Lorrence T. Kellar - Sep 13, 2021 Form 4 Insider Report for ACADIA REALTY TRUST (AKR)

Role: Director
Signature: /s/ Lorrence Kellar
Stock symbol: AKR
Transactions as of: Sep 13, 2021
Transactions value $: -$51,800
Form type: 4
Date filed: 9/14/2021, 04:21 PM
Previous filing: Aug 31, 2021
Next filing: May 5, 2022

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	AKR	Common Shares of Beneficial Interest - $.001 Par Value	Conversion of derivative security	$0	+8K	+20.07%	$0.00	47.9K	Sep 13, 2021	Direct
transaction	AKR	Common Shares of Beneficial Interest - $.001 Par Value	Sale	-$51.8K	-2.5K	-5.22%	$20.72	45.4K	Sep 13, 2021	Direct	F1

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	Conversion of derivative security	$0	-8K	-15.89%	$0.00	42.4K	Sep 13, 2021	Common Shares of Beneficial Interest	8K	$0.00	Direct	F2

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

Explanation of Responses:

Id	Content
F1	37,273 common shares of beneficial interest ("Common Shares") of Acadia Realty Trust (the "Company") are held through the Lorrence T. Kellar Revocable Trust dated July 20, 2005 as Amended (the "Trust"). Mr. Kellar is the sole trustee of the Trust, with sole voting and/or investment power with respect to such Common Shares, and the sole beneficiary of the Trust. Therefore, Mr. Kellar may be deemed to be the beneficial owner of such Common Shares.
F2	These LTIP Units in Acadia Realty Limited Partnership ("ARLP") represent a portion of the LTIPs that were previously granted to Mr. Kellar, which vested in accordance with the terms of each grant. LTIP Units are a class of Units of ARLP that, following the occurrence of certain events and upon vesting, are convertible by the holder into an equivalent number of common units of limited partnership interest of ARLP ("OP Units") which, in turn, are exchangeable on a 1:1 basis for Common Shares or the cash value of such Common Shares. There is no expiration date for the conversion of LTIP Units or OP Units.

Content

37,273 common shares of beneficial interest ("Common Shares") of Acadia Realty Trust (the "Company") are held through the Lorrence T. Kellar Revocable Trust dated July 20, 2005 as Amended (the "Trust"). Mr. Kellar is the sole trustee of the Trust, with sole voting and/or investment power with respect to such Common Shares, and the sole beneficiary of the Trust. Therefore, Mr. Kellar may be deemed to be the beneficial owner of such Common Shares.

These LTIP Units in Acadia Realty Limited Partnership ("ARLP") represent a portion of the LTIPs that were previously granted to Mr. Kellar, which vested in accordance with the terms of each grant. LTIP Units are a class of Units of ARLP that, following the occurrence of certain events and upon vesting, are convertible by the holder into an equivalent number of common units of limited partnership interest of ARLP ("OP Units") which, in turn, are exchangeable on a 1:1 basis for Common Shares or the cash value of such Common Shares. There is no expiration date for the conversion of LTIP Units or OP Units.