ACADIA director granted 6,990 LTIP Units

Wielansky Lee S reported acquisition or exercise transactions in this Form 4 filing.

Rhea-AI Filing Summary

Wielansky Lee S reported acquisition or exercise transactions in this Form 4 filing.

ACADIA REALTY TRUST director Lee S. Wielansky received a grant of 6,990 LTIP Units as compensation. These long-term incentive partnership units were awarded in connection with annual Trustee fees and are a form of equity-based pay rather than an open-market purchase.

The LTIP Units are ultimately exchangeable on a 1:1 basis into common shares of beneficial interest of Acadia Realty Trust. One-third of the grant will vest on May 9, 2027, one-third on May 9, 2028, and the remaining third on May 9, 2029. Following this award, Wielansky holds 74,024 LTIP Units.

Insider Trade Summary

Grant/Award: 6,990 shares

Grant/Award 1 txn

Insider Wielansky Lee S

Role Director

Type	Security	Shares	Price	Value
Grant/Award	LTIP Units	6,990	$0.00	$0.00

Holdings After Transaction: LTIP Units — 74,024 contracts (Direct)

Footnotes (2)

1. 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.
2. F2. 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.

Key Figures

LTIP Units granted: 6,990 units LTIP Units after grant: 74,024 units Vesting date 1: May 9, 2027 +2 more

5 metrics

LTIP Units granted 6,990 units Grant in connection with annual Trustee fees

LTIP Units after grant 74,024 units Total LTIP Units held following reported award

Vesting date 1 May 9, 2027 One-third of 6,990 LTIP Units vest

Vesting date 2 May 9, 2028 Second one-third of 6,990 LTIP Units vest

Vesting date 3 May 9, 2029 Final one-third of 6,990 LTIP Units vest

Key Terms

LTIP Units, Acadia Realty Limited Partnership, Common Units, common shares of beneficial interest

4 terms

LTIP Units financial

"Represents long-term incentive partnership units ("LTIP Units") in Acadia Realty Limited Partnership ("ARLP")."

LTIP units are awards given to executives and employees as part of a long-term incentive plan; they act like deferred bonuses that convert into company shares or cash only if the business meets set performance or time requirements. Investors care because LTIP units tie management pay to future results, can increase the number of outstanding shares (dilution) when they vest, and create ongoing compensation expense that can affect earnings and shareholder value.

Acadia Realty Limited Partnership financial

"Represents long-term incentive partnership units ("LTIP Units") in Acadia Realty Limited Partnership ("ARLP")."

Common Units financial

"The LTIPs are exchangeable on a 1:1 basis for common partnership units of ARLP ("Common Units")."

Common units are the basic ownership stakes in a company, limited partnership, or trust that function like common stock: they give holders a claim on profits and often voting rights. Think of them as the ordinary seats at a table—the most directly affected by the business’s success or failure, so they typically offer higher upside but carry greater risk than preferred claims or creditors, which matters to investors evaluating potential return and safety.

common shares of beneficial interest financial

"Common Units which in turn, are exchangeable on a 1:1 basis for common shares of beneficial interest of Acadia Realty Trust."

Common Shares of Beneficial Interest are units that represent ownership in a company or organization, like owning a piece of a pie. They give investors voting rights and a chance to share in profits, making them important for those looking to invest and have a say in how the organization is run.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What did ACADIA REALTY TRUST (AKR) director Lee S. Wielansky report on this Form 4?

Lee S. Wielansky reported receiving a grant of 6,990 LTIP Units as part of his annual Trustee fees. These are equity-based awards, not open-market share purchases, and increase his long-term incentive alignment with ACADIA REALTY TRUST’s common equity.

How many LTIP Units does Lee S. Wielansky hold after this ACADIA REALTY TRUST (AKR) grant?

After the 6,990 LTIP Unit grant, Lee S. Wielansky holds a total of 74,024 LTIP Units. This figure reflects his position in these derivative equity interests following the reported compensation award on the Form 4 filing.

How do the LTIP Units granted to ACADIA REALTY TRUST (AKR) director convert into common shares?

The LTIP Units are first exchangeable on a 1:1 basis for Common Units of Acadia Realty Limited Partnership. Those Common Units are then exchangeable on a 1:1 basis for common shares of beneficial interest of ACADIA REALTY TRUST, providing an indirect path to common equity.

What is the vesting schedule for the 6,990 LTIP Units granted at ACADIA REALTY TRUST (AKR)?

The 6,990 LTIP Units vest in three equal installments tied to specific dates. One-third vests on May 9, 2027, another third on May 9, 2028, and the final third on May 9, 2029, supporting long-term incentive retention.

Is there an expiration date on the LTIP Unit conversion for ACADIA REALTY TRUST (AKR)?

There is no expiration date for converting LTIP Units or the resulting Common Units into common shares of beneficial interest. This means the equity-linked awards can be converted in the future without a stated deadline in the reported terms.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 05/13/2026 - 04:30 PM Learn about SEC filing dates

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Wielansky Lee S

(Last) (First) (Middle)

C/O ACADIA REALTY TRUST

411 THEODORE FREMD AVE

(Street)

RYE NEW YORK 10580

(City) (State) (Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
ACADIA REALTY TRUST [ AKR ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
05/13/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

4. If Amendment, Date of Original Filed (Month/Day/Year)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
LTIP Units(1)	$0	05/13/2026	05/13/2026	A		6,990		(2)	(2)	Common Shares of Beneficial Interests	6,990	$0	74,024	D

Explanation of Responses:

1. 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.

2. 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.

	/s/ Lee Wielansky	05/13/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
* Form 4: SEC 1474 (03-26)