HOLLIDAY MARC 4
4 · SL GREEN REALTY CORP · Filed Feb 17, 2026
Research Summary
AI-generated summary of this filing
SL Green (SLG) CEO Marc Holliday Receives 361,929 LTIP Units
What Happened
- Marc Holliday, President & CEO (and Director) of SL Green Realty Corp. (SLG), received three grants totaling 361,929 LTIP Units on 2026-02-12: 110,387 units, 125,771 units, and 125,771 units. These were awards (price reported $0.00) — derivative compensation, not open‑market purchases or sales. The grants include a mix of (a) a new employment‑agreement LTIP award and (b) LTIP units issued under existing equity programs that vested based on prior performance.
Key Details
- Transaction date: 2026-02-12; Form filed: 2026-02-17 (filed on the next business day after the Feb. 16 federal holiday; appears timely).
- Consideration: $0.00 (awarded LTIP Units, reported as derivative acquisitions).
- Total units granted: 361,929 LTIP Units (110,387; 125,771; 125,771).
- Shares owned after transaction: Not specified in the Form 4 filing.
- Notable terms from footnotes:
- The 110,387 LTIP Units (employment award) vest in equal installments on Jan 1, 2027; Jan 1, 2028; and Jan 1, 2029, subject to continued employment, and may be adjusted upward by up to 200% after a three‑year performance period ending 12/31/2027 based on operational metrics.
- The 125,771 + 125,771 LTIP Units were earned under 2023 grants (based on total shareholder return for 2023–2025) and vested in full on 12/31/2025; these vested units are subject to additional no‑sell/restriction periods described below.
- LTIP Units can be converted to Common Units of SL Green Operating Partnership, L.P., and Common Units may be redeemed for cash equal to the fair market value of SLG common stock (or, at the issuer’s election, exchanged for shares). Redemption/conversion rights and transferability are subject to timing and tax‑related conditions.
- Additional transfer restrictions: some LTIP Units/Common Units are subject to two‑year or three‑year no‑sell provisions (restrictions on transfer and redemption) that run from grant/vesting dates or earlier of termination/change‑in‑control.
Context
- These entries are awards (compensation) rather than purchases or sales; they don’t necessarily signal near‑term insider sentiment about the stock price. The grants include performance‑based features (possible increase up to 200% for the employment award) and multi‑year vesting and transfer restrictions, so economic value is deferred and contingent on continued employment and/or performance.
Insider Transaction Report
Form 4
HOLLIDAY MARC
DirectorPRESIDENT & CEO
Transactions
- Award
LTIP Units
[F1][F2][F3]2026-02-12+110,387→ 1,365,031 total→ Common Stock (110,387 underlying) - Award
LTIP Units
[F4][F2]2026-02-12+125,771→ 1,490,802 total→ Common Stock (125,771 underlying) - Award
LTIP Units
[F5][F2]2026-02-12+125,771→ 1,616,573 total→ Common Stock (125,771 underlying)
Footnotes (5)
- [F1]Represents LTIP Units granted pursuant to an employment agreement dated as of December 27, 2024 between the reporting person and the Issuer, as amended by the first amendment thereto dated as of June 24, 2025, which LTIP Units vest in equal installments on each of January 1, 2027, January 1, 2028, and January 1, 2029, subject to continued employment. This amount may be adjusted upwards by up to 200% at the conclusion of a three-year performance period ending December 31, 2027 based on the Issuer's achievement of certain operational performance metrics during such period.
- [F2]Represents LTIP Units issued pursuant to the Issuer's equity based compensatory programs. Conditioned upon minimum allocations to the capital accounts of the LTIP Units for federal income tax purposes, each vested LTIP Unit may be converted, at the election of the holder, into a Class A Unit of limited partnership interest in SL Green Operating Partnership, L.P. (a "Common Unit"). Each Common Unit acquired upon conversion of an LTIP Unit may be presented for redemption, at the election of the holder, for cash equal to the then fair market value of a share of the Issuer's Common Stock, except that the Issuer may, at its election, acquire each Common Unit so presented for one share of Common Stock. The redemption right generally cannot be exercised until two years from the date of the grant. The rights to convert LTIP Units into Common Units and redeem Common Units do not have expiration dates.
- [F3]Each LTIP Unit and Common Unit acquired upon conversion of such LTIP Unit is subject to an additional three-year no-sell provision pursuant to which such LTIP Unit and Common Unit generally may not be transferred, and the redemption right associated with the Common Unit may not be exercised, until the earlier of (i) three years after the grant date, (ii) termination of the reporting person's employment or (iii) a change in control of the Issuer.
- [F4]Represents LTIP Units originally issued in January 2023 that were earned based on the Issuer's total stockholder return during the period from January 1, 2023 through December 31, 2025, relative to a group of New York City-centric publicly traded real estate investment trusts. The LTIP Units vested in full on December 31, 2025. Each LTIP Unit and Common Unit acquired upon conversion of such LTIP Unit is subject to an additional two-year no-sell provision pursuant to which such LTIP Unit and Common Unit generally may not be transferred, and the redemption right associated with the Common Unit may not be exercised, until the earlier of (i) two years after the vesting date, (ii) termination of the reporting person's employment or (iii) a change in control of the Issuer.
- [F5]Represents LTIP Units originally issued in January 2023 that were earned based on the Issuer's total stockholder return during the period from January 1, 2023 through December 31, 2025, relative to the constituent companies of the Dow Jones US Real Estate Office Index at the start of such period that remained publicly traded at the conclusion of such period. The LTIP Units vested in full on December 31, 2025. Each LTIP Unit and Common Unit acquired upon conversion of such LTIP Unit is subject to an additional two-year no-sell provision pursuant to which such LTIP Unit and Common Unit generally may not be transferred, and the redemption right associated with the Common Unit may not be exercised, until the earlier of (i) two years after the vesting date, (ii) termination of the reporting person's employment or (iii) a change in control of the Issuer.
Signature
/s/ Marc Holliday|2026-02-17