UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of Earliest Event Reported): June 12, 2008
ACADIA REALTY TRUST
(Exact name of registrant as specified in its charter)
Maryland 1-12002 23-2715194
(State or other (Commission (I.R.S. Employer
jurisdiction of incorporation) File Number) Identification No.)
1311 Mamaroneck Avenue
Suite 260
White Plains, New York 10605
(Address of principal executive offices) (Zip Code)
(914) 288-8100
(Registrant's telephone number, including area code)
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligation of the registrant under any of the
following provisions:
[ ] Written communications pursuant to Rule 425 under the Securities Act
(17 CFR 230.425 )
[ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act
(17 CFR 240.14a-12)
[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange
Act (17 CFR 240.14d-2(b))
[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange
Act (17 CFR 240.13e-4(c))
Item 5.02 Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On June 12, 2008, Acadia Realty Trust (the "Company") entered into Amended and
Restated Severance Agreements (the "Agreements") with Joel Braun, Executive Vice
President and Chief Investment Officer; Michael Nelsen, Senior Vice President
and Chief Financial Officer; Robert Masters, Senior Vice President, General
Counsel, Chief Compliance Officer and Secretary; and Joseph Hogan, Senior Vice
President and Director of Construction (collectively, the "Senior Officers").
The Agreements are effective as of June 12, 2008 and amend the existing
severance agreements to provide that a Senior Officer's estate will be entitled
to certain benefits specified in Section 3 of the Agreements upon the Senior
Officer's death. Previously, no such death benefits were provided. In addition,
certain technical amendments were made in accordance with Section 409A of the
Internal Revenue Code.
The foregoing brief description of the amendments is qualified in its entirety
by reference to the form of Agreement filed herewith as Exhibit 10.1, which is
incorporated into this Item 5.02 by reference.
Item 9.01. Financial Statements, Pro Forma Financial Information and Exhibits
(a) Financial Statements
Not Applicable
(b) Pro Forma Financial Information
Not Applicable
(c) Shell Company Transactions
Not Applicable
(d) Exhibits
Exhibit Number Description
-------------- --------------------------------
10.1 Form of Amended and Restated Severance Agreement dated June
12, 2008 between the Company and Senior Officers.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
ACADIA REALTY TRUST
(Registrant)
Date: June 12, 2008 By: /s/ Michael Nelsen
------------------
Name: Michael Nelsen
Title: Chief Financial Officer and
Senior Vice President
EXHIBIT INDEX
Exhibit Number Description
-------------- --------------------------------
10.1 Form of Amended and Restated Severance Agreement dated June
12, 2008 between the Company and Senior Officers.