Napolitano Joseph 4
4 · ACADIA REALTY TRUST · Filed Feb 20, 2026
Research Summary
AI-generated summary of this filing
ACADIA (AKR) Sr. VP Joseph Napolitano Receives LTIP Award
What Happened Joseph Napolitano, Senior Vice President of Acadia Realty Trust (AKR), was awarded 44,910 long-term incentive partnership units (LTIP Units) in Acadia Realty Limited Partnership (ARLP) on February 18, 2026. The award was recorded as an acquisition at $0 (derivative award). LTIP Units are exchangeable 1:1 for ARLP common partnership units, which in turn are exchangeable 1:1 for Acadia common shares; there is no expiration on those conversions.
Key Details
- Transaction date: February 18, 2026; Form 4 filed February 20, 2026 (timely filing).
- Transaction type/code: Award/Grant (A); 44,910 LTIP Units acquired at $0.00 (derivative).
- Vesting: 14,461 units vest in equal amounts on Jan 6, 2027 and each of the next four anniversaries; 30,449 units vest in equal amounts on Jan 6, 2027 and each of the next two anniversaries and then are subject to a two‑year post‑vesting hold period (continued employment required, customary exceptions apply).
- Acceleration: Compensation Committee approved acceleration of these awards in connection with Mr. Napolitano’s expected retirement, effective on or about April 1, 2026.
- Shares owned after transaction: Not specified in the reported transaction.
- Exclusions: The reported figure excludes LTIP Units from the company’s outperformance plan, which vest based on relative and absolute performance metrics (not time-only vesting).
Context This was a time‑based/retention-style equity grant (derivative LTIP Units), not an open‑market purchase or sale. Such awards align management compensation with long-term shareholder value but do not involve immediate cash paid by the insider. The acceleration note relates to planned retirement and affects when the awards may vest; it’s factual information about timing, not an indication of intent to buy or sell shares.
Insider Transaction Report
- Award
LTIP Units
[F1][F2][F3]2026-02-18+44,910→ 258,436 totalExercise: $0.00→ Common Shares of Beneficial Interests (44,910 underlying)
Footnotes (3)
- [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]On February 18, 2026, Mr. Napolitano was awarded these restricted LTIP Units in ARLP. Of the 44,910 LTIP Units granted to Mr. Napolitano, (i) 14,461 will vest in equal amounts on January 6, 2027 and on each of the first, second, third and fourth anniversaries thereof, and (ii) 30,449 will vest in equal amounts on January 6, 2027 and on each of the first and second anniversaries thereof, and will be subject to a post-vesting two-year hold period; in each case, provided that Mr. Napolitano continues to be employed on the vesting date and subject to customary exceptions. In connection with Mr. Napolitano's expected retirement, the Company's Compensation Committee has approved the acceleration of these awards effective on or about April 1, 2026.
- [F3]This figure excludes LTIP Units granted under the Company's outperformance plan, the vesting of which is subject to conditions, other than the passage of time and continued employment, which are not tied solely to the marked price of an equity security of the Company. The vesting conditions for the Company's outperformance plan relate to the Company's shareholder return relative to the total shareholder return of a basket of peer group companies and absolute performance of the Company's same-property income.