VORNADO REALTY TRUST 4
4 · VORNADO REALTY TRUST · Filed May 23, 2016
Insider Transaction Report
Form 4
KOGOD ROBERT P
Director
Transactions
- Award
Restricted Units
2016-05-19+1,363→ 1,363 total→ Common Shares (1,363 underlying)
Footnotes (2)
- [F1]On May 19, 2016, 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 and upon vesting 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 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.