POVINELLI JOSEPH 4
4 · ACADIA REALTY TRUST · Filed Aug 27, 2003
Insider Transaction Report
Form 4
POVINELLI JOSEPH
Sr. Vice President
Transactions
- Award
Common Shares of Beneficial Interest - $.001 Par Value
2003-06-25+3,333→ 2,991 total
Footnotes (2)
- [F1]These common shares of beneficial interest ("Restricted Shares") generally carry all the rights of unrestricted shares including voting and dividend rights, but may not be transferred, assigned or pledged until Mr. Povinelli has a vested, non-forfeitable right to these shares. Vesting, which is subject to Mr. Povinelli's continued employment with the Company through the applicable vesting dates, is as follows: (i) 1,667 Restricted Shares; 20% vest on January 2, 2004 and on each of the next four anniversaries of such date and (ii) 1,666 Restricted Shares; 20% vest on January 2, 2004 and on each of the next four anniversaries of such date, providing the Company's shareholder return is 12% or more either for such fiscal year or, on average, for such fiscal year and each other fiscal year occurring after January 2, 2003.
- [F2]Represents 2,991 vested Restricted Shares of a total of 6,655 Restricted Shares issued to Mr. Povinelli in 2003, 2001 and 1999.