Iocco Matthew 4
4 · VORNADO REALTY TRUST · Filed Jan 17, 2018
Insider Transaction Report
Form 4
Iocco Matthew
EVP - Principal Accounting Off
Transactions
- Award
Restricted Units
2018-01-12+3,453→ 3,453 total→ Common Shares (3,453 underlying) - Award
Restricted AO Units
2018-01-12+13,277→ 13,227 totalExp: 2028-01-12→ Common Shares (13,277 underlying)
Footnotes (4)
- [F1]On January 12, 2018, 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"). Class A Units of the Operating Partnership 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]The Restricted Units vest in equal portions over a four-year period with the initial vesting occurring on January 10, 2019.
- [F3]On January 12, 2018, the reporting person received a grant of appreciation only restricted units (the "AO RU's of the Operating Partnership. The AO RUs 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 determined by reference to the increase in the value of a VNO common share at the time of conversion over the value of a VNO common share at the time of grant. Class A Units of the Operating Partnership 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.
- [F4]The AO RUs vest in equal portions over a four-year period with the initial vesting occurring on January 10, 2019. The right to convert the AO RUs into Class A units has a maximum term of 10 years.