ACADIA REALTY TRUST — Director's Dealing 2020

Feb 26, 2020

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: ACADIA REALTY TRUST (AKR)
CIK: 0000899629
Period of Report: 2020-02-24

Reporting Person: NAPOLITANO JOSEPH (Sr. VP)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2020-02-24	Common Shares of Beneficial Interest - $.001 Par Value	C	13830	$0.00	Acquired	13948	Direct
2020-02-26	Common Shares of Beneficial Interest - $.001 Par Value	S	1447	$24.9035	Disposed	12501	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2020-02-24	Limited Partnership Units	$0.00	C	13830	Disposed		Common Shares of Beneficial Interest (13830)	Direct

Footnotes

F1: These shares were sold in 5 separate sales transactions at a weighted average sales price of $24.9035. The actual price at which these shares were sold range from $24.90 to $24.91 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

F2: These LTIP Units in Acadia Realty Limited Partnership ("ARLP") represent a portion of the LTIPs that were previously granted to Mr. Napolitano, which vested in accordance with the terms of each grant. The LTIPs are exchangeable on a 1:1 basis for common operating partnership units of ARLP ("OP Units") which, in turn, are exchangeable on a 1:1 basis for common shares of beneficial interest of the Company. There is no expiration date for the conversion of LTIP Units or OP Units.