KENNEDY CHRISTOPHER 4
4 · VORNADO REALTY TRUST · Filed Oct 28, 2010
Insider Transaction Report
Form 4
KENNEDY CHRISTOPHER
President - Merchandise Mart
Transactions
- Other
Common Shares
2010-10-27+39,552→ 133,947 total - Other
Class A Units
2010-10-27−39,552→ 0 total→ Common Shares (31,522 underlying)
Footnotes (3)
- [F1]Common shares of beneficial interest, par value $.04 per share (the "Common Shares"), of Vornado Realty Trust were issued upon the redemption and tender of Class A units ("Class A Units") of Vornado Realty L.P. on a one for one basis. 13,460 of these common shares are subject to restrictions on transfer imposed by Vornado Realty Trust of which 312 common shares expire on April 1, 2011, 11,436 common shares expire on March 14, 2011 and 570 expire on March 31, 2011, 571 on March 31, 2012 and 571 expire on March 31, 2013. Based upon the closing price of the Company's Common Shares on October 27, 2010 of $88.76 per share, approximately 18% of these restricted Common Shares may be disposed of by the Reporting Person to pay applicable capital gain income taxes.
- [F2]Class A Units may be redeemed at the election of the holder, in whole or in part for cash equal to the fair market value, at the time of redemption, of one Common Share for each Class A Unit redeemed or, at the option of Vornado Realty Trust, one such Common Share for each Class A Unit tendered for redemption.
- [F3]These Class A Units are immediately redeemable (subject to certain limitations set forth in the Vornado Realty L.P.'s limited partnership agreement). Class A Units have no expiration date.