Americold Realty Trust (NYSE: COLD) grants OP and performance units
Rhea-AI Filing Summary
Americold Realty Trust President, Americas Michael Bryan Verbarendse received equity-based awards in the form of Operating Partnership Profits Units. He was granted 44764 OP Profits Units that vest ratably on March 8 of 2027, 2028, and 2029 under the company’s 2017 Equity Incentive Plan.
He was also granted 67146 performance-based OP Profits Units. These may vest, if at all, after the three-year period from January 1, 2026 through December 31, 2028, based on adjusted funds from operations goals. Once vested and subject to tax allocation conditions, each unit can be converted into Operating Partnership common units and then redeemed for cash or one share of Americold common stock, with no expiration on these conversion and redemption rights.
Positive
- None.
Negative
- None.
Insider Trade Summary
2 transactions reported
Mixed
2 txns
Insider
Verbarendse Michael Bryan
Role
President, Americas
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Operating Partnership Profits Units | 44,764 | $0.00 | $0.00 |
| Grant/Award | Performance OP Profits Units | 67,146 | $0.00 | $0.00 |
Holdings After Transaction:
Operating Partnership Profits Units — 44,764 shares (Direct);
Performance OP Profits Units — 67,146 shares (Direct)
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.
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FAQ
What insider transactions did AMERICOLD REALTY TRUST (COLD) report for Michael Bryan Verbarendse?
The filing shows Michael Bryan Verbarendse received grants of OP Profits Units, not open-market trades. He was awarded 44764 time-vested OP Profits Units and 67146 performance-based OP Profits Units as part of Americold’s 2017 Equity Incentive Plan.
How do the 44764 OP Profits Units granted to COLD’s President, Americas vest?
The 44764 OP Profits Units vest in three equal installments on March 8, 2027, March 8, 2028, and March 8, 2029. These units were issued under Americold Realty Trust’s Amended and Restated 2017 Equity Incentive Plan as part of long-term compensation.
What performance conditions apply to the 67146 Performance OP Profits Units at AMERICOLD REALTY TRUST (COLD)?
The 67146 Performance OP Profits Units vest, if at all, based on adjusted funds from operations over January 1, 2026 to December 31, 2028. Vesting occurs only if pre-established AFFO goals are achieved at the end of this three-year performance period.
Can the OP Profits Units granted to COLD’s executive be converted into common stock?
Once vested and subject to minimum tax capital allocations, each OP Profits Unit may be converted into a common unit of the Operating Partnership. Each common unit can then be redeemed for cash equal to the fair market value of one Americold share, or one share at the company’s election.
Do the conversion and redemption rights on COLD’s OP Profits Units have an expiration date?
The rights to convert vested OP Profits Units and Performance OP Profits Units into Operating Partnership common units and to redeem those units for cash or Americold common stock have no stated expiration dates. These rights continue as long as the units remain outstanding and vested.
Are the COLD Form 4 transactions open-market buys or sales of common stock?
No, the Form 4 reports grants of derivative securities rather than open-market trades. The awards are OP Profits Units and Performance OP Profits Units that may later convert into Operating Partnership common units and then into cash or Americold common stock, subject to vesting conditions.