<SEC-DOCUMENT>0000950170-25-023216.txt : 20250219
<SEC-HEADER>0000950170-25-023216.hdr.sgml : 20250219
<ACCEPTANCE-DATETIME>20250219162453
ACCESSION NUMBER:		0000950170-25-023216
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20250214
FILED AS OF DATE:		20250219
DATE AS OF CHANGE:		20250219

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			NAPOLITANO JOSEPH
		CENTRAL INDEX KEY:			0001218913
		ORGANIZATION NAME:           	

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-12002
		FILM NUMBER:		25640508

	MAIL ADDRESS:	
		STREET 1:		PAUL HASTINGS
		STREET 2:		75 EAST 55TH STREET
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10022

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			ACADIA REALTY TRUST
		CENTRAL INDEX KEY:			0000899629
		STANDARD INDUSTRIAL CLASSIFICATION:	REAL ESTATE INVESTMENT TRUSTS [6798]
		ORGANIZATION NAME:           	05 Real Estate & Construction
		IRS NUMBER:				232715194
		STATE OF INCORPORATION:			MD
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		411 THEODORE FREMD AVENUE
		STREET 2:		SUITE 300
		CITY:			RYE
		STATE:			NY
		ZIP:			10580
		BUSINESS PHONE:		914-288-8100

	MAIL ADDRESS:	
		STREET 1:		411 THEODORE FREMD AVENUE
		STREET 2:		SUITE 300
		CITY:			RYE
		STATE:			NY
		ZIP:			10580

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	MARK CENTERS TRUST
		DATE OF NAME CHANGE:	19930329
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>ownership.xml
<DESCRIPTION>4
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0508</schemaVersion>

    <documentType>4</documentType>

    <periodOfReport>2025-02-14</periodOfReport>

    <issuer>
        <issuerCik>0000899629</issuerCik>
        <issuerName>ACADIA REALTY TRUST</issuerName>
        <issuerTradingSymbol>AKR</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001218913</rptOwnerCik>
            <rptOwnerName>NAPOLITANO JOSEPH</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>C/O ACADIA REALTY TRUST</rptOwnerStreet1>
            <rptOwnerStreet2>411 THEODORE FREMD AVE</rptOwnerStreet2>
            <rptOwnerCity>RYE</rptOwnerCity>
            <rptOwnerState>NY</rptOwnerState>
            <rptOwnerZipCode>10580</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>false</isDirector>
            <isOfficer>true</isOfficer>
            <isTenPercentOwner>false</isTenPercentOwner>
            <isOther>false</isOther>
            <officerTitle>Sr. VP</officerTitle>
        </reportingOwnerRelationship>
    </reportingOwner>

    <aff10b5One>false</aff10b5One>

    <derivativeTable>
        <derivativeTransaction>
            <securityTitle>
                <value>LTIP Units</value>
                <footnoteId id="F1"/>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>0</value>
            </conversionOrExercisePrice>
            <transactionDate>
                <value>2025-02-14</value>
            </transactionDate>
            <deemedExecutionDate>
                <value>2025-02-14</value>
            </deemedExecutionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>A</transactionCode>
                <equitySwapInvolved>false</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>37746</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>0</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <exerciseDate>
                <footnoteId id="F2"/>
                <footnoteId id="F3"/>
            </exerciseDate>
            <expirationDate>
                <footnoteId id="F2"/>
                <footnoteId id="F3"/>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Common Shares of Beneficial Interest</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>37746</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>230547</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </derivativeTransaction>
    </derivativeTable>

    <footnotes>
        <footnote id="F1">Represents long-term incentive partnership units (&quot;LTIP Units&quot;) in Acadia Realty Limited Partnership (&quot;ARLP&quot;). The LTIPs are exchangeable on a 1:1 basis for common partnership units of ARLP (&quot;Common Units&quot;) 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.</footnote>
        <footnote id="F2">On February 14, 2025, Mr. Napolitano was awarded these restricted long-term incentive partnership units (&quot;LTIP Units&quot;) in Acadia Realty Limited Partnership (the &quot;Company&quot;). Of the 37,746 LTIP Units granted to Mr. Napolitano, (i) 9,736 will vest in equal amounts on January 6, 2026 and on each of the first, second, third and fourth anniversaries thereof, and (ii) 28,010 will vest in equal amounts on January 6, 2026 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. Napolitano continues to be employed on the vesting date and subject to customary exceptions.</footnote>
        <footnote id="F3">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.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>/s/ Joseph Napolitano</signatureName>
        <signatureDate>2025-02-19</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
