ACADIA REALTY TRUST — Director's Dealing 2014

Jun 11, 2014

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: ACADIA REALTY TRUST (AKR)
CIK: 0000899629
Period of Report: 2014-06-11

Reporting Person: NAPOLITANO JOSEPH (Sr. Vice President)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2014-06-11	Common Shares of Beneficial Interest - $.001 Par Value	M	3655	$16.35	Acquired	3773	Direct
2014-06-11	Common Shares of Beneficial Interest - $.001 Par Value	S	3655	$27.309	Disposed	118	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2014-06-11	Options to Purchase Common Shares	$16.35	M	3655	Disposed	2015-01-02	Common Shares (3655)	Direct

Footnotes

F1: On June 11, 2014, Mr. Napolitano exercised 3,655 Options to purchase Common Shares of Beneficial Interest.

F2: These shares were sold in 9 separate sales transactions at a weighted average sales price of $27.309. The actual price at which these shares were sold range from $27.30 to $27.34 per share. Mr. Napolitano 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: This number represents the total number Shares (all vested, unrestricted) now held by Mr. Napolitano.

F4: This number represents the total number of Options now held by Mr. Napolitano.