BERNSTEIN KENNETH F 4
4 · ACADIA REALTY TRUST · Filed Jan 22, 2024
Insider Transaction Report
Form 4
BERNSTEIN KENNETH F
DirectorPresident and CEO
Transactions
- Award
Limited Partnership Units
2024-01-18+59,760→ 2,143,333 totalExercise: $0.00→ Common Shares of Beneficial Interest (59,760 underlying)
Footnotes (2)
- [F1]Represents limited partnership units ("LTIP Units") in Acadia Realty Limited Partnership ("ARLP") granted to the employee under the Company's 2021 outperformance plan. Of these LTIP Units, 60% are currently vested with the remaining 40% to vest ratably on January 6, 2025 and 2026,based on continued employment by the Company.
- [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 2021 outperformance plan, the amount of which depended on achieving certain performance criteria. The LTIPs are exchangeable on a 1:1 basis for common operating partnership units of ARLP ("OP 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 OP Units.