ACADIA REALTY TRUST — Director's Dealing 2025

Mar 11, 2025

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: ACADIA REALTY TRUST (AKR)
CIK: 0000899629
Period of Report: 2025-03-10

Reporting Person: NAPOLITANO JOSEPH (N/A)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2025-03-10	Common Shares of Beneficial Interest	C	46567	—	Acquired	46685	Direct
2025-03-10	Common Shares of Beneficial Interest	S	46567	$22.39	Disposed	118	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2025-03-10	LTIP Units	$0	C	46567	Disposed		Common Shares of Beneficial Interest (46567)	Direct

Footnotes

F1: These shares were sold in several separate sales transactions at a weighted average price of $22.39. The actual price at which these shares were sold range from $22.22 to $22.53 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: Represents long-term incentive partnership units ("LTIP Units") in Acadia Realty Limited Partnership ("ARLP"). The LTIPs are exchangeable on a 1:1 basis for common partnership units of ARLP ("Common Units") which in turn, are exchangeable on a 1:1 basis for common shares of beneficial interest of Acadia Realty Trust. There is no expiration date for the conversion of LTIP Units or Common Units.

F3: These LTIP Units in ARLP represent a portion of the LTIPs that were previously granted to Mr. Napolitano, which vested in accordance with the terms of each grant.