SEC Form 4 · accession 0001209191-19-010605
ACADIA REALTY TRUST · AKR
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Richard Hartmann
Officer — Sr. VP
Period of report
Feb 14, 2016
Accepted (ET)
Feb 15, 2019 · 4:27 pm 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 Value | Feb 15, 2019 | C | 10,000 | $0.00 | A | 10,168 | D | |
| Common Shares of Beneficial Interest - $.001 Par ValueF1 | Feb 15, 2019 | S | 10,168 | $29.32 | D | 0 | 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 UnitsF2 | $0.00 | Feb 14, 2019 | A | 9,679 | A | — | — | Common Shares of Beneficial Interest | 9,679 | 61,356 | D |
| Limited Partnership UnitsF3 | $0.00 | Feb 15, 2019 | C | 10,000 | D | — | — | Common Shares of Beneficial Interest | 10,000 | 51,356 | D |
Explanation of responses
- F1These shares were sold in 2 separate sales transactions at a weighted average sales price of $29.32. The actual price at which these shares were sold range from $29.32 to $29.36 per share. Mr. Hartmann 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.
- F2On February 14, 2019, Mr. Hartmann was awarded these restricted limited partnership units ("LTIP Units") in Acadia Realty Limited Partnership (the "Company"). 9,679 LTIP Units shall vest as follows: equal amounts shall vest on January 6, 2020 and on each of the first, second, third and fourth anniversaries thereof, provided that Mr. Hartmann continues to be employed on the vesting date in question. 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.
- F3These LTIP Units in Acadia Realty Limited Partnership ("ARLP") represent a portion of the LTIPs that were previously granted to Mr. Hartmann, 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 the Company. There is no expiration date for the conversion of LTIP Units or OP Units.