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Form 4 ACADIA REALTY TRUST For: Mar 05 Filed by: Conlon Christopher

March 9, 2015 5:18 PM EDT
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
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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
1. Name and Address of Reporting Person *
Conlon Christopher

(Last) (First) (Middle)
C/O ACADIA REALTY TRUST
1311 MAMARONECK AVENUE, SUITE 260

(Street)
WHITE PLAINS NY 10605

(City) (State) (Zip)
2. Issuer Name and Ticker or Trading Symbol
ACADIA REALTY TRUST [ AKR ]
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
Director 10% Owner
X Officer (give title below) Other (specify below)
Executive Vice President
3. Date of Earliest Transaction (Month/Day/Year)
03/05/2015
4. If Amendment, Date of Original Filed (Month/Day/Year)
6. Individual or Joint/Group Filing (Check Applicable Line)
X Form filed by One Reporting Person
Form filed by More than One Reporting Person
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)
Code V Amount (A) or (D) Price
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)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Limited Partnership Units $ 35.14 03/05/2015   A   14,642 (1)     (1)   (1) Common Shares of Beneficial Interest 14,642 $ 0 (1) 111,468 (2) D  
Explanation of Responses:
1. On March 5, 2015 ("Grant Date"), Mr. Conlon was awarded these restricted limited partnership units in Acadia Realty Limited Partnership ("LTIP Units"). 7,232 of these LTIP Units shall vest subject to the following schedule: equal amounts shall vest on January 6, 2016 (the "First Vesting Date") and on each of the first, second, third and fourth anniversaries thereof, provided that Mr. Conlon continues to be employed by the Company through the vesting date in question (each a "Vesting Date"). 50% of the remaining 7,410 LTIP Units will vest subject to the same schedule and Mr. Conlon's continued employment and the other 50% subject to the following schedule: 60% shall vest on January 6, 2018, 20% shall vest on January 6, 2019 and 20% shall vest on January 6, 2020, subject to Mr. Conlon's continued employment and Acadia Realty Trust (the "Company") achieving certain cumulative benchmarks established by the Company's Board of Trustees.
2. This number represents the total number of LTIP Units (19,520 vested and 91,948 unvested) now held by Mr. Conlon.
Christopher Conlon 03/09/2015
** 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.


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