PAPA CHRISTOPHER J 4
4 · AMERICOLD REALTY TRUST · Filed Mar 10, 2026
Research Summary
AI-generated summary of this filing
Americold (COLD) CFO Christopher Papa Receives Equity Awards
What Happened
- Christopher J. Papa, Chief Financial Officer of Americold Realty Trust (COLD), received two grants of derivative equity on March 8, 2026: 54,357 OP Profits Units and 81,535 Performance OP Profits Units, for a total of 135,892 units. The Form 4 reports an acquisition price of $0.00 for each (award/grant classification).
- These are equity-based awards, not open-market purchases or sales, so they are not an immediate cash investment or divestment by the insider.
Key Details
- Transaction date: 2026-03-08; Form 4 filed: 2026-03-10 (file appears timely).
- Reported consideration: $0.00 (grant/award).
- Shares owned after transaction: not specified in the filing.
- Footnotes:
- F1: The 54,357 OP Profits Units vest ratably on March 8, 2027, 2028 and 2029 and were issued under the Americold 2017 Equity Incentive Plan.
- F3: The 81,535 Performance OP Profits Units vest only if pre-established AFFO (adjusted funds from operations) goals are met for Jan 1, 2026–Dec 31, 2028; payout is contingent on performance.
- F2 & F4: Upon vesting (and satisfying certain tax allocation conditions), both types of OP Profits Units can be converted by the holder into common units of the operating partnership and those common units may be redeemed for cash equal to the then fair market value of a share of Americold common stock (or converted into one share at the company’s election). Conversion/redeem rights have no expiration.
- Plan: Awards issued pursuant to the Amended and Restated Americold Realty Trust 2017 Equity Incentive Plan.
Context
- These are derivative equity awards with multi-year vesting and, for a portion, performance-based vesting tied to AFFO over a three-year period. They are not exercises or open-market trades and do not reflect an immediate cash inflow or outflow for the insider.
- Because the units convert to partnership/common units and can be redeemed for cash or shares, the ultimate economic value of the awards will depend on future vesting outcomes and Americold’s stock price at conversion/redemption.
Insider Transaction Report
Form 4
PAPA CHRISTOPHER J
Chief Financial Officer
Transactions
- Award
Operating Partnership Profits Units
[F1][F2]2026-03-08+54,357→ 54,357 totalExercise: $0.00→ Common Stock (54,357 underlying) - Award
Performance OP Profits Units
[F3][F4]2026-03-08+81,535→ 81,535 totalExercise: $0.00→ Common Stock (81,535 underlying)
Footnotes (4)
- [F1]Represents OP Profits Units ("OP Profits Units") of Americold Realty Operating Partnership, L.P. ("Operating Partnership"), which will vest ratably on March 8, 2027, 2028, and 2029. 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.
- [F3]Represents performance-based OP Profits Units ("Performance OP Profits Units") of the Operating Partnership. Payout of the Performance OP Profits Units will be determined based upon the Company's adjusted funds from operations ("AFFO") during the applicable period Jan. 1, 2026 - Dec. 31, 2028). The Performance OP Profits Units will vest, if at all, at the end of the 3-year period contingent upon the achievement of the pre-established AFFO goals. The Performance OP Units were issued to the Reporting Peron pursuant to the Amended and Restated Americold Realty Trust 2017 Equity Plan.
- [F4]Conditioned upon minimum allocations to the capital accounts of the Performance OP Profits Units for federal income tax purposes, each vested Performance 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 Performance OP Profits Unit may be presented for redemption, at the election of the holder, for cash equal to the then fair market value of the Company's Common Stock, except that the Company may, at its election, acquire each Common Unit so presented for one Common Share. The rights to convert vested Performance OP Profits Units into Common Units and redeem Common Units have no expiration dates.
Signature
/s/ Nathan H. Harwell, Attorney-in-fact|2026-03-10