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ACADIA REALTY TRUST Director's Dealing 2012

Sep 14, 2012

31420_dirs_2012-09-14_63d3d0b1-7831-418f-b9f5-2cf429802709.zip

Director's Dealing

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SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: ACADIA REALTY TRUST (AKR)
CIK: 0000899629
Period of Report: 2012-09-13

Reporting Person: LUSCOMBE WENDY W (Director)

Non-Derivative Transactions

Date Security Code Shares Price A/D Holdings After Ownership
2012-09-13 Common Shares of Beneficial Interest - $.001 Par Value M 2000 $14.13 Acquired 8050 Direct
2012-09-13 Common Shares of Beneficial Interest - $.001 Par Value S 2000 $25.33 Disposed 6050 Direct

Derivative Transactions

Date Security Exercise Price Code Shares A/D Expiration Underlying Ownership
2012-09-13 Options to Purchase Common Shares $14.13 M 2000 Disposed 2014-08-04 Common Shares (2000) Direct

Footnotes

F1: This number represents only vested, unrestricted Shares. Please note that 264 Shares were previously incorrectly included in the "non-derivative" securities total. Those shares have been deducted from this reported total amount of securities beneficially owned following this transaction and moved over to the total of derivative securities owned by Ms. Luscombe.

F2: These shares were sold in five separate sales transactions at a weighted average sales price of $25.33. The actual price at which these shares were sold range from $25.31 to $25.35 per share. Ms. Luscombe will provide, upon the request of 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.

F3: On May 13, 2012, Ms. Luscombe exercised 2,000 Options to purchase Common Shares of Beneficial Interest.

F4: This number represents only the total number of Options owned by Ms. Luscombe.