Mark Denien - May 2, 2024 Form 4 Insider Report for ACADIA REALTY TRUST (AKR)

Role
Director
Signature
/s/ Mark Denien
Stock symbol
AKR
Transactions as of
May 2, 2024
Transactions value $
$0
Form type
4
Date filed
5/6/2024, 04:26 PM
Previous filing
May 5, 2023

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 +6.51K +30.04% $0.00 28.2K May 2, 2024 Common Shares of Beneficial Interest 6.51K $0.00 Direct F1, F2
transaction AKR LTIP Units Award $0 +5.86K +20.79% $0.00 34.1K May 2, 2024 Common Shares of Beneficial Interest 5.86K $0.00 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, 2025. 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, 2025, one-third shall vest on May 9, 2026 and the remaining third shall vest on May 9, 2027. There is no expiration date for the conversion of LTIP Units.