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.