No performance metrics or PSU structures are disclosed for director equity grants; awards are time-based under the Equity Incentive Plan .
Other Directorships & Interlocks
| Company/Organization | Role | Period | Interlocks/Notes |
|---|---|---|---|
| SmartStop Self Storage, Inc. | Independent Director | Feb 2008–Oct 1, 2015 | Company merged with Extra Space Storage on Oct 1, 2015 |
| SmartStop Self Storage REIT, Inc. (SMA) | Independent Director | Oct 2013–Jun 2014; current | Lead Independent Director since Apr 2022 |
No current other public company directorships disclosed; no disclosed interlocks with competitors/suppliers/customers beyond industry advisory history .
Expertise & Qualifications
- Credentials: CPA; MAI (Appraisal Institute); CRE (Counselors of Real Estate) .
- Education: BA in Russian and Economics (University of Illinois); MBA in Finance (Loyola University Chicago) .
- Domain expertise: 50+ years in real estate finance, accounting and consulting; extensive due diligence, portfolio optimization, and valuation experience including self storage .
Equity Ownership
| Holder | Shares Owned Directly | Shares Issuable on Conversion/Exchange | Total Beneficial Ownership | % of Outstanding |
|---|---|---|---|---|
| Harold “Skip” Perry | 12,657 | 1,504 | 14,161 | <1% |
| Equity Detail (as of 12/31/2024) | Count |
|---|---|
| Total director restricted stock/LTIP units awarded to Perry (cumulative) | 11,197 |
| Vested | 9,721 |
| Unvested | 1,476 |
No pledging or hedging disclosures specific to Perry; the company states it does not have a hedging policy for officers, employees, and directors at this time (governance risk) .
Governance Assessment
- Positive signals:
- Independent director with robust governance roles: Lead Independent Director; Chair of Nominating & Corporate Governance; member of Audit and Compensation committees—strong involvement in board oversight and conflicts review .
- Clear committee activity and risk oversight: Audit Committee oversees cybersecurity with quarterly management reports; Nominating & Governance reviews conflicts and board evaluations annually .
- Director equity participation and ownership guidelines: Annual $80,000 equity grant; stock ownership policy adopted Apr 1, 2025 requires non-employee directors to hold equity equal to 5× annual cash retainer within 5 years (alignment incentive) .
- Compensation Committee independence and use of external consultant (Ferguson Partners); no compensation committee interlocks or related-party ties disclosed for committee members .
- Risks/Red flags:
- No hedging policy for directors/officers, which can weaken alignment safeguards versus best practice .
- Related-party exposure persists through legacy ties with SAM and affiliates (e.g., Administrative Services Agreement reimbursements; former transfer agent transition fee), requiring vigilant conflicts oversight by the committee Perry chairs .
- Change-of-control excise tax gross-up exists in NEO severance plan until listing; upon public listing (offering closed Apr 3, 2025), plan indicates gross-up termination prospectively—monitor implementation .
- Attendance disclosure only confirms ≥75% threshold rather than 100%—watch for consistent full engagement .
Overall, Perry’s governance footprint is strong—he anchors independence as Lead Independent Director, chairs conflicts oversight, and participates in audit and compensation oversight. The main watchpoints are the company’s absence of a hedging policy and ongoing related-party transactions, both mitigated by his committee’s formal conflict review and the board’s governance framework .