Acadia Realty (NYSE: AKR) grants 53,921 LTIP units to EVP Blacksberg

Rhea-AI Filing Summary

ACADIA REALTY TRUST EVP and Chief Legal Officer Jason Blacksberg reported an equity-based compensation grant. He acquired 53,921 long-term incentive partnership units (LTIP Units) in Acadia Realty Limited Partnership at a price of $0.00 per unit, bringing his directly held LTIP Units to 390,806.

The LTIP Units are exchangeable 1:1 into Common Units of the partnership and then 1:1 into Acadia Realty Trust common shares, with no expiration on conversion. Of the 53,921 LTIP Units, 17,034 vest in equal portions on January 6, 2027 and on each of the first, second, third and fourth anniversaries of that date. The remaining 36,887 vest in equal portions on January 6, 2027 and on each of the first and second anniversaries, and are subject to a post-vesting two-year holding period, in each case conditioned on continued employment and customary exceptions. The reported total excludes separate LTIP Units granted under the company’s outperformance plan, which vest based on relative shareholder return and same-property income performance.

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

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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^*

Blacksberg Jason

(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)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	EVP and Chief Legal Officer

3. Date of Earliest Transaction (Month/Day/Year)
02/18/2026

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	02/18/2026	02/18/2026	A		53,921		(2)(3)	(2)(3)	Common Shares of Beneficial Interests	53,921	$0	390,806	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. On February 18, 2026, Mr. Blacksberg was awarded these restricted LTIP Units in ARLP. Of the 53,921 LTIP Units granted to Mr. Blacksberg, (i) 17,034 will vest in equal amounts on January 6, 2027 and on each of the first, second, third and fourth anniversaries thereof, and (ii) 36,887 will vest in equal amounts on January 6, 2027 and on each of the first and second anniversaries thereof, and will be subject to a post-vesting two-year hold period; in each case, provided that Mr. Blacksberg continues to be employed on the vesting date and subject to customary exceptions.

3. 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.

	/s/ Jason Blacksberg	02/20/2026
	** Signature of Reporting Person	Date
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FAQ

What did ACADIA REALTY TRUST (AKR) report in Jason Blacksberg’s latest Form 4?

ACADIA REALTY TRUST reported that EVP and Chief Legal Officer Jason Blacksberg received a grant of 53,921 LTIP Units at no cost, increasing his directly held LTIP Units to 390,806. These units are equity-linked awards convertible into common shares under specified conditions.

How many LTIP Units were granted to AKR executive Jason Blacksberg and at what price?

Jason Blacksberg was granted 53,921 long-term incentive partnership units (LTIP Units) at a transaction price of $0.00 per unit. These units represent equity-based compensation rather than an open-market purchase, and are linked to Acadia Realty Trust common shares through exchangeable partnership units.

What is the vesting schedule for Jason Blacksberg’s 53,921 LTIP Units at ACADIA REALTY TRUST?

Of the 53,921 LTIP Units, 17,034 vest in equal installments on January 6, 2027 and the first, second, third and fourth anniversaries of that date. The remaining 36,887 vest in equal installments on January 6, 2027 and the first and second anniversaries, subject to continued employment.

Are Jason Blacksberg’s AKR LTIP Units convertible into Acadia Realty Trust common shares?

Yes. The LTIP Units are exchangeable on a 1:1 basis into Common Units of Acadia Realty Limited Partnership, which are then exchangeable 1:1 into Acadia Realty Trust common shares. There is no expiration date on these conversion rights as disclosed.

Do any of Jason Blacksberg’s newly granted LTIP Units at AKR have a holding period?

Yes. Of the 53,921 LTIP Units granted, 36,887 vest in three equal installments starting January 6, 2027 and are subject to a post-vesting two-year hold period. During this period, vested units cannot be exchanged, enhancing long-term alignment with shareholder interests.

What performance-based LTIP Units are excluded from the total reported for Jason Blacksberg at AKR?

The reported figure excludes LTIP Units granted under Acadia Realty Trust’s outperformance plan. Those units vest based on shareholder return relative to a peer group and the company’s same-property income performance, rather than solely on time and continued employment conditions.