LEVINE ANDREW S 4
4 · SL GREEN REALTY CORP · Filed Feb 3, 2026
Research Summary
AI-generated summary of this filing
SL Green (SLG) Chief Legal Officer Andrew Levine Sells 10,830 Shares
What Happened
Andrew S. Levine, Chief Legal Officer & General Counsel of SL Green Realty Corp (SLG), recorded a disposition to the issuer on 2026-01-30 of 10,830 shares at $46.17 per share, yielding $500,021. The transaction is reported as a derivative-related disposition tied to long‑term incentive plan (LTIP) units rather than an open‑market sale.
Key Details
- Transaction date: January 30, 2026
- Transaction type/code: Disposition to the issuer (D) — derivative (LTIP unit conversion and redemption)
- Price and amount: 10,830 shares at $46.17/share for total proceeds of $500,021
- Shares owned after transaction: Not specified in the provided excerpt of the filing (check the full Form 4 for holdings)
- Footnotes:
- F1: Shares originated as LTIP Units that vest and can be converted by the holder into Common Units of SL Green Operating Partnership, L.P.; Common Units can then be redeemed for cash equal to fair market value of a share, or converted to shares at the issuer’s election. Redemption rights generally cannot be exercised until two years after grant.
- F2: Per the partnership agreement, the LTIP Units were converted to Common Units and those Common Units were redeemed for cash; redemption price was based on the average closing price of SLG shares for the 10 trading days ending Jan 29, 2026.
- Filing date: Form 4 filed Feb 3, 2026 for a Jan 30, 2026 transaction — verify the full filing for any timeliness flag.
Context
This was a cash redemption of incentive units (a derivative/compensation-related transaction), not a market sale. Such redemptions commonly reflect compensation plan mechanics (conversion and issuer redemption) rather than an executive’s open‑market decision. The filing provides transaction details and the governing footnotes; it does not by itself explain management intent.
Insider Transaction Report
- Disposition to Issuer
LTIP Units
[F1][F2]2026-01-30$46.17/sh−10,830$500,021→ 212,692 total→ Common Stock (10,830 underlying)
Footnotes (2)
- [F1]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.
- [F2]In accordance with the terms of the First Amended and Restated Agreement of Limited Partnership of SL Green Operating Partnership, L.P., as amended (the "Partnership Agreement"), each LTIP Unit was converted into a Common Unit, and each resulting Common Unit was presented for redemption. At the election of the Issuer and in accordance with the terms of the Partnership Agreement, the Common Units presented for redemption were redeemed for cash, at a price per Common Unit based on the average of the closing prices of the Issuer's Common Stock for the ten consecutive trading days ending on January 29, 2026.