Harwell Nathan H 4

What Happened

• Nathan H. Harwell, Chief Legal & People Officer of Americold Realty Trust (COLD), received two equity-based awards on March 8, 2026 totaling 71,942 OP Profits Units (28,777 and 43,165 units). The reported acquisition price is $0.00 because these are compensation awards (derivative securities), not open-market purchases or sales.
• The 28,777 units are time-based OP Profits Units that vest ratably on March 8 of 2027, 2028 and 2029. The 43,165 units are performance-based OP Profits Units whose payout and vesting are contingent on the company’s adjusted funds from operations (AFFO) for the period Jan 1, 2026–Dec 31, 2028.

Key Details

• Transaction date: 2026-03-08; Form 4 filed: 2026-03-10 (appears timely).
• Reported price: $0.00 (award/derivative, code A).
• Total units granted: 71,942 OP Profits Units (28,777 time-based; 43,165 performance-based).
• Shares owned after transaction: not specified in the Form 4 provided.
• Conversion/ redemption: Vested OP Profits Units may be converted into common units of the operating partnership, which can be redeemed for cash equal to the fair market value of a share of Americold common stock or, at the company’s election, exchanged for one share of common stock. Conversion/redemption rights have no expiration dates.
• Tax condition: Conversion/redemption rights are conditioned on minimum capital account allocations for federal income tax purposes.

Context

• These awards are typical long-term incentive compensation designed to retain executives and align pay with company performance; they are not immediate purchases or sales and do not generate immediate cash proceeds for the holder.
• The performance tranche vests only if AFFO goals for 2026–2028 are met; the time tranche vests ratably over three years. Such derivative/unit grants are routine and reflect compensation structure rather than a direct signal to buy or sell stock.