SEC Filings

ACADIA REALTY TRUST filed this Form DEF 14A on 03/26/2019
Entire Document


Elements of Pay


Links to Performance


Base Salary

Fixed Cash

Determined based on:

Evaluation of individual’s experience

Current performance

Internal pay equity and a comparison to peer group

Recognize ongoing performance of job responsibilities and contributions to Company success

Promote executive retention and recruitment

Annual Cash Bonus

Variable Incentive
(Cash and LTIP Units)

Correlates each individual payout to specific corporate and individual performance goals:

Corporate financial targets (50% weighting);

Executing the Strategic Plan (25% weighting); and

Individual performance (25% weighting)

Employees may elect to receive all or a portion of their cash bonus in restricted LTIP Units at a 20% discount which vest ratably over a five-year period

Reward the achievement of short-term corporate objectives and individual contributions on an annual basis

Ensure transparency of performance-basis for payouts

Create alignment between management and shareholders

Long-Term Incentives

Time-Based LTIP Units

50% of total award granted in time-based LTIP Units that vest ratably over a five-year period based on continued service

Subject recipients to the same market fluctuations as shareholders

Support the retention of executives

Reinforce the alignment of our NEOs interests with our shareholders’ interests over the long-term

Ensure that management maintains a long-term focus that serves the best interests of the Company

Performance-Based LTIP Units

50% of total award granted in performance-based LTIP Units that vest between 0% and 200% of target performance based upon achievement of specified relative TSR hurdles at the end of a three-year performance period:

2/3 based on relative TSR compared to the SNL U.S. REIT Retail Shopping Center Index

1/3 based on relative TSR compared to the SNL U.S. REIT Retail Index

60% of any earned units vest at the end of the performance period, and the remaining 40% of earned units vest ratably over the next two years

Enhance the pay-for-performance structure and shareholder alignment

Motivate and reward senior management for superior TSR performance