Director David C. Zoba receives 5,592 LTIP Units at Acadia Realty (NYSE: AKR)

(Neutral)

Form Type

Rhea-AI Filing Summary

Acadia Realty Trust director David C. Zoba received a grant of 5,592 LTIP Units as equity compensation. These long-term incentive partnership units in Acadia Realty Limited Partnership are exchangeable 1:1 into Common Units, which are then exchangeable 1:1 into common shares of beneficial interest of Acadia Realty Trust.

The grant was awarded in connection with annual Trustee fees and is structured to vest over time. One-third of the LTIP Units will vest on May 9, 2027, another third on May 9, 2028, and the final third on May 9, 2029. After this award, Zoba holds 84,291 LTIP Units directly. There is no expiration date for converting LTIP Units or Common Units into common shares, making this a standard long-term incentive arrangement rather than an open-market purchase or sale.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider Zoba David C

Role Director

Type	Security	Shares	Price	Value
Grant/Award	LTIP Units	5,592	$0.00	$0.00

Holdings After Transaction: LTIP Units — 84,291 shares (Direct)

Footnotes (2)

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.
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: 5,592 LTIP Units Holdings after grant: 84,291 LTIP Units Vesting tranche 1: One-third of 5,592 LTIP Units +3 more

6 metrics

LTIP Units granted 5,592 LTIP Units Grant/award acquisition on May 13, 2026

Holdings after grant 84,291 LTIP Units Total LTIP Units directly held after transaction

Vesting tranche 1 One-third of 5,592 LTIP Units Scheduled to vest on May 9, 2027

Vesting tranche 2 One-third of 5,592 LTIP Units Scheduled to vest on May 9, 2028

Vesting tranche 3 One-third of 5,592 LTIP Units Scheduled to vest on May 9, 2029

Conversion ratio 1:1:1 exchange LTIP Unit to Common Unit to common share of beneficial interest

Key Terms

LTIP Units, Acadia Realty Limited Partnership, Common Units, common shares of beneficial interest, +1 more

5 terms

LTIP Units financial

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

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

"LTIP Units in Acadia Realty Limited Partnership ("ARLP") are exchangeable on a 1:1 basis"

Common Units financial

"LTIP Units 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 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.

annual Trustee fees financial

"This grant was awarded in connection with the payment of annual Trustee fees"

FAQ

What did ACADIA REALTY TRUST director David C. Zoba report on this Form 4 for AKR?

David C. Zoba reported receiving a grant of 5,592 LTIP Units as equity compensation. These long-term incentive units are tied to his role as a Trustee and increase his direct LTIP holdings to 84,291 units after the transaction.

How many LTIP Units did David C. Zoba receive from Acadia Realty Trust (AKR)?

He received 5,592 LTIP Units in Acadia Realty Limited Partnership. These units are a form of long-term incentive compensation and are exchangeable into Common Units and then into common shares of beneficial interest of Acadia Realty Trust on a 1:1 basis.

What is the vesting schedule for David C. Zoba’s new LTIP Units at AKR?

The 5,592 LTIP Units vest in three equal installments over three years. One-third vests on May 9, 2027, one-third on May 9, 2028, and the remaining third on May 9, 2029, aligning incentives with longer-term company performance.

How many LTIP Units does David C. Zoba hold after this Form 4 transaction at AKR?

Following the grant, he holds a total of 84,291 LTIP Units directly. This reflects his cumulative long-term incentive position in Acadia Realty Limited Partnership, which can ultimately be converted into common shares of beneficial interest of Acadia Realty Trust.

Are David C. Zoba’s LTIP Units at Acadia Realty Trust (AKR) convertible into common shares?

Yes, each LTIP Unit is exchangeable 1:1 into a Common Unit of Acadia Realty Limited Partnership. Each Common Unit is then exchangeable 1:1 into a common share of beneficial interest of Acadia Realty Trust, with no stated expiration on these conversions.

Why was this LTIP Unit grant made to David C. Zoba at ACADIA REALTY TRUST?

The grant was awarded in connection with payment of annual Trustee fees. Instead of all-cash compensation, a portion is delivered as LTIP Units, aligning the director’s interests with long-term unitholder and shareholder value through equity-linked awards.

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

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Form 4 Insider Transactions: What Each Field Means →

Accepted by SEC EDGAR 05/13/2026 - 04:30 PM

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^*

Zoba David C

(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)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)

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)
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)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
LTIP Units⁽¹⁾	$0	05/13/2026	05/13/2026	A		5,592		⁽²⁾	⁽²⁾	Common Shares of Beneficial Interests	5,592	$0	84,291	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/ David Zoba	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)

Source: View Original Filing on SEC EDGAR