ACADIA REALTY TRUST — Director's Dealing 2016

May 11, 2016

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: ACADIA REALTY TRUST (AKR)
CIK: 0000899629
Period of Report: 2016-05-09

Reporting Person: Spitz William T. (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2016-05-09	Common Shares of Beneficial Interest - $.001 Par Value	A	2351	$34.02	Acquired	46338	Direct

Footnotes

F1: This grant was awarded in connection with the payment of annual Trustee fees. These shares shall vest according to the following schedule: one-third shall vest on May 9, 2017, one-third shall vest on May 9, 2018 and the remaining third shall vest on May 9, 2019, pursuant to the Trust Compensation Plan.

F2: This number represents the total number of Shares now held by Mr. Spitz (36,309 vested Shares and 10,029 unvested Shares).