AMERICOLD REALTY TRUST 8-K

What Happened
Americold Realty Trust (COLD) filed an 8‑K on Jan 26, 2026 announcing that the Board appointed Christopher Papa as Executive Vice President and Chief Financial Officer, effective February 23, 2026. Mr. Papa, age 60, joins from CenterPoint Properties (CFO, Aug 2020–Jan 2026) and is a Certified Public Accountant who earned a BS in Accounting from Clemson University. The Company also named Scott Henderson, the current Chief Investment Officer, as Interim Chief Financial Officer effective Jan 26, 2026 while Mr. Papa transitions in. Long‑time executive Jay Wells departed the company on Jan 26, 2026; his separation was not due to any disagreement over accounting or financial matters.

Key Details

• Start date for Christopher Papa: February 23, 2026.
• Base salary: $650,000 per year.
• Annual incentive target: 100% of base salary (for meeting performance goals).
• Equity and sign‑on compensation: one‑time time‑based RSU (or OP Profits Units) grant valued at $2,500,000 vesting in two equal installments at years 1 and 2; annual grant targeted at $1,700,000 (mix of time‑ and performance‑based units); one‑time cash bonus of $500,000 (less taxes) payable ~30 days after start.
• Mr. Papa is eligible for standard benefits and covered by the Company’s Executive Severance Benefit Plan (documents filed as exhibits).
• Interim CFO Scott Henderson (age 48) will continue as Chief Investment Officer and keep his current compensation terms unchanged.
• Jay Wells will receive termination benefits consistent with an involuntary termination without cause, subject to release and covenant conditions.

Why It Matters
A CFO change is a material leadership transition that affects financial reporting, treasury, investor relations and capital allocation oversight. The appointment of an experienced REIT CFO with substantial compensation and equity awards signals the company’s emphasis on continuity and attracting senior finance leadership. Investors should note the near‑term costs: cash bonus and sizeable equity grants that may affect compensation expense and outstanding equity units, and the interim coverage by an internal executive which supports continuity until Mr. Papa assumes the role.