ACADIA REALTY TRUST — Director's Dealing 2025

Feb 5, 2025

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: ACADIA REALTY TRUST (AKR)
CIK: 0000899629
Period of Report: 2025-02-03

Reporting Person: Livingston Reginald (N/A)

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2025-02-03	Limited Partnership Units	$0	A	6846	Acquired		Common Shares of Beneficial Interest (6846)	Direct

Footnotes

F1: Represents limited partnership units ("LTIP Units") in Acadia Realty Limited Partnership ("ARLP") granted to the employee under the Company's 2022 outperformance plan. Of these LTIP Units, 60% are currently vested with the remaining 40% to vest ratably on January 6, 2026 and 2027, based on continued employment by the Company.

F2: These LTIP Units in ARLP represent the LTIPs that Mr. Livingston has earned pursuant to the terms of his grant under the Company's 2022 outperformance plan, the amount of which depended on achieving certain performance criteria. 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 Acadia Realty Trust. There is no expiration date for the conversion of LTIP Units or OP Units.