Fascitelli Michael D 4
4 · VORNADO REALTY TRUST · Filed May 22, 2026
Research Summary
AI-generated summary of this filing
Vornado (VNO) Director Michael Fascitelli Receives Award
What Happened
Michael D. Fascitelli, a director of Vornado Realty Trust, was granted 7,168 restricted units of Vornado Realty L.P. on May 21, 2026. The grant is reported as a derivative acquisition (code A); no price per unit or total dollar value is provided. The Restricted Units vest immediately but carry transfer and holding restrictions while he remains a member of the Company’s Board of Trustees.
Key Details
- Transaction date: May 21, 2026; Form 4 filed May 22, 2026 (timely).
- Security/amount: 7,168 Restricted Units of Vornado Realty L.P. (derivative interest). Price: N/A.
- Ownership after transaction: not specified in the filing.
- Footnotes:
- The Restricted Units convert, after certain events, into equivalent 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 cash value).
- Units vest immediately but are not transferable while Fascitelli serves on the Board; any common shares issued on redemption must be held until he leaves the Board.
- Timeliness: Filing appears timely (reported the next day).
Context
Restricted unit grants are a form of compensation rather than an open-market purchase or sale; they do not by themselves indicate a trading view of the stock. Because these are convertible partnership units with holding restrictions, they function as long-term compensation that can eventually result in cash or common shares if converted and redeemed.
Insider Transaction Report
- 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.