PAPA CHRISTOPHER J 4

4 · AMERICOLD REALTY TRUST · Filed Feb 24, 2026

AI-generated summary of this filing

Updated Feb 24, 2026

Americold (COLD) CFO Christopher Papa Receives 187,970-Unit Award

What Happened

Christopher J. Papa, Chief Financial Officer of Americold Realty Trust (COLD), received a grant of 187,970 OP Profits Units (a derivative equity award) on February 23, 2026. The units were issued at $0 per unit (no cash paid).
This is an equity award (not a purchase or sale). The filing reports the grant but does not state a market dollar value for the award.

Key Details

Transaction date: 2026-02-23; Form 4 filed: 2026-02-24 (timely filing).
Award: 187,970 OP Profits Units issued at $0 per unit.
Vesting: 50% vests on the one-year anniversary of the grant date (Feb 23, 2027) and 50% vests on the second anniversary (Feb 23, 2028).
Shares owned after transaction: not disclosed in the supplied excerpt.
Footnotes: F1 describes the two-year, ratable vesting schedule; F2 explains that vested OP Profits Units can be converted into common units of the Operating Partnership and those common units may be redeemed for cash equal to the fair market value of a share of the company or exchanged for one share of common stock at the company's election. Conversion/redemption rights have no expiration.

Context

OP Profits Units are a form of deferred/derivative compensation tied to the Operating Partnership, commonly used in REIT/partnership structures; they are not immediate open-market purchases and do not by themselves indicate the insider is buying or selling stock.
Because the units were granted (awarded) and vest over time, their economic value to the insider depends on future vesting and any future conversion/redemption elections.

Form 4

Period: 2026-02-23

Chief Financial Officer

Transactions

Award
Operating Partnership Profits Units
[F1][F2]
2026-02-23+187,970→ 187,970 total
→ Common Stock (187,970 underlying)

Footnotes (2)

[F1]Represents OP Profits Units ("OP Profits Units") of Americold Realty Operating Partnership, L.P. ("Operating Partnership"), which vest ratably over a two-year period, with 50% vesting on the one-year anniversary of February 23, 2026 (the "Grant Date"), and 50% vesting on the second anniversary of the Grant Date. The OP Profits Units were issued to the reporting person pursuant to the Amended and Restated Americold Realty Trust 2017 Equity Incentive Plan.
[F2]Conditioned upon minimum allocations to the capital accounts of the OP Profits Units for federal income tax purposes, each vested OP Profits Unit may be converted, at the election of the holder, into a common unit of limited partnership interest in the Operating Partnership (a "Common Unit"). Each Common Unit acquired upon conversion of a vested OP Profits Unit may, at the election of the holder, be presented for redemption for cash equal to the then fair market value of a share of Americold Realty Trust, Inc. (the "Company") common stock (the "Common Stock"), except that the Company may, at its election, acquire each Common Unit so presented for one share of Common Stock. The rights to convert vested OP Profits Units into Common Units and redeem Common Units have no expiration dates.

Signature

/s/ Nathan H. Harwell, Attorney-in-fact|2026-02-24

1 file