X0306 4 2013-02-11 0 0000899629 ACADIA REALTY TRUST AKR 0001218913 NAPOLITANO JOSEPH C/O ACADIA REALTY TRUST 1311 MAMARONECK AVENUE, SUITE 260 WHITE PLAINS NY 10605 0 1 0 0 Sr. Vice President Common Shares of Beneficial Interest - $.001 Par Value 2013-02-11 4 C 0 11000 A 11118 D Common Shares of Beneficial Interest - $.001 Par Value 2013-02-13 4 S 0 11000 26.81 D 118 D Limited Partnership Units 2013-02-11 4 C 0 11000 D Operating Partnership Units 11000 59740 D Operating Partnership Units 2013-02-11 4 C 0 11000 A Operating Partnership Units 11000 11000 D Operating Partnership Units 2013-02-11 4 C 0 11000 D Common Shares 11000 0 D These limited partnership units ("LTIP Units") in Acadia Realty Limited Partnership ("ARLP") represent a portion of the LTIPs that were granted to Mr. Napolitano on January 31, 2008 and March 5, 2009, 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 Acadia Realty Operating Partnership ("OP Units") which, in turn, are exchangeable on a 1:1 basis for common shares of beneficial interest of Acadia Realty Trust. There is no expiration date for the conversion of LTIP Units or OP Units. These shares were sold in 61 separate sales transactions at a weighted average sales price of $26.81. The actual price at which these shares were sold range from $26.75 to $26.93 per share. Mr. Napolitano 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. This number represents the total number of shares held (all vested) by Mr. Napolitano. This number represents the total number of LTIP Units (22,783 vested and 36,957 unvested) held by Mr. Napolitano following the conversion of 11,000 LTIP Units into an equal number of OP Units reported in this Form 4. This number represents the total number of OP Units held by Mr. Napolitano following the conversion of 11,000 LTIP Units into an equal number of OP Units reported in this Form 4. This number represents the total number of OP Units held by Mr. Napolitano following the conversion of 11,000 OP Units into an equal number of Common Shares reported in this Form 4. Joseph Napolitano 2013-02-13