CHRISTOPHER J. PAPA - 23 Feb 2026 Form 4 Insider Report for AMERICOLD REALTY TRUST (COLD)

Role: Chief Financial Officer
Signature: /s/ Nathan H. Harwell, Attorney-in-fact
Issuer symbol: COLD
Transactions as of: 23 Feb 2026
Net transactions value: $0
Form type: 4
Filing time: 24 Feb 2026, 16:31:08 UTC
Previous filing: 05 Jan 2026
Next filing: 10 Mar 2026
SEC: View on sec.gov

Reporting Owners (1)

Name	Relationship	Address	Signature	Signature date	CIK
PAPA CHRISTOPHER J	Chief Financial Officer	C/O 10 GLENLAKE PARKWAY, SOUTH TOWER, SUITE 600, ATLANTA	/s/ Nathan H. Harwell, Attorney-in-fact	24 Feb 2026	0001271836

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Underlying Class	Amount	Exercise Price	Ownership	Footnotes
transaction	COLD	Operating Partnership Profits Units	Award	$0	+187,970		$0.000000	187,970	23 Feb 2026	Common Stock	187,970		Direct	F1, F2

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	Represents OP Profits Units ("OP Profits Units") of Americold Realty Operating Partnership, L.P. ("Operating Partnership"), which vest ratably over a two-year period, with 50% vesting on the one-year anniversary of February 23, 2026 (the "Grant Date"), and 50% vesting on the second anniversary of the Grant Date. 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.

Content

Represents OP Profits Units ("OP Profits Units") of Americold Realty Operating Partnership, L.P. ("Operating Partnership"), which vest ratably over a two-year period, with 50% vesting on the one-year anniversary of February 23, 2026 (the "Grant Date"), and 50% vesting on the second anniversary of the Grant Date. The OP Profits Units were issued to the reporting person pursuant to the Amended and Restated 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.