FORM 4
[ ] Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).         
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES
                                                                                  
OMB APPROVAL
OMB Number: 3235-0287
Expires: February 28, 2011
Estimated average burden
hours per response... 0.5
                      
Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public
Utility Holding Company Act of 1935 or Section 30(f) of the Investment Company Act of 1940
                      

1. Name and Address of Reporting Person *

BRAUN JOEL L 		2. Issuer Name and Ticker or Trading Symbol

ACADIA REALTY TRUST [ AKR ] 		5. Relationship of Reporting Person(s) to Issuer (Check all applicable)

_____ Director                      _____ 10% Owner
__ X __ Officer (give title below)      _____ Other (specify below)
Executive Vice President
(Last)          (First)          (Middle)

C/O ACADIA REALTY TRUST, 1311 MAMARONECK AVENUE, SUITE 260 		3. Date of Earliest Transaction (MM/DD/YYYY)

1/6/2009
(Street)

WHITE PLAINS, NY 10605
(City)        (State)        (Zip)
4. If Amendment, Date Original Filed (MM/DD/YYYY)

 
6. Individual or Joint/Group Filing (Check Applicable Line)

_ X _ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3) 		2. Trans. Date 2A. Deemed Execution Date, if any 3. Trans. Code
(Instr. 8) 		4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5) 		5. Amount of Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 3 and 4) 		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V Amount (A) or (D) Price
Common Shares of Beneficial Interest - $.001 Par Value   1/6/2009     F    15991   (1) D $14.43   85079   D    
Common Shares of Beneficial Interest - $.001 Par Value   1/6/2009     M    36981   (2) A $0   122060   D    
Common Shares of Beneficial Interest - $.001 Par Value   1/6/2009     F    16198   (3) A $14.43   105862   (4) D    

Table II - Derivative Securities Beneficially Owned ( e.g. , puts, calls, warrants, options, convertible securities)
1. Title of Derivate Security
(Instr. 3) 		2. Conversion or Exercise Price of Derivative Security 3. Trans. Date 3A. Deemed Execution Date, if any 4. Trans. Code
(Instr. 8) 		5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5) 		6. Date Exercisable and Expiration Date 7. Title and Amount of Securities Underlying Derivative Security
(Instr. 3 and 4) 		8. Price of Derivative Security
(Instr. 5) 		9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) 10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4) 11. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Deferred Common Shares of Beneficial Interest - Equivalent   $0   1/6/2009     M        36981      (2)   (2) Deferred Common Shares   36981   $0   0   (5) D    

Explanation of Responses:
( 1)  Mr. Braun canceled these shares in order to satisfy his tax obligation arising from the vesting of 36,509 Shares previously granted as Restricted Shares.
( 2)  Mr. Braun acquired these Shares on December 17, 2004, when they were placed in a deferred account, pursuant to an Agreement with the Company. Those deferred Shares are now being converted to unrestricted, Common Shares.
( 3)  Mr. Braun canceled these Shares in order to satisfy his tax obligation arising from the conversion of the deferred Shares to Common Shares.
( 4)  This number represents 59,095 unvested, Restricted Shares and 46,767 vested Shares.
( 5)  Mr. Braun no longer owns any Deferred Common Shares. He does, however, own 13,240 Options to purchase Common Shares; 25,024 restricted limited partnership units in Acadia Realty Limited Partnership (LTIPS); 5,604 unrestricted LTIP Units; and 6,667 common limited partnership units in Acadia Realty Limited Partnership (OP Units).

Reporting Owners
Reporting Owner Name / Address
Relationships
Director 10% Owner Officer Other
BRAUN JOEL L
C/O ACADIA REALTY TRUST
1311 MAMARONECK AVENUE, SUITE 260
WHITE PLAINS, NY 10605

Executive Vice President

Signatures
/s/ Joel Braun 1/8/2009
** Signature of Reporting Person Date


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).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 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.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number.
Acadia Realty (NYSE:AKR)
Historical Stock Chart
From Aug 2024 to Sep 2024 Click Here for more Acadia Realty Charts.
Acadia Realty (NYSE:AKR)
Historical Stock Chart
From Sep 2023 to Sep 2024 Click Here for more Acadia Realty Charts.