George Alburger Jr.
About George J. Alburger, Jr.
Independent director of Americold Realty Trust, Inc. (COLD); age 77; director since 2010. Former CFO/Treasurer and EVP of Liberty Property Trust and trustee of Pennsylvania Real Estate Investment Trust; certified public accountant with a B.S. in Accounting from St. Joseph’s University. The Board has determined he is independent and an Audit Committee financial expert. Attendance exceeded 75% of Board and committee meetings in 2024.
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Liberty Property Trust (NYSE: LPT) | Chief Financial Officer & Treasurer; Executive Vice President | CFO/Treasurer: May 1995–Jun 2016; EVP: Jun 2000–Dec 2016 | Senior finance leadership at a large REIT |
| Pennsylvania Real Estate Investment Trust (NYSE: PEI) | Trustee (Board of Trustees) | Jun 2016–Apr 2024 | REIT board oversight |
| EBL&S Property Management, Inc. | Executive Vice President | 1982–1995 | Real estate operations leadership |
| Pricewaterhouse LLP | Senior Manager | Pre-1982 | Audit/accounting leadership; CPA credential |
External Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Pennsylvania Real Estate Investment Trust (NYSE: PEI) | Trustee | Jun 2016–Apr 2024 | Board oversight at a retail REIT |
| Current public company boards | None disclosed | — | — |
Board Governance
- Independence: Independent director; all committees composed entirely of independent directors; roles of Chairman and CEO separated.
- Committees: Audit Committee Chair; Nominating & Corporate Governance Committee member; Audit Committee financial expert designation.
- Attendance & Engagement: Board held 6 meetings in 2024; each director attended >75%; committees met Audit (4), Compensation (6), Nominating (4), Investment (5).
- Executive sessions: Independent directors and committees meet in executive session without management.
- Ownership & Holdings Policies: Director stock ownership guideline requires 5x annual cash retainer; Alburger has achieved the requirement; anti-hedging/pledging policy prohibits hedging or pledging of Company stock.
- Related-party transactions oversight: Audit Committee reviews and approves related-party transactions; none >$120,000 since Jan 1, 2024.
Fixed Compensation
| Component (2024) | Amount | Detail |
|---|---|---|
| Annual Cash Retainer | $80,000 | Standard non-employee director retainer |
| Audit Committee Chair Fee | $25,000 | Chair premium per program |
| Nominating & Corporate Governance Committee Member Fee | $7,500 | Member fee per program |
| Total Cash Fees Earned (2024) | $112,500 | Sum of retainer + committee fees |
| All Other Compensation | $62,635 | Dividend equivalents on RSUs under the 2010 plan and OP Unit distributions (timing may differ from payment) |
Program notes: Non-employee directors receive an annual cash retainer of $80,000 ($175,000 for Board Chair) and annual equity of $175,000 ($225,000 for Board Chair) in RSUs or OP Units with one-year vesting; committee fees as shown above; reasonable expenses reimbursed.
Performance Compensation
| Equity Award (2024) | Grant Value | Type | Vesting | Clawback/Change-in-Control |
|---|---|---|---|---|
| Annual Director Equity | $175,000 | RSUs or OP Units (director election) | One-year vesting | Subject to Company clawback policy; no automatic acceleration of awards upon change in control |
- Performance metrics: Not applicable for non-employee director equity awards (time-based vesting only; no director-specific performance metrics disclosed).
Other Directorships & Interlocks
| Connection | Nature | Relevance |
|---|---|---|
| Liberty Property Trust | Alburger served as CFO/EVP; director Antonio F. Fernandez previously served on Liberty Property Trust’s board (until acquisition) | Historical network overlap; no current related-party transactions disclosed |
Expertise & Qualifications
- CPA with deep finance and accounting background; former CFO/Treasurer at a major industrial REIT.
- Audit Committee financial expert; capital markets, REIT governance, and real estate expertise.
- Education: B.S. in Accounting, St. Joseph’s University.
Equity Ownership
| Category | Quantity | Notes |
|---|---|---|
| Total Beneficial Ownership | 88,730 | Less than 1% of outstanding shares |
| Common Shares Owned | 14,957 | Direct ownership |
| Deferred RSUs | 46,890 | Deferred stock units |
| Vested OP Units (convertible to common) | 19,966 | Convertible to common shares |
| OP Units Vesting within 60 days | 6,917 | Near-term vesting units |
| Shares Outstanding (Record Date) | 284,719,592 | Used for ownership % context |
| Ownership as % of Outstanding | ~0.031% | 88,730 / 284,719,592 |
| Guideline Compliance | Achieved | Director guideline: 5x cash retainer; Alburger meets requirement |
Policies:
- Anti-hedging/pledging policy in place; directors prohibited from pledging or hedging Company stock.
Governance Assessment
- Strengths: Independent Audit Chair with CPA and prior REIT CFO experience; designated audit financial expert; strong attendance; robust policies (majority voting, proxy access, anti-hedging/pledging, director ownership requirements, clawbacks); no related-party transactions disclosed.
- Alignment: Director compensation mix blends cash with one-year RSU/OPU grants; achieved share ownership guideline, supporting skin-in-the-game.
- Shareholder signals: 2024 Say‑on‑Pay approval >89% (context for compensation governance quality).
- RED FLAGS: None disclosed regarding related-party transactions, pledging/hedging, tax gross‑ups, or legal proceedings; monitor long tenure (2010–present) and age 77 for succession/refresh considerations.