Kenneth A. McIntyre
About Kenneth A. McIntyre
Kenneth A. McIntyre (age 64) has served as an independent Trustee of Acadia Realty Trust since March 2021. He brings 25+ years in commercial real estate, currently serving as CEO of the Real Estate Executive Council and Managing Principal of PassPort Real Estate; prior roles include senior positions at MetLife Real Estate Investments, Hudson City Savings Bank (Head of Commercial Real Estate, May 2014–May 2016), and origination/relationship leadership at KeyBank, GE Capital, UBS, and Chase. He earned a B.S. in Economics (Finance) from Florida A&M University . The Board has affirmatively determined he is independent under NYSE standards .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Real Estate Executive Council (REEC) | Chief Executive Officer | Not disclosed | Industry leadership; minority executive advocacy |
| PassPort Real Estate, LLC | Founder & Managing Principal | Not disclosed | Real estate, infrastructure, diversity consulting |
| Hudson City Savings Bank | SVP & Head of Commercial Real Estate | May 2014–May 2016 | Led CRE function |
| MetLife Real Estate Investments | Managing Director; voting member of Investment Committee for Commercial Mortgages | Not disclosed | Investment committee experience |
| Port Authority of NY & NJ | Executive Advisor, Office of Diversity & Inclusion | Not disclosed | Diversity strategy |
| The Real Estate Associates Program (REAP) | Executive Director | Not disclosed | Talent diversity in CRE |
| KeyBank; GE Capital; UBS; Chase | Senior origination & relationship management roles | Not disclosed | CRE origination/relationship leadership |
External Roles
| Organization | Role | Committees |
|---|---|---|
| Newmark Group, Inc. (Nasdaq: NMRK) | Director | Chair of ESG and Audit Committees; member of Compensation Committee |
| Real Estate Board of New York | Board of Governors | Governance role |
| Yorkville Youth Athletic Association | Board member | Community engagement |
| National Jazz Museum of Harlem | Board member | Non-profit oversight |
Board Governance
- Independence: Determined independent under NYSE standards; Board committees (Audit, Compensation, Nominating & Corporate Governance) comprise independent members .
- Committees (AKR):
- Audit Committee member since 2023; the Board recognizes Mr. McIntyre as an “audit committee financial expert” under SEC rules .
- Investment/Capital Markets Committee member since 2024; committee oversees investment thresholds, non-delegated transactions, and acts as pricing committee with Lead Independent Trustee for equity offerings .
- Attendance: In 2024, each incumbent Trustee attended at least 75% of Board and committee meetings on which they served; all Trustees virtually attended the 2024 Annual Meeting .
- Audit Committee composition and chair: Audit Committee members were Denien (Chair), Thurber, McIntyre, and Spitz—all independent; Committee reviewed 2024 audited financials and recommended inclusion in 10-K .
Fixed Compensation
| Component (2024) | Amount (USD) |
|---|---|
| Fees Earned or Paid in Cash | $75,000 |
| Stock Awards (grant-date fair value) | $100,182 |
| Option Awards | — |
| Non-Equity Incentive Plan Compensation | — |
| Change in Pension Value/Deferred Comp Earnings | — |
| All Other Compensation | $14,665 |
| Total | $189,847 |
| Trustee Retainer Structure | 2024 | 2025 |
|---|---|---|
| Annual cash fee (standard non-employee Trustees) | $75,000 | $80,000 |
| Annual equity fee (RSUs or Restricted LTIP Units) | $100,000 | $120,000 |
| Committee Chair Fees (Audit / Other) | $25,000 / $15,000 | $25,000 / $20,000 |
- Equity vesting: Trustee RSUs/Restricted LTIP Units vest 33% annually over three years; dividends on RSUs cumulate and pay at vest; Trustees may elect to convert cash fees into stock/OP units with one-year vest at a 10% discount to the 20-day average price following the Annual Meeting .
- Compensation mix (2024, computed): Cash ≈ 39.5% ($75,000 / $189,847) ; Stock awards ≈ 52.8% ($100,182 / $189,847) ; All other ≈ 7.7% ($14,665 / $189,847) .
Performance Compensation
| Element | Detail |
|---|---|
| Performance-based metrics | None for Trustee grants; director equity awards are time-based (RSUs/Restricted LTIP Units) . |
| Stock options | None granted to Trustees in 2024; no outstanding options reported for Mr. McIntyre . |
| Outstanding unvested equity (12/31/2024) | 1,579 (grant 5/5/2022), 5,005 (grant 5/4/2023), 5,862 (grant 5/2/2024); total 12,446 units, market value $300,696 . |
Other Directorships & Interlocks
| Company | Role | Committees | Interlock Notes |
|---|---|---|---|
| Newmark Group, Inc. (NMRK) | Director | Chair, Audit & ESG; Member, Compensation | AKR discloses no compensation committee interlocks or insider participation during 2024 . |
Expertise & Qualifications
- Audit committee financial expert designation (SEC definition) with service on another public company board; brings executive and financial management experience and extensive CRE expertise across asset types including retail .
- Prior leadership in diversity and inclusion (Port Authority) and talent pipeline development (REAP) .
- 25+ years in CRE, including investment committee participation and senior lending/origination roles .
- Education: B.S. in Economics, Finance concentration (Florida A&M University) .
Equity Ownership
| Item | Amount | Notes |
|---|---|---|
| Beneficial ownership (as of 3/11/2025) | 11,776 | Percent of class: * (less than 1% per table) |
| Composition | 1,242 Common Shares; 10,534 LTIP Units | Excludes 12,446 Restricted LTIP Units (unvested) |
| Unvested equity | 12,446 Restricted LTIP Units/RSUs | 6,036 scheduled to vest within 60 days (as of table date) |
| Outstanding unvested grants | 1,579 (5/5/2022); 5,005 (5/4/2023); 5,862 (5/2/2024) | Market value $300,696 at 12/31/2024 |
| Ownership guidelines | Non-employee Trustees: 5x total annual cash fees; satisfied (exception noted only for Ms. Woodhouse) | |
| Hedging/pledging | Prohibited for Trustees and employees; all in compliance as of proxy date |
Governance Assessment
- Independence and expertise: Independent Trustee with Audit Committee Financial Expert designation, serving on AKR’s Audit and Investment/Capital Markets Committees; enhances board oversight in financial reporting and capital allocation .
- Engagement: Met attendance thresholds (≥75%) for Board and committee meetings in 2024 and attended the Annual Meeting, indicating baseline engagement; committee meeting cadence (Audit: 5 telephonic; Compensation: 3; Nominating: 4; Board: 6) supports active governance .
- Alignment: Director pay mix tilts to equity, with time-based vesting and robust ownership guidelines (5x cash fees) met, plus anti-hedging/anti-pledging policy—positive alignment signals for investors .
- Other board roles: Chairs Audit & ESG at Newmark while on AKR’s Audit Committee; no compensation committee interlocks reported and independence affirmed—limited conflict risk per disclosures .
- RED FLAGS: None disclosed regarding related-party transactions (Item 404), pledging, hedging, or options repricing; no trustee deferrals in 2024; no timing of equity grants around MNPI .