Americold Realty Trust Files Definitive Proxy Statement

TL;DR

<b>Americold Realty Trust has filed its Definitive Proxy Statement for the period ending May 22, 2024, detailing executive compensation and corporate governance.</b>

AI Summary

AMERICOLD REALTY TRUST (COLD) filed a Proxy Statement (DEF 14A) with the SEC on April 12, 2024. Americold Realty Trust filed a Definitive Proxy Statement (DEF 14A) on April 12, 2024. The filing covers the period ending May 22, 2024. Key individuals mentioned in relation to compensation data include George F. Chappelle and Fred Boehler. Compensation data spans fiscal years from 2020 to 2023. The company's principal executive offices are located in Atlanta, GA.

Why It Matters

For investors and stakeholders tracking AMERICOLD REALTY TRUST, this filing contains several important signals. This filing provides shareholders with crucial information regarding executive compensation packages and voting matters, enabling informed decisions at the upcoming shareholder meeting. The detailed breakdown of compensation for key executives like George F. Chappelle and Fred Boehler offers transparency into the company's remuneration policies and their alignment with performance.

Risk Assessment

Risk Level: low — AMERICOLD REALTY TRUST shows low risk based on this filing. The filing is a routine DEF 14A, indicating standard corporate governance and executive compensation disclosures rather than significant new risks or opportunities.

Analyst Insight

Review the executive compensation details and any proposed shareholder resolutions to understand potential impacts on corporate strategy and shareholder value.

Executive Compensation

Key Numbers

• 2024-04-12 — Filing Date (DEF 14A)
• 2024-05-22 — Period of Report (DEF 14A)
• 2023 — Latest Fiscal Year Data (Executive compensation reporting period)
• 2020 — Earliest Fiscal Year Data (Executive compensation reporting period)

Key Players & Entities

• AMERICOLD REALTY TRUST (company) — Filer name
• DEF 14A (document) — Filing type
• 2024-04-12 (date) — Filing date
• 2024-05-22 (date) — Period of report
• George F. Chappelle (person) — Executive mentioned in compensation data
• Fred Boehler (person) — Executive mentioned in compensation data
• Atlanta, GA (location) — Business address

FAQ

Industry Context

Americold Realty Trust operates as a Real Estate Investment Trust (REIT) specializing in temperature-controlled warehouses.

Regulatory Implications

As a publicly traded company, Americold Realty Trust is subject to SEC regulations governing proxy solicitations and corporate disclosures.

What Investors Should Do

1. Review the detailed executive compensation breakdown for George F. Chappelle and Fred Boehler.
2. Analyze any shareholder proposals or director nominations presented in the proxy statement.
3. Note the reporting period and filing date for context on the information provided.

Key Dates

• 2024-04-12: Filing Date — Submission of Definitive Proxy Statement (DEF 14A)
• 2024-05-22: Period of Report End Date — Defines the reporting period for the proxy statement

Year-Over-Year Comparison

This is a DEF 14A filing, which is a standard disclosure document for annual meetings and executive compensation, not a report of new financial results compared to previous filings.

Key Financial Figures

• $1 — ear 2023 we delivered AFFO per share of $1.27, an increase of 14% versus the prior
• $500 million — eline, which is estimated to be between $500 million to $1 billion, will significantly expan
• $1 b — estimated to be between $500 million to $1 billion, will significantly expand our fo
• $100 million — Also in 2023, we announced a meaningful $100 million investment in our infrastructure named
• $797 million — ended the year with total liquidity of $797 million consisting of cash on hand and revolver
• $3.2 b — ity. Our total net debt outstanding was $3.2 billion, our net debt to pro forma core E
• $0.01 — f record of the Company's common stock, $0.01 par value per share (the "common stock"

Filing Documents

• art-20240412.htm (DEF 14A) — 1222KB
• art-20240412_g1.jpg (GRAPHIC) — 17KB
• art-20240412_g2.jpg (GRAPHIC) — 41KB
• art-20240412_g3.jpg (GRAPHIC) — 42KB
• art-20240412_g4.jpg (GRAPHIC) — 38KB
• art-20240412_g5.jpg (GRAPHIC) — 122KB
• art-20240412_g6.jpg (GRAPHIC) — 98KB
• 0001628280-24-016038.txt (&nbsp;) — 3002KB
• art-20240412.xsd (EX-101.SCH) — 4KB
• art-20240412_def.xml (EX-101.DEF) — 7KB
• art-20240412_lab.xml (EX-101.LAB) — 9KB
• art-20240412_pre.xml (EX-101.PRE) — 5KB
• art-20240412_htm.xml (XML) — 252KB

From the Filing

art-20240412 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 14A Proxy Statement Pursuant to Section 14(a) of the Securities Exchange Act of 1934 x Filed by the Registrant Filed by a party other than the Registrant Check the appropriate box: Preliminary Proxy Statement Confidential, for Use of the Commission Only (as permitted by Rule 14a-6(e)(2)) x Definitive Proxy Statement Definitive Additional Materials Soliciting Material under 240.14a-12 AMERICOLD REALTY TRUST, INC. (Name of Registrant as Specified In Its Charter) (Name of Person(s) Filing Proxy Statement, if other than the Registrant) Payment of Filing Fee (Check the appropriate box): x No fee required. Fee computed on table in exhibit required by Item 25(b) per Exchange Act Rules 14a-6(i)(1) and 0-11 To Our Fellow Stockholders, As I reflect on the past year, I am pleased to report that Americold Realty Trust has continued to lead the cold storage industry with a commitment to operational excellence. Our relentless drive to further enhance our best-in-class customer service has led to company records for economic occupancy and fixed commitment storage contracts in 2023, underscoring the high demand for our properties. The continuous optimization of our workforce has increased our permanent associate level to the highest in our history, driving productivity that will increase warehouse services margins and drive organic profit growth. We also established a solid foundation for external growth with the announcement of two strategic partnerships. The first is with DPWorld, the third largest global port operator in the world, with whom we announced our first development project in their home port of Dubai. The second is with North American rail operator Canadian Pacific Kansas City (CPKC), who owns the only contiguous rail line connecting Canada, the United States, and Mexico, and we've announced our first development project with CPKC in Kansas City. These partnerships combined with expanding our existing network in support of customer needs gives Americold a significant pipeline of high-quality development opportunities fueling growth for years to come. We remain steadfast in our mission to deliver value to our shareholders, customers, and our communities and we are proud of the accomplishments below that reflect that commitment. 2023 Highlights: 1. Performance: We produced solid revenue growth as well as record-setting performances across several metrics and previously stated key priorities in a throughput volume environment with persistent challenges. Our best-in-class customer service helped drive record setting economic occupancy in the mid-80s four quarters in a row, spanning the last quarter of 2022 and the first three quarters of 2023. For full year 2023, same-store economic occupancy was 84.3%, which is an Americold record, significantly beating our last record same-store economic occupancy of 80.5% by almost 400 basis points. In the fourth quarter, we also delivered record commitment storage contracts with 52.2% of rent and storage revenue being derived from fixed commitment storage contracts. Lastly, regarding growth, for the full year 2023 we delivered AFFO per share of $1.27, an increase of 14% versus the prior year, beating the original guidance range provided at the start of the year. This performance was driven by our Same Store NOI growth of 12.8%. 2. Strategic Partnerships and Growth Initiatives : As part of our growth strategy, we announced several strategic initiatives in 2023. At the beginning of the year, we announced a strategic partnership with DP World, the third largest global port owner and operator in the world. This partnership offers Americold opportunities to develop, own, and operate state-of-the art cold storage facilities on DP World's strategically located, 80-plus ports situated around the globe on a case-by-case basis. Then, in March, we announced a strategic investment in RSA Cold Chain in Dubai. The 49% minority ownership stake provides Americold with a scalable, investable operating platform for market entry and expansion in the Middle East and India. This investment, combined with our partnership with DP World, gives Americold an ideal platform to provide supply chain solutions and cold storage capacity in markets where we do not currently have a presence. Additionally, in June, Americold established a strategic collaboration with CPKC, a leading rail freight transportation services company, to optimize temperature-controlled logistics on its rail line network across North America, including the only single line running from Mexico through the United States to Canada. This collaboration provides innovative solutions for Americold's customers throughout North America, leveraging the strengths of both companies to streamline border crossing procedures and provide a more seamless experience for our mutual clients. In addition to our strategic p

View Full Filing

View this DEF 14A filing on SEC EDGAR