Napolitano Joseph 4

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.