ACADIA REALTY TRUST — Director's Dealing 2015

Nov 17, 2015

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: ACADIA REALTY TRUST (AKR)
CIK: 0000899629
Period of Report: 2015-11-13

Reporting Person: NAPOLITANO JOSEPH (Sr. Vice President)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2015-11-13	Common Shares of Beneficial Interest - $.001 Par Value	M	2485	$20.65	Acquired	2603	Direct
2015-11-13	Common Shares of Beneficial Interest - $.001 Par Value	S	2485	$32.0798	Disposed	118	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2015-11-13	Options to Purchase Common Shares	$20.65	M	2485	Acquired	2016-01-06	Common Shares (2485)	Direct

Footnotes

F1: On November 13, 2015, Mr. Napolitano exercised 2,485 Options to purchase Common Shares of Beneficial Interest.

F2: These shares were sold in 13 separate sales transactions at a weighted average sales price of $32.0798. The actual price at which these shares were sold range from $32.00 to $32.17 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 of Shares (all vested, unrestricted) now held by Mr. Napolitano.

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