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LIFE STORAGE, INC. : Change in Directors or Principal Officers, Regulation FD Disclosure, Financial Statements and Exhibits (form 8-K)

09/02/2021 | 05:23pm EDT

Item 5.02 Departure of Directors or Certain Officers; Election of Directors;

Appointment of Certain Officers; Compensatory Arrangements of Certain


On September 2, 2021, Life Storage, Inc. (the "Company") announced that Edward
F. Killeen, the Chief Operating Officer of the Company, will retire effective
December 31, 2021 and that David Dodman, the Company's current Senior Vice
President, Strategic Planning and Investor Relations, will succeed Mr. Killeen
as Chief Operating Officer of the Company effective upon Mr. Killeen's
In connection with Mr. Killeen's retirement as Chief Operating Officer, the
Company and Mr. Killeen entered into a Separation Agreement. Pursuant to the
Separation Agreement, Mr. Killeen will continue as an employee of the Company
through the end of 2021. He will remain eligible for a bonus, if any, under the
Company's annual incentive compensation plan for 2021 service and the
performance metrics of such plan, vest in certain restricted stock and be
entitled to a
portion of shares under previously issued performance-based share awards at the
end of the applicable performance period. As a result of this event, the Company
currently estimates that it will incur charges of approximately $155,000 in the
third quarter of 2021 and approximately $465,000 in the fourth quarter of
2021. The Separation Agreement is included herein as Exhibit 10.1, which exhibit
is incorporated by reference.
Mr. Dodman, age 48, has served as Senior Vice President, Strategic Planning and
Investor Relations with the Company since June 2018. Prior to joining the
Company, Mr. Dodman held various corporate strategy, mergers and acquisitions,
and operational roles at KeyCorp, First Niagara Financial Group, Inc. and
Lockheed Martin Corporation. He also worked in the Corporate Finance/Investment
Banking departments of Legg Mason, Inc. and Stifel Financial Corp. after earning
an MBA from the University of Maryland and BA from Loyola University Maryland.

Item 7.01 Regulation FD Disclosure.

On September 2, 2021, the Company issued a press release with respect to the
matters set forth herein, a copy of which press release is furnished as Exhibit
99.1 to this Report on
Form 8-K.
The information in this Item 7.01 and in Exhibit 99.1 attached hereto is
intended to be furnished and shall not be deemed "filed" for purposes of
Section 18 of the Securities Exchange Act of 1934 (the "Exchange Act") or
otherwise subject to the liabilities of that section, nor shall it be deemed
incorporated by reference in any filing under the Securities Act of 1933 or the
Exchange Act, except as expressly set forth by specific reference in such

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits

Exhibit No.                                  Description

10.1                Separation Agreement by and among Life Storage, Inc., Life
                  Storage LP and Edward F. Killeen, dated September 2, 2021

99.1                Press Release issued on September 2, 2021

104               Cover Page Interactive Data File (embedded within the Inline XBRL


© Edgar Online, source Glimpses

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