BERNSTEIN KENNETH F 4
4 · ACADIA REALTY TRUST · Filed Feb 20, 2026
Research Summary
AI-generated summary of this filing
ACADIA (AKR) CEO Kenneth Bernstein Receives LTIP Award
What Happened
Kenneth F. Bernstein, President, CEO and Director of Acadia Realty Trust (AKR), was granted 223,146 long-term incentive partnership units (LTIP Units) in Acadia Realty Limited Partnership on February 18, 2026. The units were awarded at $0.00 in the filing (i.e., an equity compensation grant rather than a cash purchase or sale) and are derivative instruments exchangeable 1:1 into common partnership units and then 1:1 into common shares of the trust.
Key Details
- Transaction type: Award/Grant (code A) on 2026-02-18; Form 4 filed 2026-02-20 (appears timely).
- Amount: 223,146 LTIP Units; reported price $0.00 (no cash exchanged at grant).
- Vesting: Units vest in five equal installments — first on January 6, 2027, then on each of the first, second, third and fourth anniversaries thereafter — subject to continued employment; post-vesting two-year hold period applies.
- Conversion: LTIP Units are exchangeable 1:1 for ARLP common partnership units, which are exchangeable 1:1 for Acadia Realty Trust common shares; no expiration on conversions.
- Other: The grant figure excludes LTIP Units under an outperformance plan (those units have separate performance-based vesting conditions).
- Shares owned after transaction: Not specified in the provided filing.
Context
This is a standard equity-compensation grant for alignment of management with shareholders rather than an open-market purchase or sale. Because these LTIP Units vest over time and are subject to holding restrictions, they do not represent immediately liquid stock and do not by themselves indicate insider buying or selling sentiment.
Insider Transaction Report
- Award
LTIP Units
[F1][F2]2026-02-18+223,146→ 3,133,252 totalExercise: $0.00→ Common Shares of Beneficial Interests (223,146 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]On February 18, 2026, Mr. Bernstein was awarded these restricted long-term incentive partnership units ("LTIP Units") in Acadia Realty Limited Partnership (the "Company"). 223,146 LTIP Units shall vest as follows: equal amounts shall vest on January 6, 2027 and on each of the first, second, third and fourth anniversaries thereof, provided that Mr. Bernstein continues to be employed on the vesting date in question and will be subject to a post-vesting two-year hold period. 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.