Form 4: Acadia Realty Trust Director Lynn C. Thurber Acquires Shares as Part of Trustee Fee Compensation

Lynn C. Thurber, a director of Acadia Realty Trust, acquired shares of beneficial interest as part of her annual trustee fees, with vesting schedules extending to 2028.

Summary

• On May 8, 2025, Lynn C. Thurber, a director of Acadia Realty Trust, acquired 5,760 common shares of beneficial interest at a price of $19.29 per share as part of her annual trustee fees.
• These shares were granted with a one-year vesting period and reflect a 10% discount to the preceding 20-day average share price.
• Additionally, Ms. Thurber acquired 6,221 common shares of beneficial interest at $19.29 per share, also as part of her annual trustee fees.
• These shares vest in three tranches: one-third on May 9, 2026, one-third on May 9, 2027, and the remaining third on May 9, 2028.
• Following these transactions, Ms. Thurber beneficially owns 100,803 common shares of Acadia Realty Trust.

Sentiment

Score: 7

Explanation: The sentiment is neutral to positive as it reflects standard compensation practices and alignment of director interests with shareholders. There are no indications of negative performance or concerns.

Positives

• The acquisition of shares by a director demonstrates confidence in the company's future prospects.
• The vesting schedules align the director's interests with the long-term performance of the company.

Industry Context

Director share acquisitions are common in REITs as part of compensation packages, aligning management interests with shareholder value.

Comparison to Industry Standards

• Comparing Acadia Realty Trust's director compensation structure to peers like Simon Property Group (SPG) or Public Storage (PSA) shows similar practices of equity-based compensation to align director and shareholder interests.
• The vesting schedules are also in line with industry norms, typically ranging from one to three years.

Related Party Transactions

• The share grants to Lynn C. Thurber are related-party transactions as she is a director of Acadia Realty Trust.

Stakeholder Impact

• The share acquisitions have a minor positive impact on shareholders by aligning the director's interests with the company's long-term performance.

Key Dates

Keywords

Acadia Realty Trust, Director, Share Acquisition, Beneficial Ownership, Trustee Fees, Vesting, AKR