March 16, 2020 - Nordhagen Arlen Dale - 4: Statement of changes in beneficial ownership of securities

FORM 4

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:

3235-0287

Estimated average burden hours per response...

0.5

(Print or Type Responses)

1. Name and Address of Reporting Person ^*

Nordhagen Arlen Dale

2. Issuer Name and Ticker or Trading Symbol
National Storage Affiliates Trust [NSA]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

__X__ Director	_____ 10% Owner
__X__ Officer (give title below)	_____ Other (specify below)
Executive Chairman

(Last)

(First)

(Middle)

C/O NATIONAL STORAGE AFFILIATES TRUST, 8400 EAST PRENTICE AVENUE, 9TH FLOOR

3. Date of Earliest Transaction (Month/Day/Year)
03/12/2020

(Street)

GREENWOOD VILLAGE, CO 80111

4. If Amendment, Date Original Filed(Month/Day/Year)

6. Individual or Joint/Group Filing(Check Applicable Line)
_X_ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person

(City)

(State)

(Zip)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned

1.Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
1.Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Series A preferred shares	03/12/2020		P		4,000 ⁽¹⁾	A	$ 24.34 ⁽²⁾	8,000 ⁽³⁾	I	See Footnotes ⁽¹⁾ ⁽⁴⁾
Common shares of beneficial interest, $0.01 par value	03/12/2020		P		20,000 ⁽¹⁾	A	$ 29.67 ⁽⁵⁾	166,497 ⁽³⁾	I	See Footnotes ⁽¹⁾ ⁽⁴⁾
Series A preferred shares	03/13/2020		P		4,000 ⁽¹⁾	A	$ 24.65 ⁽⁶⁾	12,000 ⁽³⁾	I	See Footnotes ⁽¹⁾ ⁽⁴⁾
Common shares of beneficial interest, $0.01 par value	03/16/2020		P		30,000 ⁽¹⁾	A	$ 26.2 ⁽⁷⁾	196,497 ⁽³⁾	I	See Footnotes ⁽¹⁾ ⁽⁴⁾

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
	Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number.		SEC 1474 (9-02)

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)

1. Title of Derivative Security
(Instr. 3)

2. Conversion or Exercise Price of Derivative Security

3. Transaction Date (Month/Day/Year)

3A. Deemed Execution Date, if any (Month/Day/Year)

4. Transaction Code
(Instr. 8)

5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4, and 5)

6. Date Exercisable and Expiration Date
(Month/Day/Year)

7. Title and Amount of Underlying Securities
(Instr. 3 and 4)

8. Price of Derivative Security
(Instr. 5)

9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 4)

10. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 4)

11. Nature of Indirect Beneficial Ownership
(Instr. 4)

Code

(A)

(D)

Date Exercisable

Expiration Date

Title

Amount or Number of Shares

Reporting Owners

Reporting Owner Name / Address	Relationships
Reporting Owner Name / Address	Director	10% Owner	Officer	Other
Nordhagen Arlen Dale C/O NATIONAL STORAGE AFFILIATES TRUST 8400 EAST PRENTICE AVENUE, 9TH FLOOR GREENWOOD VILLAGE, CO 80111	X		Executive Chairman

Signatures

Arlen Dale Nordhagen, by Jason Parsont, his Attorney-in-fact		03/16/2020
^**Signature of Reporting Person		Date

Explanation of Responses:

*	If the form is filed by more than one reporting person, see Instruction 4(b)(v).
**	Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1)	Represents 6.000% Series A Cumulative Redeemable Preferred Shares of Beneficial Interest, $0.01 par value ("Series A Preferred Shares") and common shares of beneficial interest, $0.01 par value ("Common Shares"), as applicable, purchased in the open market, which were acquired by Nordhagen LLLP, for which the Reporting Person has or shares voting and/or investment power.
(2)	The price reported in Column 4 is a weighted average price. The Series A Preferred Shares were purchased in multiple transactions on March 12 ranging from $23.29 to $24.80, inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of Series A Preferred Shares and Common Shares purchased at each separate price within the range set forth in footnotes (5), (6) and (7).
(3)	The Reporting Person's total direct and indirect beneficial ownership following each of the reported transactions is 12,000 Series A Preferred Shares and 196,497 Common Shares. The 12,000 Series A Preferred Shares and 196,497 Common Shares do not include other classes of non-derivative securities or derivative securities of the Reporting Person that have been reported on the Reporting Person's Forms 3 and Forms 4.
(4)	This filing shall not be deemed to be an admission that the Reporting Person is the beneficial owner of any of the securities reported herein, and the Reporting Person disclaims beneficial ownership of such securities except to the extent of the Reporting Person's pecuniary interest therein.
(5)	The price reported in Column 4 is a weighted average price. The Common Shares were purchased in multiple transactions on March 12 ranging from $29.32 to $30.02, inclusive.
(6)	The price reported in Column 4 is a weighted average price. The Series A Preferred Shares were purchased in multiple transactions on March 13 ranging from $24.48 to $24.80, inclusive.
(7)	The price reported in Column 4 is a weighted average price. The Common Shares were purchased in multiple transactions on March 16 ranging from $25.86 to $26.25, inclusive.

Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.

Potential persons who are to respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB number.