ACADIA REALTY TRUST — Director's Dealing 2017

May 12, 2017

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: ACADIA REALTY TRUST (AKR)
CIK: 0000899629
Period of Report: 2017-05-10

Reporting Person: Spitz William T. (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2017-05-10	Common Shares	A	2650	$30.19	Acquired	38988	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, 2018, one-third shall vest on May 9, 2019 and the remaining third shall vest on May 9, 2020, pursuant to the Trust Compensation Plan.

F2: This number represents the total number of Common Shares (32,269 vested and 6,719 unvested) now held by Mr. Spitz.