BERNSTEIN KENNETH F 4
4 · ACADIA REALTY TRUST · Filed Jan 26, 2026
Research Summary
AI-generated summary of this filing
Acadia Realty (AKR) CEO Kenneth Bernstein Receives 210,112 LTIP Units
What Happened
Kenneth F. Bernstein, President & CEO and a director of Acadia Realty Trust (AKR), received a grant of 210,112 long‑term incentive partnership units (LTIP Units) on January 23, 2026. The reported transaction is coded as an award/grant (A) and shows an acquisition price of $0.00 (a compensation award rather than a cash purchase). The filing reports the units as derivative awards rather than open‑market stock purchases or sales.
Key Details
- Transaction date: 2026-01-23; Form 4 filed: 2026-01-26 (timely filed).
- Transaction type/code: Award/Grant (A). Price per unit reported: $0.00; units granted: 210,112.
- Instrument: LTIP Units in Acadia Realty Limited Partnership (ARLP), reported as derivative awards.
- Conversion: LTIP Units are exchangeable 1:1 for ARLP common partnership units, which are exchangeable 1:1 for Acadia Realty Trust common shares; there is no expiration date for conversion (see footnotes F1/F2).
- Reason/plan: These LTIP Units were earned under the Company’s 2023 outperformance plan and vested based on achieving specified performance criteria (footnote F2).
- Shares owned after transaction: Not disclosed in the provided filing excerpt.
Context
This was a compensation award tied to long‑term incentive performance rather than a market purchase or sale. Such grants are common for aligning executive pay with company performance; they do not by themselves indicate immediate buying or selling of shares by the insider. The award is a derivative equity interest that can be converted to partnership units and ultimately to common shares on a 1:1 basis, with no stated expiration.
Insider Transaction Report
- Award
LTIP Units
[F1][F2]2026-01-23+210,112→ 2,910,106 totalExercise: $0.00→ Common Shares of Beneficial Interests (210,112 underlying)
Footnotes (2)
- [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]These LTIP Units in ARLP represent the LTIPs that Mr. Bernstein has earned pursuant to the terms of his grant under the Company's 2023 outperformance plan, the amount of which depended on achieving certain performance criteria. The LTIPs are exchangeable on a 1:1 basis for 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.