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SL GREEN REALTY CORP·4

Feb 17, 7:17 PM ET

HOLLIDAY MARC 4

Research Summary

AI-generated summary

Updated

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.