KENNETH BERNSTEIN - 03 Feb 2025 Form 4 Insider Report for ACADIA REALTY TRUST (AKR)

Role
President and CEO, Director
Signature
/s/ Kenneth Bernstein
Issuer symbol
AKR
Transactions as of
03 Feb 2025
Transactions value $
$0
Form type
4
Filing time
05 Feb 2025, 17:34:22 UTC
Previous filing
22 Jan 2024
Next filing
19 Feb 2025
SEC
View on sec.gov

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 AKR Limited Partnership Units Award $0 +125K +5.25% $0.00 2.51M 03 Feb 2025 Common Shares of Beneficial Interest 125K $0.00 Direct F1, F2
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Represents limited partnership units ("LTIP Units") in Acadia Realty Limited Partnership ("ARLP") granted to the employee under the Company's 2022 outperformance plan. Of these LTIP Units, 60% are currently vested with the remaining 40% to vest ratably on January 6, 2026 and 2027, based on continued employment by the Company.
F2 These LTIP Units in ARLP represent the LTIPs that Mr. Bernstein has earned pursuant to the terms of his grant under the Company's 2022 outperformance plan, the amount of which depended on achieving certain performance criteria. The LTIPs are exchangeable on a 1:1 basis for common operating partnership units of ARLP ("OP Units") which in turn, are exchangeable on a 1:1 basis for common shares of beneficial interest of Acadia Realty Trust. There is no expiration date for the conversion of LTIP Units or OP Units.