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

Appointment of Certain Officers; Compensatory Arrangements of Certain

Officers.

On December 18, 2020, Life Storage, Inc. (the "Company"), through action of the Compensation Committee of the Company's Board of Directors (the "Committee"), made incentive awards to the Company's Chief Executive Officer, Chief Financial Officer and Chief Operating Officer by grant of restricted stock awards and performance-based awards under the terms of the Company's 2015 Award and Option Plan. The restricted stock grants consist of long term incentive restricted stock awards vesting over a five year period. The performance-based awards grant an award payable in shares of common stock of the Company based upon the Company's relative total shareholder return over a three year period as compared to a defined peer group. If threshold performance is not achieved, no shares will be awarded. Provided threshold performance is achieved, an applicable percentage of the target number of shares between 25% and 200% will be awarded, with 25% of the target number of shares being awarded if threshold performance is achieved, 100% of the target number of shares being awarded if target performance is achieved and 200% of the target number of shares being awarded if maximum performance is achieved. Details of awards made to each officer are set forth below:



                                                       Long Term               Target Number

                                                  Incentive Restricted        of Performance

                                                      Stock Awards                Shares
Officer                                                    1                         2
Joseph Saffire, Chief

Executive Officer                                         12,203 shares         12,203 shares
Andrew J. Gregoire, Chief Financial Officer                3,787 shares          3,787 shares
Edward F. Killeen, Chief Operating Officer                        3,787

                                                                 shares          3,787 shares



(1) Vest over 5 years.

(2) No shares will be awarded if threshold performance is not achieved. Provided


    threshold performance is achieved, an applicable percentage of the target
    number between 25% and 200% will be awarded, with 25% of the target number of
    shares being awarded upon threshold performance, 100% of the target number of
    shares being awarded upon target performance and 200% of the target number of
    shares being awarded upon maximum performance.


The foregoing description of the long term incentive restricted stock awards and
the performance-based awards are qualified in their entirety by the terms of the
forms of Long Term Incentive Restricted Stock Award Notice and Performance-Based
Award Notice, which are filed as Exhibits 10.1 and 10.2 to this Current Report
on Form
8-K,
respectively, which exhibits are incorporated herein by reference.
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Item 9.01. Financial Statements and Exhibits.




(d) Exhibits

Exhibit No.       Description

10.1                Form of Long Term Incentive Restricted Stock Award Notice

10.2                Form of Performance-Based Award Notice

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

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