Americold Realty Trust (COLD) director receives 12,422 OP Profits Units grant
Rhea-AI Filing Summary
Americold Realty Trust director Joseph E. Reece received a grant of 12,422 Operating Partnership Profits Units. These derivative units were awarded at a price of $0.00 per unit and are tied to an equal number of underlying shares of common stock.
The OP Profits Units vest on the earlier of the first anniversary of the grant date or the next Americold Realty Trust, Inc. annual stockholder meeting after the grant date. Once vested and subject to tax allocation conditions, each unit can be converted into an Operating Partnership common unit, which may then be redeemed for cash equal to the fair market value of one share of common stock, or, at the company’s election, exchanged for one share of common stock. These conversion and redemption rights have no expiration dates.
Positive
- None.
Negative
- None.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Operating Partnership Profits Units | 12,422 | $0.00 | -- |
Footnotes (1)
- Represents OP Profits Units ("OP Profits Units") of Americold Realty Operating Partnership, L.P. ("Operating Partnership"), which vest on the earlier of the first anniversary of the grant date or the date of the next annual meeting of Americold Realty Trust, Inc. stockholders following the grant date. The OP Profits Units were issued to the reporting person pursuant to the Americold Realty Trust 2017 Equity Incentive Plan. 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.