Mark A. Denien - 08 May 2025 Form 4 Insider Report for ACADIA REALTY TRUST (AKR)

Role: Director
Signature: /s/ Mark Denien
Issuer symbol: AKR
Transactions as of: 08 May 2025
Net transactions value: $0
Form type: 4
Filing time: 08 May 2025, 16:55:56 UTC
Previous filing: 06 May 2024
Next filing: 14 May 2025
SEC: View on sec.gov

Reporting Owners (1)

Name	Relationship	Address	Signature	Signature date	CIK
Denien Mark A	Director	C/O ACADIA REALTY TRUST, 411 THEODORE FREMD AVE, RYE	/s/ Mark Denien	08 May 2025	0001431678

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	LTIP Units	Award	$0	+6,048	+18%	$0.000000	40,103	08 May 2025	Common Shares of Beneficial Interest	6,048	$0.000000	Direct	F1, F2
transaction	AKR	LTIP Units	Award	$0	+6,221	+16%	$0.000000	46,324	08 May 2025	Common Shares of Beneficial Interest	6,221	$0.000000	Direct	F1, F3

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

Explanation of Responses:

Id	Content
F1	Represents long-term incentive partnership units ("LTIP Units") in Acadia Realty Limited Partnership ("ARLP"). The LTIPs are exchangeable on a 1:1 basis for common partnership units of ARLP ("Common 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 Common Units.
F2	This grant was awarded in connection with the payment of annual Trustee fees. Trustees have the option to convert all or part of any cash payment due to them to LTIP Units with a vesting period of one year at a 10% discount to the preceding 20-day average share price from the date of issuance. These LTIP Units reflect the portion of Mr. Denien's cash compensation that he elected to receive in LTIP Units and represent the number of LTIP Units he was entitled to receive after giving effect to the 10% discount. These LTIP Units shall vest on May 9, 2026. There is no expiration date for the conversion of LTIP Units.
F3	This grant was awarded in connection with the payment of annual Trustee fees. These LTIP Units shall vest according to the following schedule: one-third shall vest on May 9, 2026, one-third shall vest on May 9, 2027 and the remaining third shall vest on May 9, 2028. There is no expiration date for the conversion of LTIP Units.