ACADIA REALTY TRUST — Director's Dealing 2013

May 14, 2013

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: ACADIA REALTY TRUST (AKR)
CIK: 0000899629
Period of Report: 2013-05-10

Reporting Person: CROCKER DOUGLAS II (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2013-05-10	Common Shares of Beneficial Interest - $.001 Par Value	M	1000	$11.66	Acquired	23872	Direct
2013-05-10	Common Shares of Beneficial Interest - $.001 Par Value	M	1000	$12.55	Acquired	24872	Direct
2013-05-10	Common Shares of Beneficial Interest - $.001 Par Value	M	2000	$14.13	Acquired	26872	Direct
2013-05-10	Common Shares of Beneficial Interest - $.001 Par Value	M	3000	$15.96	Acquired	29872	Direct
2013-05-10	Common Shares of Beneficial Interest - $.001 Par Value	S	7000	$28.7225	Disposed	22872	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2013-05-10	Options to Purchase Common Shares	$11.66	M	1000	Disposed	2013-11-18	Common Shares (1000)	Direct
2013-05-10	Options to Purchase Common Shares	$12.55	M	1000	Disposed	2014-05-06	Common Shares (1000)	Direct
2013-05-10	Options to Purchase Common Shares	$14.13	M	2000	Disposed	2014-08-04	Common Shares (2000)	Direct
2013-05-10	Options to Purchase Common Shares	$15.96	M	3000	Disposed	2015-05-18	Common Shares (3000)	Direct

Footnotes

F1: On May 10th, Mr. Crocker exercised Options to purchase these Common Shares of Beneficial Interest.

F2: These shares were sold in 10 separate sales transactions at a weighted average sales price of $28.7225. The actual price at which these shares were sold range from $28.66 to $28.76 per share. Mr. Crocker will provide, upon request by the Securities and Exchange Commission staff, the issuer, or a security holder of the issuer, full, detailed information regarding the number of shares sold at each separate price.

F3: On May 10th, Mr. Crocker exercised these Options to purchase Common Shares of Beneficial Interest.