TISCH DANIEL R 4

What Happened
Daniel R. Tisch, a director of Vornado Realty Trust (VNO), made three open-market purchases of the company's common shares between Feb 27 and Mar 3, 2026. He acquired 45,000 shares on 2026-02-27 at a weighted average price of $27.70 ($1,246,500), 40,000 shares on 2026-03-02 at $27.09 ($1,083,500), and 70,000 shares on 2026-03-03 at $26.30 ($1,841,000) — a total of 155,000 shares for about $4.17 million. These were outright purchases (code P), which are typically considered more informative than routine sales.

Key Details

• Transaction dates and prices:
  • 2026-02-27: 45,000 shares at $27.70 (weighted avg; actual prices ranged $27.50–$27.80) — $1,246,500 (footnote F2)
  • 2026-03-02: 40,000 shares at $27.09 (weighted avg; range $26.90–$27.20) — $1,083,500 (footnote F3)
  • 2026-03-03: 70,000 shares at $26.30 (weighted avg; range $25.85–$26.75) — $1,841,000 (footnote F4)
• Total purchased: 155,000 shares for approximately $4.17M.
• Shares owned after transaction: not specified in the provided Form 4 excerpt.
• Footnotes: F1 confirms these are Common Shares (par $0.04). F2–F4 note the reported prices are weighted averages with price ranges; the filer can provide per-price breakdowns on request.
• Filing: Form 4 was filed on 2026-03-03 (Accession 0001111794-26-000008). The filing does not indicate a tardy filing status.

Context

• These were direct open-market purchases (transaction code P), not option exercises or gifts. Purchases by insiders can be viewed by investors as a potentially bullish signal, but they do not prove future performance.
• No 10% ownership, tax-withholding, or 10b5-1 plan disclosures were indicated in the supplied details.