Acadia Realty Trust (NYSE: AKR) CEO granted 210,112 LTIP units

Rhea-AI Filing Summary

Acadia Realty Trust’s President and CEO Kenneth F. Bernstein reported an equity incentive grant on Form 4. On January 23, 2026, he was awarded 210,112 LTIP Units of Acadia Realty Limited Partnership at an exercise price of $0 under the company’s 2023 outperformance plan, where the earned amount depended on achieving specified performance criteria.

The LTIP Units are exchangeable 1:1 into Common Units of the partnership and then 1:1 into common shares of beneficial interest of Acadia Realty Trust, with no stated expiration for these exchanges. Following this grant, Bernstein beneficially owns 2,910,106 derivative securities.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider BERNSTEIN KENNETH F

Role President and CEO

Type	Security	Shares	Price	Value
Grant/Award	LTIP Units	210,112	$0.00	--

Holdings After Transaction: LTIP Units — 2,910,106 shares (Direct)

Footnotes (1)

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. These LTIP Units in ARLP represent the LTIPs that Mr. Bernstein has earned pursuant to the terms of his grant under the Company's 2023 outperformance plan, the amount of which depended on achieving certain performance criteria. The LTIPs are exchangeable on a 1:1 basis for 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.

Form 4 Insider Transactions: What Each Field Means →

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^*

BERNSTEIN KENNETH F

(Last) (First) (Middle)

C/O ACADIA REALTY TRUST

411 THEODORE FREMD AVE

(Street)

RYE NY 10580

(City) (State) (Zip)

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
X	Officer (give title below)		Other (specify below)
	President and CEO

3. Date of Earliest Transaction (Month/Day/Year)
01/23/2026

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

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

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

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	01/23/2026	01/23/2026	A		210,112		(2)	(2)	Common Shares of Beneficial Interests	210,112	$0	2,910,106	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. These LTIP Units in ARLP represent the LTIPs that Mr. Bernstein has earned pursuant to the terms of his grant under the Company's 2023 outperformance plan, the amount of which depended on achieving certain performance criteria. The LTIPs are exchangeable on a 1:1 basis for 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.

	/s/ Kenneth Bernstein	01/26/2026
	** 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.

FAQ

What insider transaction did ACADIA REALTY TRUST (AKR) report?

The company reported that President and CEO Kenneth F. Bernstein received a grant of 210,112 LTIP Units in Acadia Realty Limited Partnership on January 23, 2026, at an exercise price of $0.

Who is the reporting person in this ACADIA REALTY TRUST (AKR) Form 4?

The reporting person is Kenneth F. Bernstein, who serves as a Director and as President and CEO of Acadia Realty Trust.

What are the terms of the LTIP Units reported for AKR’s CEO?

The LTIP Units were granted at an exercise price of $0 and are exchangeable on a 1:1 basis for Common Units of Acadia Realty Limited Partnership, which are then exchangeable 1:1 for common shares of beneficial interest of Acadia Realty Trust, with no expiration date for these conversions.

What plan governs the LTIP Units granted to the ACADIA REALTY TRUST CEO?

The LTIP Units represent awards that Mr. Bernstein earned under the company’s 2023 outperformance plan, where the number of LTIP Units depended on achieving specified performance criteria.

How many derivative securities does the ACADIA REALTY TRUST CEO own after this transaction?

After the reported grant, Mr. Bernstein beneficially owns 2,910,106 derivative securities related to Acadia Realty Trust, held in direct form.

Do the LTIP Units granted to AKR’s CEO have an expiration date for conversion?

The filing states there is no expiration date for converting the LTIP Units or the related Common Units into common shares of beneficial interest of Acadia Realty Trust.