Lorrence T. Kellar - May 6, 2021 Form 4 Insider Report for ACADIA REALTY TRUST (AKR)

Role: Director
Signature: /s/ Lorrence Kellar
Stock symbol: AKR
Transactions as of: May 6, 2021
Transactions value $: $0
Form type: 4
Date filed: 5/7/2021, 04:11 PM
Next filing: Aug 31, 2021

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	+4.06K	+9.8%	$0.00	45.5K	May 6, 2021	Common Shares of Beneficial Interest	4.06K	$0.00	Direct	F1
transaction	AKR	Limited Partnership Units	Award	$0	+4.87K	+10.71%	$0.00	50.4K	May 6, 2021	Common Shares of Beneficial Interest	4.87K	$0.00	Direct	F2

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

Explanation of Responses:

Id	Content
F1	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 under the Trust Compensation Plan to restricted limited partnership units in Acadia Realty Limited Partnership (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. Kellar'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, 2022. There is no expiration date for the conversion of LTIP Units.
F2	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, 2022, one-third shall vest on May 9, 2023 and the remaining third shall vest on May 9, 2024, pursuant to the Trust Compensation Plan. There is no expiration date for the conversion of LTIP Units.

Content

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 under the Trust Compensation Plan to restricted limited partnership units in Acadia Realty Limited Partnership (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. Kellar'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, 2022. There is no expiration date for the conversion of LTIP Units.

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, 2022, one-third shall vest on May 9, 2023 and the remaining third shall vest on May 9, 2024, pursuant to the Trust Compensation Plan. There is no expiration date for the conversion of LTIP Units.