NAPOLITANO JOSEPH 4
4 · ACADIA REALTY TRUST · Filed Feb 19, 2025
Insider Transaction Report
Form 4
Napolitano Joseph
Sr. VP
Transactions
- Award
LTIP Units
2025-02-14+37,746→ 230,547 totalExercise: $0.00→ Common Shares of Beneficial Interest (37,746 underlying)
Footnotes (3)
- [F1]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.
- [F2]On February 14, 2025, Mr. Napolitano was awarded these restricted long-term incentive partnership units ("LTIP Units") in Acadia Realty Limited Partnership (the "Company"). Of the 37,746 LTIP Units granted to Mr. Napolitano, (i) 9,736 will vest in equal amounts on January 6, 2026 and on each of the first, second, third and fourth anniversaries thereof, and (ii) 28,010 will vest in equal amounts on January 6, 2026 and on each of the first and second anniversaries thereof, and will be subject to a post-vesting two-year hold period; in each case, provided that Mr. Napolitano continues to be employed on the vesting date and subject to customary exceptions.
- [F3]This figure excludes LTIP Units granted under the Company's outperformance plan, the vesting of which is subject to conditions, other than the passage of time and continued employment, which are not tied solely to the marked price of an equity security of the Company. The vesting conditions for the Company's outperformance plan relate to the Company's shareholder return relative to the total shareholder return of a basket of peer group companies and absolute performance of the Company's same-property income.