Jerome Numa 4
4 · ACADIA REALTY TRUST · Filed Feb 4, 2008
Insider Transaction Report
Form 4
Jerome Numa
Senior Vice President
Transactions
- Award
Limited Partnership Units
2008-01-31+3,771→ 3,771 totalExercise: $23.87→ Common Shares of Beneficial Interest (3,771 underlying)
Footnotes (1)
- [F1]On January 31, 2008, the reporting person received a grant of restricted units of Acadia Realty Limited Partnership (the "Operating Partnership"), the Operating Partnership of Acadia Realty Trust (the "Company"). The restricted units are a class of units of the Operating Partnership that are exchangeable by the holder, upon vesting, into an equivalent number of common units of the Operating Partnership, which are exchangeable on a 1:1 basis for the Company's common shares of beneficial interest. 50% of the restricted units will vest according to the following schedule: 14.286% of such restricted units will vest on January 6, 2009 and 14.286% of such restricted units will vest upon each of the next six anniversaries of such date. The remaining 50% will vest in accordance with the achievement by the Company of certain annual and cumulative benchmarks established by the Company's Board of Trustees.