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| FORM 4 | U.S. SECURITIES AND EXCHANGE COMMISSION | OMB APPROVAL |
- ----------------------------- Washington, D.C. 20549 |----------------------------
[_] Check this box | OMB Number: 3235-0287 |
if no longer subject STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES | Expires: January 31, 2005 |
to Section 16. Form 4 | Estimated average burden |
or Form 5 obligations Filed pursuant to Section 16(a) of the Securities Exchange | hours per response....0.5 |
may continue. See Act of 1934, Section 17(a) of the Public Utility Holding -----------------------------
Instruction 1(b). Company Act of 1935 or Section 30(h) of the
Investment Company Act of 1940
(Print or Type Responses)
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| 1. Name and Address of | 2. Issuer Name and Ticker or Trading Symbol| 6. Relationship of Reporting Person(s) |
| Reporting Person* | | to Issuer (Check all applicable) |
| |Acadia Realty Trust (AKR) | |
|Bernstein Kenneth F. ---------------------------------------------- |X| Director |_| 10% Owner |
| | 3. IRS | 4. Statement for | |X| Officer (give title |_| Other (specify |
- -------------------------------------- Identification | Month/Day/Year| below) below) |
| (Last) (First) (Middle) | Number of | | |
| | Reporting Person, | 11/22/02 | President/CEO |
|c/o Acadia Realty Trust | Person, if an ---------------------------------------------------------------------
|20 Soundview Marketplace | entity | 5. If Amendment, | 7. Individual or Joint/Group Filing |
- -------------------------------------- (voluntary) | Date of Orig- | (Check Applicable Line) |
| (Street) | | inal (Month/ | |
| | | Day/Year) | |X| Form filed by One Reporting Person |
|Port Washington, NY 11050 | ###-##-#### | | |_| Form filed by More than One Reporting |
| | | | Person |
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| (City) (State) (Zip) | Table I -- Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned |
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| 1. | 2. | 2A. | 3. | 4. | 5. | 6. | 7. |
| Title of Security | Trans- | Deemed | Trans- | Securities Acquired (A) | Amount of | Owner- | Nature of|
| (Instr. 3) | action | Execu- | action | or Disposed of (D) | Securities | ship | Indirect |
| | Date | tion | Code | (Instr. 3, 4 and 5) | Beneficially | Form: | Bene- |
| | | Date, | Instr. 8) | | Owned Follow- | Direct | ficial |
| | (Month/ | if any --------------------------------------------------- ing Reported | (D) or | Owner- |
| | Day/ | (Month/ | | | |(A)| | Transaction(s)| Indirect | ship |
| | Year) | Day/ | | | |or | | (Instr. 3 | (I) | (Instr. |
| | | Year) | Code | V | Amount |(D)| Price | and 4) | (Instr.4) | 4) |
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|Common Shares of | 11/22/02| | P | | 10,000 | | $7.54 | 84,007* | D | |
|Beneficial Interest | | | | | | | | | | |
|$.001 par value | | | | | | | | | | |
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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).
* Mr. Bernstein's beneficial ownership consists of 37,275 vested restricted Common Shares out of a total of 76,284 restricted Common
Shares issued to Mr. Bernstein in 2002, 2001 and 2000, 19,800 shares purchased by Mr. Bernstein on the open market and 26,932 Common
Shares distributed to Mr. Bernstein on December 21, 2001.
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| FORM 4 (continued) Table II -- Derivative Securities Acquired, Disposed of, or Beneficially Owned |
| (e.g., puts, calls, warrants, options, convertible securities) |
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|1. |2. |3. |3A. |4. |5. |6. |
|Title of Derivative Security |Conversion |Trans- |Deemed |Trans- |Number of Derivative Securities |Date Exer- |
|(Instr. 3) |or Exercise|action |Execu- |action |Acquired (A) or Disposed of (D) |cisable and |
| |Price of |Date |tion |Code |(Instr. 3, 4 and 5) |Expiration |
| |Derivative |(Month/ |Date, |(Instr.| |Date |
| |Security |Day/ |if any | 8) | |(Month/Day/ |
| | |Year) |(Month/ | | |Year) |
| | | |Day/ | | |------------------
| | | |Year) | | |Date |Expi- |
| | | | |-----------------------------------------------|Exer- |ra- |
| | | | | | | | |cis- |tion |
| | | | | Code|V| (A) | (D) |able |Date |
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| FORM 4 (continued) Table II (continued) -- Derivative Securities Acquired, Disposed of, or Beneficially Owned |
| (e.g., puts, calls, warrants, options, convertible securities)
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|1. |7. |8. |9. |10. |11. |
|Title of Derivative Security |Title and Amount of Underlying |Price of |Number of Derivative |Ownership|Nature of |
|(Instr. 3) |Securities (Instr. 3 and 4) |Derivative |Securities Bene- |Form of |Indirect |
| | |Security |ficially Owned |Deriv- |Beneficial |
| | |(Instr. 5) |Following Reported |ative |Ownership |
| | | |Transaction(s) |Security:|(Instr. 4) |
| | | |(Instr. 4) |Direct | |
| | | | |(D) or | |
| |----------------------------------------| | |Indirect | |
| | | Amount or | | |(I) | |
| | | Number of | | |(Instr. | |
| | Title | Shares | | |4) | |
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Explanation of Responses:
/s/ Kenneth F. Bernstein 11/22/02
** Intentional misstatements or omissions of facts ----------------------------------- -----------------------
constitute Federal Criminal Violations. See 18 U.S.C. **Signature of Reporting Person Date
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.
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