Scholem Robert 4
4 · ACADIA REALTY TRUST · Filed Feb 4, 2008
Insider Transaction Report
Form 4
Scholem Robert
Sr. Vice President
Transactions
- Award
Common Shares of Beneficial Interest - $.001 Par Value
2008-01-31$23.87/sh+4,722$112,714→ 25,466 total - Award
Limited Partnership Units
2008-01-31+1,574→ 1,574 totalExercise: $23.87→ Common Shares of Beneficial Interest (1,574 underlying)
Footnotes (3)
- [F1]On January 31, 2008 (Grant date), Mr. Scholem was awarded these common shares of beneficial interest (Restricted Shares). These Restricted Shares generally carry all of the rights of unrestricted shares, not including dividend rights, but may not be transferred, assigned or pledged until Mr. Scholem has a vested, non-forfeitable right to these shares. Vesting is subject to Mr. Scholem's continued employment with the Company through the applicable vesting dates. 3,292 Restricted Shares shall vest subject to the following schedule: 14.286% shall vest on January 6, 2009 and 14.286% shall vest thereafter on each of the next six anniversaries of such date. The remaining 1,430 Restricted Shares will vest in accordance with the achievement by the Company of certain annual and cumulative benchmarks established by the Company's Board of Trustees.
- [F2]This number represents 6,318 vested Shares and 19,148 unvested Restricted Shares.
- [F3]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. 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.