Rationalising school activities through principles of standards, testing and accountability has taken a strong hold and continues to be the dominant logic for educational reform in England. This article examines the ways in which three principals of English academies understand and respond to accountability policies as required by their Multi-Academy Trust (MAT) and external demands. A sensemaking perspective is adopted to explore how school principals come to interpret, negotiate and adapt messages and pressures about accountability policies in their efforts to respond to their local contexts. Based on an analysis of data from three academies, this article highlights the active role of school leaders in the enactment processes of policies related to curriculum and pedagogy, data monitoring, resource allocation and performance management. Findings reveal the variations in the degree of autonomy the participating leaders enjoyed in some of these areas, in which they appeared to interpret and adjust policies as needed to fit their schools and communities. Insights from individual leaders' sensemaking provide an important contribution to research on how academies respond to high-stakes accountability policies in that the meanings leaders make determine the actions and decisions they take on instructional priorities.