SEC Form 4 · accession 0001140361-16-053560
ACADIA REALTY TRUST · AKR
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Joseph Napolitano
Officer — Sr. Vice President
Period of report
Feb 16, 2016
Accepted (ET)
Feb 17, 2016 · 11:28 am EST
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0000899629
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common Shares of Beneficial Interest - $.001 Par ValueF1 | Feb 16, 2016 | C | 5,941 | — | A | 6,059 | D | |
| Common Shares of Beneficial Interest - $.001 Par ValueF2,F3 | Feb 16, 2016 | S | 5,941 | $33.0069 | D | 118 | D |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Limited Partnership UnitsF1,F4 | — | Feb 16, 2016 | C | 5,941 | D | — | — | Operating Partnership Units | 5,941 | 93,508 | D |
| Operating Partnership UnitsF1,F5 | — | Feb 16, 2016 | C | 5,941 | A | — | — | Operating Partnership Units | 5,941 | 5,941 | D |
| Operating Partnership UnitsF1,F6 | — | Feb 16, 2016 | C | 5,941 | D | — | — | Common Shares | 5,941 | 0 | D |
Explanation of responses
- F1These limited partnership units ("LTIP Units") in Acadia Realty Limited Partnership ("ARLP") represent a portion of the LTIPs that were granted to Mr. Napolitano in 2009 and 2010 which vested in accordance with the terms of each grant. The LTIPs are exchangeable on a 1:1 basis for common operating partnership units of ARLP ("OP 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 OP Units.
- F2These shares were sold in 32 separate sales transactions at a weighted average sales price of $33.0069. The actual price at which these shares were sold range from $32.91 to $33.20 per share. Mr. Napolitano will provide, upon request by the Securities and Exchange Commission staff, the issuer, or a security holder of the issuer, full, detailed information regarding the number of shares sold at each separate price.
- F3This number represents the total number of Common Shares (all vested) held by Mr. Napolitano at this time.
- F4This number represents the total number of LTIP Units (59,507 vested and 34,001 unvested) held by Mr. Napolitano following the conversion of 5,941 LTIP Units into an equal number of OP Units, as reported in this Form 4.
- F5This number represents the total number of OP Units held by Mr. Napolitano following the conversion of 5,941 LTIP Units into an equal number of OP Units, as reported in this Form 4.
- F6This number represents the total number of OP Units held by Mr. Napolitano following the conversion of 5,941 OP Units into an equal number of Common Shares, as reported in this Form 4.