AKR ACADIA REALTY TRUST

Did the company actually spend money buying back stock in 3+ of the last 4 quarters?

Bought back stock in 3/4 quarters. Q2 2020: $0M, Q1 2020: $22M, Q3 2019: $0M, Q2 2019: $23M

Is the most recent quarter's buyback spend more than 15% above the trailing average?

Latest quarter $0M vs trailing avg $15M (-100%)

What percentage of free cash flow is going to buybacks? Bull: 30-80%. Bear: <10% or >80%.

Missing buyback or cash flow data

How fast are they shrinking the float? Bull: 2%+ annually. Bear: under 0.5%.

Repurchased 0 shares = 0.0% of 119,657,594 outstanding (annualized)

Are officers and directors buying stock with their own money on the open market?

2 open-market purchases by 2 insiders

• ZOBA C DAVID () bought 1,000 shares at $16.30 on 2024-03-15
• CROCKER DOUGLAS II () bought 28,250 shares at $12.90 on 2023-05-24

Are insider purchases happening during the same quarters the company is actively buying back stock?

Insider buying coincided with company buybacks in 0 of 4 quarters

Looking at all open-market transactions, are insiders net buyers or net sellers?

Insiders bought $0M, sold $11M (net selling)

Active buyback + insiders net selling 3x+ more than buying. Company cash may be supporting price while insiders exit.

Company buying back stock while insiders sold 27.9x more than bought. 4 C-suite officers among sellers

• Blacksberg Jason (EVP and Chief Legal Officer) sold 30,000 shares on 2025-03-06
• Gottfried John J. (Executive VP and CFO) sold 12,000 shares on 2025-02-19
• Gottfried John J. (Executive VP and CFO) sold 12,500 shares on 2024-05-03
• Gottfried John J. (Executive VP and CFO) sold 12,500 shares on 2023-11-14
• Blacksberg Jason (Sr. VP and Chief Legal Officer) sold 7,000 shares on 2023-11-14
• Gottfried John J. (Executive VP and CFO) sold 15,000 shares on 2022-03-14
• Conlon Christopher (Executive Vice President) sold 10,000 shares on 2021-12-14
• Gottfried John J. (Sr. VP and CFO) sold 10,500 shares on 2021-02-24
• Gottfried John J. (Sr. VP and CFO) sold 30,000 shares on 2019-07-24
• Conlon Christopher (Executive Vice President) sold 20,000 shares on 2019-06-06