Denien Mark A 4
4 · ACADIA REALTY TRUST · Filed May 13, 2026
Research Summary
AI-generated summary of this filing
ACADIA (AKR) Director Mark A. Denien Receives LTIP Award
What Happened
Mark A. Denien, a director of Acadia Realty Trust (AKR), received two LTIP (long-term incentive partnership) awards on 2026-05-13 totaling 11,028 LTIP Units (5,436 + 5,592). Each grant was recorded at $0 (derivative award). These LTIP Units are exchangeable 1:1 for ARLP common units and ultimately 1:1 for Acadia common shares (see footnote F1). This is an award of compensation (not an open‑market purchase or sale).
Key Details
- Transaction date: 2026-05-13; transaction type: Award/Grant (code A); reported price: $0 (derivative).
- Total LTIP Units granted: 11,028 (5,436 and 5,592).
- Vesting: one grant vests in one year (vesting on May 9, 2027) and the other vests in three equal annual installments (May 9, 2027; May 9, 2028; May 9, 2029) per filing (see F2, F3).
- Compensation detail: one portion reflects conversion of trustee cash fees into LTIP Units at a 10% discount to the prior 20‑day average price (trustee election) (F2).
- Conversion mechanics: LTIP Units convert 1:1 to ARLP common units, which convert 1:1 to Acadia common shares; there is no expiration on conversion (F1).
- Shares owned after transaction: not specified in the reported excerpt.
- Filing timeliness: report filed and dated 2026-05-13 (no late filing indicated).
Context
These are compensatory derivative awards to a director (routine for trustees/directors) rather than open-market purchases or sales. LTIP grants reflect deferred/alternate compensation and will convert to common shares over time as they vest; they do not immediately increase freely tradable common shares until converted and/or vested.
Insider Transaction Report
- Award
LTIP Units
[F1][F2]2026-05-13+5,436→ 51,760 totalExercise: $0.00→ Common Shares of Beneficial Interests (5,436 underlying) - Award
LTIP Units
[F1][F3]2026-05-13+5,592→ 57,352 totalExercise: $0.00→ Common Shares of Beneficial Interests (5,592 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]This grant was awarded in connection with the payment of annual Trustee fees. Trustees have the option to convert all or part of any cash payment due to them to LTIP Units with a vesting period of one year at a 10% discount to the preceding 20-day average share price from the date of issuance. These LTIP Units reflect the portion of Mr. Denien's cash compensation that he elected to receive in LTIP Units and represent the number of LTIP Units he was entitled to receive after giving effect to the 10% discount. These LTIP Units shall vest on May 9, 2027. There is no expiration date for the conversion of LTIP Units.
- [F3]This grant was awarded in connection with the payment of annual Trustee fees. These LTIP Units shall vest according to the following schedule: one-third shall vest on May 9, 2027, one-third shall vest on May 9, 2028 and the remaining third shall vest on May 9, 2029. There is no expiration date for the conversion of LTIP Units.