Acadia Realty Trust grants Fischer trustee pay awards

One award vests on May 9, 2027, while the other vests in thirds on May 9, 2027, May 9, 2028, and May 9, 2029.

Rhea-AI Filing Summary

ACADIA REALTY TRUST director Tamara D. Fischer acquired awards of 2,681 and 3,620 LTIP Units on October 19, 2026, in connection with annual Trustee fees. The 2,681-unit award reflects cash compensation she elected to receive in LTIP Units, calculated at a 10% discount to the preceding 20-day average share price, and vests May 9, 2027. The 3,620-unit award vests in thirds on May 9, 2027, May 9, 2028, and May 9, 2029.

Insider Trade Summary

Grant/Award: 6,301 shares

Grant/Award 2 txns

Insider FISCHER TAMARA D

Role Director

Type	Security	Shares	Price	Value
Grant/Award	LTIP Units F1, F2	2,681	$0.00	$0.00
Grant/Award	LTIP Units F1, F3	3,620	$0.00	$0.00

Holdings After Transaction: LTIP Units — 6,301 contracts (Direct)

Footnotes (3)

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. 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 Ms. Fischer's cash compensation that she elected to receive in LTIP Units and represent the number of LTIP Units she 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.
3. 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.

Key Figures

First LTIP Unit award: 2,681 LTIP Units Second LTIP Unit award: 3,620 LTIP Units Discount: 10% +2 more

5 metrics

First LTIP Unit award 2,681 LTIP Units Awarded October 19, 2026; vests May 9, 2027

Second LTIP Unit award 3,620 LTIP Units Awarded October 19, 2026; vests in thirds on May 9, 2027, May 9, 2028, and May 9, 2029

Discount 10% Applied to the preceding 20-day average share price for the first award

Exchange ratio 1:1 LTIP Units for common partnership units, and common partnership units for common shares

Average share price period 20 days Preceding period used for the first award's discount calculation

Key Terms

LTIP Units, Common Units, vesting period

3 terms

LTIP Units financial

"long-term incentive partnership units ("LTIP Units")"

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.

Common Units financial

"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.

vesting period financial

"with a vesting period of one year"

A vesting period is the set amount of time someone must wait before they fully own granted shares, stock options, or other equity tied to their work or an agreement; ownership increases gradually or in steps during that time. Investors care because vesting determines when insiders or employees can sell shares, which affects future supply of stock, company incentives and executive retention—think of it like unlocking ownership over installments rather than receiving it all at once.

FAQ

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

How many LTIP Units did AKR director Tamara D. Fischer receive?

Tamara D. Fischer received awards of 2,681 LTIP Units and 3,620 LTIP Units on October 19, 2026, in connection with annual Trustee fees.

When do Tamara D. Fischer's AKR LTIP Units vest?

The 2,681 LTIP Units vest on May 9, 2027; the 3,620 LTIP Units vest one-third on May 9, 2027, one-third on May 9, 2028, and the remaining third on May 9, 2029.

How do AKR LTIP Units convert into common shares?

LTIP Units are exchangeable on a 1:1 basis for common partnership units of Acadia Realty Limited Partnership, which are exchangeable on a 1:1 basis for common shares of beneficial interest of Acadia Realty Trust. The LTIP Units have no expiration date for conversion.

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

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Available on EDGAR 10/20/2026 - 04:26 PM EDT Accepted by SEC EDGAR 10/20/2026 - 04:25 PM EDT 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^*

FISCHER TAMARA D

(Last) (First) (Middle)

C/O ACADIA REALTY TRUST

411 THEODORE FREMD AVE SUITE 300

(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)
10/19/2026

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	10/19/2026	10/19/2026	A		2,681		(2)	(2)	Common Shares of Beneficial Interests	2,681	$0	2,681	D
LTIP Units(1)	$0	10/19/2026	10/19/2026	A		3,620		(3)	(3)	Common Shares of Beneficial Interests	3,620	$0	6,301	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. 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 Ms. Fischer's cash compensation that she elected to receive in LTIP Units and represent the number of LTIP Units she 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.

3. 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/ David Buell as Attorney-in-Fact for Tamara D Fischer	10/20/2026
	** 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)