Iocco Matthew 4
4 · VORNADO REALTY TRUST · Filed Apr 1, 2020
Insider Transaction Report
Form 4
Iocco Matthew
EVP - Principal Accounting Off
Transactions
- Award
AO RUs
2020-03-30+14,096→ 14,096 totalExp: 2030-01-13→ Common Shares (14,096 underlying) - Award
Restricted Units
2020-03-30+3,070→ 3,070 total→ Common Shares (3,070 underlying)
Footnotes (4)
- [F1]On March 30, 2020, 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" or "VNO"). The Restricted Units are a class of units of the Operating Partnership that following the occurrence of certain events and upon vesting are convertible bythe 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, 2021.
- [F3]On March 30, 2020, the reporting person received a grant of appreciation only restricted units (the "AO RUs") 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, 2021. The right to convert the AO RUs into Class A units has a maximum term of 10years. The right to redeem Class A Units does not have an expiration date.