Fascitelli Michael D 4

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.