SEC Filings

ACADIA REALTY TRUST filed this Form DEFA14A on 04/30/2019
Entire Document


Developing short & long-term initiatives consistent with the current economic environment and forecasts


-Actively oversees and monitors the Company’s investment portfolio and keeps abreast of the current retail and larger macroeconomic forecasts

-Leveraged the low-rate environment to pay off revolving credit

-Re-purchased 2.3 million shares at an average cost per share of approximately $24, taking advantage of mispricing in the retail REIT

Success in interfacing with Board to develop Company strategy to ensure shareholder value is maximized over the long-term

-Communicates to the Board the Company’s investment opportunities and strategies on a regular basis

-Led strategic reviews presented to the Board through 2018

Stewardship at the top of organization, and success in interfacing with major institutional investors and JV partners.


-Regularly engages with the executive management team to suggest ideas and effectively execute the Company’s overall strategy

-Presented at several conferences (including NAREIT’s REITweek) and maintained communication with major institutional investors and JV partners

-Acadia was recipient of the 2018 NAREIT Gold Investor CARE Award


Benefits of the Bonus Exchange Program

Consistent with the Company’s focus on creating long-term shareholder value, our compensation program includes a bonus exchange program that encourages our employees to elect to receive time-vested LTIP Units in lieu of cash. Any portion of the cash bonus elected to be received in LTIP Units receives a 20% discount, with such Units subject to a long-term, five-year vesting period.  The Compensation Committee believes that this feature serves to reinforce a long-term focus by Management and promote retention.

Further, the 20% discount value is factored into each executive officer’s pay opportunity to ensure that the deferral would not result in compensation in excess relative to our peers.  By example, our CEO’s total target compensation is set at the median of our executive compensation peer group for 2018, inclusive of the discount.


Proxy advisory firm ISS has recommended a vote Against Proposal No. 3. The Board of Trustees hopes you will consider the above supplementary facts before you vote your shares.  Please read the complete proxy statement and accompanying materials carefully before you vote your shares.

The Board of Trustees recommend that you vote “FOR” Proposal No. 3. We encourage our shareholders to reach out directly to Jason Blacksberg at 914-288-8138 or to discuss any questions you may have.


Certain statements contained in this schedule may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities and Exchange Act of 1934, as amended, and as such may involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements to be materially different from future results, performance or achievements expressed or implied by such forward-looking statements. Forward-looking statements, which are based on certain assumptions and describe our future plans, strategies and expectations are generally identifiable by use of the words “may,” “will,” “should,” “expect,” “anticipate,” “estimate,” “believe,” “intend” or “project” or the negative thereof or other variations thereon or comparable terminology. The Company can go no assurance that such expectations will be achieved and undertakes no obligation to publicly update or revise any forward-looking statements.