Acadia Realty Trust Director Mark Denien Receives LTIP Units in Lieu of Cash Compensation

This Form 4 filing reports that Mark A. Denien, a director of Acadia Realty Trust, received two grants of LTIP Units on May 13, 2026, in connection with his annual Trustee fees. The first grant of 5,436 LTIP Units was awarded as part of Mr. Denien's election to convert cash compensation to LTIP Units at a 10% discount to the preceding 20-day average share price. These units vest on May 9, 2027. The second grant of 5,592 LTIP Units vests in thirds over three years, with portions vesting on May 9, 2027, 2028, and 2029. Both grants were acquired at $0 per share and are exchangeable on a 1:1 basis for common shares of beneficial interest in Acadia Realty Trust. Following these transactions, Mr. Denien's total LTIP Unit holdings increased to 57,352 units. The filing demonstrates the company's use of equity-based compensation for board members and aligns director interests with shareholder value creation through long-term incentive structures.