|ACADIA REALTY TRUST filed this Form DEFA14A on 04/30/2019|
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 email@example.com to discuss any questions you may have.
SPECIAL NOTE REGARDING FORWARD-LOOKING STATEMENTS
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.