SEC Form 4 · accession 0001140361-16-058571
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
Mar 17, 2016
Accepted (ET)
Mar 21, 2016 · 4:28 pm EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0000899629
Table I — non-derivative securities
No Table I lines on this filing.
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,F2 | $33.65 | Mar 17, 2016 | A | 20,577 | A | — | — | Common Shares of Beneficial Interest | 20,577 | 114,085 | D |
Explanation of responses
- F1On March 17, 2016, Mr. Napolitano was awarded these restricted limited partnership units ("LTIP Units") in Acadia Realty Limited Partnership (the "Company"). 10,145 LTIP Units shall vest as follows: equal amounts shall vest on January 6, 2017 and on each of the first, second, third and fourth anniversaries thereof, provided that Mr. Napolitano continues to be employed on the vesting date in question. 50% of the remaining 10,432 LTIP Units will vest subject to the same schedule and Mr. Napolitano's continued employment and the other 50% as follows: 60% shall vest on January 6, 2019, subject to Mr. Napolitano's continued employment and the Company achieving certain cumulative benchmarks established by the Company's Board of Trustees. Provided that the initial 60% vests as described above and further provided that Mr. Napolitano is continuously employed by the Company, 20% shall vest on January 6, 2020 and 20% shall vest on January 6, 2021.
- F2This number represents the total number of LTIP Units (59,063 vested and 55,022 unvested) now held by Mr. Napolitano.