TISCH DANIEL R 4

4 · VORNADO REALTY TRUST · Filed May 22, 2026

AI-generated summary of this filing

Updated May 22, 2026

Vornado (VNO) Director Daniel R. Tisch Receives Restricted Unit Award

What Happened

Daniel R. Tisch, a director of Vornado Realty Trust (VNO), was granted 7,168 restricted units of Vornado Realty L.P. (the Operating Partnership) on May 21, 2026. The grant is reported as an award/derivative (Form 4 code A). No per-unit price or cash value is reported on the filing.

Key Details

Transaction date: May 21, 2026; Form 4 filed May 22, 2026 (filed promptly).
Amount: 7,168 restricted units (derivative interest); price: N/A.
Conversion/repayment terms: Restricted Units are convertible into an equivalent number of Class A Units of the Operating Partnership; Class A Units are redeemable for cash or, at the company's election, one common share per unit (or the cash value of such share).
Vesting and transfer restrictions: The Restricted Units vest immediately but are not transferable while Tisch continues to serve as a trustee, except to convert to Class A Units and redeem them for common shares. Any common shares received upon redemption must be held until he is no longer a trustee.
Shares owned after transaction: not specified in the provided filing summary.

Context

This is an equity award (derivative grant) rather than an open-market purchase or sale; such awards create potential future economic interest tied to the company’s equity but are subject to the stated transfer and holding restrictions. The filing appears timely (next-day filing).

Form 4

Period: 2026-05-21

Director

Transactions

Award
Restricted Units
[F1][F2]
2026-05-21+7,168→ 7,168 total
→ Common Shares (7,168 underlying)

Footnotes (2)

[F1]On May 21, 2026, the reporting person received a grant of restricted units (the "Restricted Units") of Vornado Realty L.P. (the "Operating Partnership"), the Operating Partnership of Vornado Realty Trust (the "Company"). The Restricted Units are a class of units of the Operating Partnership that following the occurrence of certain events are convertible by the holder into an equivalent number of Class A Units of the Operating Partnership. Class A Units are redeemable by the holder for cash or, at the Company's election, common shares of beneficial interest, $0.04 par value per share (the "Common Shares") of the Company on a one for one basis or the cash value of such shares.
[F2]These Restricted Units vest immediately. These units are not transferable until the reporting person is no longer serving as a member of the Company's Board of Trustees, other than in connection with a conversion of the Restricted Units to Class A Units and a redemption of such Class A Units for Common Shares. Any Common Shares issued in connection with such a redemption must be held by the reporting person until such person is no longer a member of the Company's Board of Trustees.

Signature

/s/ Ryan Saum, Attorney-in-Fact|2026-05-22

1 file