Scott Henderson
About Scott Henderson
R. Scott Henderson is Executive Vice President and Chief Investment Officer of Americold Realty Trust (COLD), appointed in March 2023 after joining the company in 2018 as SVP leading Capital Markets, Treasury and Investor Relations; he is 47 years old, with a BSBA from Washington University in St. Louis and an MBA from Columbia Business School . He oversees investment and capital allocation and brings >18 years of REIT and real estate experience from SITE Centers (DDR Corp.), STAG Industrial, and REIT finance at Citizens Bank . Company performance during his tenure has featured Core EBITDA growth of 14.5% in 2023 and 10.8% in 2024; AFFO per share increased ~14% in 2023 and ~15.9% in 2024, with ongoing emphasis on efficiency and pricing initiatives .
Company financials (USD):
| Metric | FY 2022 | FY 2023 | FY 2024 |
|---|---|---|---|
| Revenues ($) | $2,302,971,000* | $2,391,089,000* | $2,416,743,000* |
| EBITDA ($) | $463,959,000* | $517,423,000* | $585,258,000* |
Values retrieved from S&P Global.*
Past Roles
| Organization | Role | Years | Strategic impact |
|---|---|---|---|
| SITE Centers (DDR Corp.) | REIT roles (capital markets/finance) | Not disclosed | REIT operations and capital markets experience leveraged for Americold’s development pipeline |
| STAG Industrial | REIT roles (corporate finance/M&A) | Not disclosed | Industrial REIT exposure informing warehouse investment strategy |
| Citizens Bank | REIT finance | Not disclosed | Financing expertise supporting Americold capital allocation |
External Roles
No public company directorships disclosed for Henderson. Bio details limited to prior employers and education .
Fixed Compensation
Henderson’s individual base salary and target bonus are not disclosed (he was not a Named Executive Officer). Relevant executive compensation structure for Americold:
- Annual Incentive Plan (AIP): 75% weighted to Core EBITDA (with regional EBITDA for certain roles) and 25% to individual strategic objectives; threshold 85% of target, max 115%; payouts linearly interpolate from 50% to 175% of target .
- LTIP equity mix: 60% performance-based RSUs/OPUs linked to 3-year relative TSR vs MSCI U.S. REIT Index; 40% time-based RSUs/OPUs vesting ratably over 3 years .
Performance Compensation
Company-level AIP targets and 2024 outcomes:
| Component | Threshold | Target | Maximum |
|---|---|---|---|
| Core EBITDA ($ mm) | $531.3 | $625.1 | $718.9 |
| Americas EBITDA ($ mm) | $441.1 | $518.9 | $596.7 |
| International EBITDA ($ mm) | $84.2 | $99.1 | $114.0 |
- 2024 actual Core EBITDA for AIP was adjusted to 101.9% of target, yielding a 109.7% payout factor for the Core EBITDA component; Americas EBITDA achieved 101.3% (106.3% payout for relevant roles), International EBITDA achieved 95.2% (84.0% payout for relevant roles) .
- Performance equity: PSUs/OPUs vest based on 3-year rTSR vs MSCI U.S. REIT Index; 25th/50th/75th percentile maps to 50%/100%/200% of target; negative TSR caps vesting at target .
Equity Ownership & Alignment
- Executive stock ownership guidelines: CEO 6x base salary; Executive Vice Presidents 3x; Senior Vice Presidents 1x; 5-year compliance window; holding requirements apply .
- Anti-hedging/anti-pledging policy: Directors and executives are prohibited from hedging or pledging company stock .
- Clawback: NYSE-compliant recoupment policy adopted Oct 1, 2023 for erroneously awarded incentive compensation .
Insider awards/vesting (Henderson):
| Award type | Grant date | Vesting dates | Plan/Notes |
|---|---|---|---|
| OP Profits Units (Operating Partnership) | Mar 14, 2025 | Mar 14, 2026; Mar 14, 2027; Mar 14, 2028 | Issued under 2017 Equity Incentive Plan; each vested OPU may convert to a Common Unit and redeem into common shares/cash per plan terms . |
Note: Henderson’s total beneficial share ownership was not disclosed in the 2024 or 2025 proxy beneficial ownership tables (he was not a director or NEO in those years) .
Employment Terms
- Executive Severance Plan coverage applies to executives hired from February 2022 onward; Henderson’s CIO appointment occurred in March 2023, indicating coverage by plan policies .
- Severance (no Change-in-Control): Cash severance generally equals 1x base salary + target bonus for 12 months (CEO: 2x), plus pro-rated bonus and next tranche vesting of time-based equity; PSUs/OPUs remain eligible pro-rata to actual performance for the period; COBRA benefits for up to 12–18 months depending on role/location .
- Change-in-Control: Double trigger required (CIC plus qualifying termination) for cash severance and equity acceleration; no tax gross-ups; equity acceleration subject to plan terms .
Investment Implications
- Pay-for-performance alignment: Executive AIP emphasizes EBITDA delivery and objectives; PSUs align to relative TSR vs MSCI U.S. REIT Index, reducing windfall risk and anchoring equity payouts to market outperformance .
- Retention and selling pressure: Henderson’s March 2025 OP Unit grant vests 2026–2028, pointing to near-term retention incentives and limited immediate selling pressure; anti-hedging/anti-pledging policies further mitigate alignment risks .
- Ownership alignment: EVP-level 3x salary ownership guideline and clawback regime support durable alignment; individual compliance status for Henderson is not disclosed .
- Corporate performance tailwinds: Company Core EBITDA growth (14.5% in 2023 and 10.8% in 2024) and AFFO per-share increases underpin incentive funding and signal execution momentum during Henderson’s tenure .
References:
Executive bio, age, role:
AIP design and outcomes:
LTIP/TSR structure:
Ownership policies and governance:
Clawback policy:
Severance/CIC terms:
Insider Form 4 (award vesting):
Company performance highlights:
S&P Global disclaimer for tabled financials: Values retrieved from S&P Global.*