ACADIA REALTY TRUST 4
4 · ACADIA REALTY TRUST · Filed Aug 27, 2003
Insider Transaction Report
Form 4
HOGAN JOSEPH W
Sr. Vice President
Transactions
- Award
Common Shares of Beneficial Interest - $.001 Par Value
2003-06-25+5,667→ 3,152 total
Footnotes (3)
- [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. Hogan has a vested, non-forfeitable right to these shares. Vesting, which is subject to Mr. Hogan's continued employment with the Company through the applicable vesting dates, is as follows: (i) 1,667 Restricted Shares; 20% vested on January 2, 2003 and vest 20% thereafter on each of the next four anniversaries of such date, (ii) 2,000 Restricted Shares; 20% vest on January 2, 2004 and on each of the next four anniversaries of such date and (iii) 2,000 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]1,667 of these Restricted Shares were purchased by Mr. Hogan from the Company at a price of $6.00 per share. The remainder were granted to Mr. Hogan for no cash consideration.
- [F3]Represents 3,152 vested Restricted Shares of a total of 9,500 Restricted Shares issued to Mr. Hogan in 2003, 2002, 2001 and 2000.