MANDELBAUM DAVID 4
4 · VORNADO REALTY TRUST · Filed May 22, 2026
Research Summary
AI-generated summary of this filing
Vornado (VNO) Director David Mandelbaum Receives 7,168 Restricted Units
What Happened David Mandelbaum, a director of Vornado Realty Trust (VNO), received a grant of 7,168 restricted units of Vornado Realty L.P. on May 21, 2026. The filing lists this as a derivative award (no per-share price or cash value reported). These restricted units are convertible into an equivalent number of Class A Units of the Operating Partnership, which are redeemable for cash or, at the company's election, one common share per unit.
Key Details
- Transaction type: Award/Grant of restricted units (derivative) on 2026-05-21 (reported on Form 4 filed 2026-05-22).
- Amount: 7,168 restricted units; price/value: N/A in filing.
- Vesting/transferability: Units vest immediately but are not transferable while Mandelbaum remains a board member, except as needed to convert/redeem to Class A Units and Common Shares. Any Common Shares received on redemption must be held until he is no longer a trustee. (See footnotes F1–F2.)
- Shares owned after transaction: Not specified in the filing.
- Timeliness: Filing appears timely (transaction 2026-05-21; Form 4 filed 2026-05-22).
Context This was an award of restricted partnership units (a derivative equity grant), not an open‑market purchase or sale. The units convert one-for-one into Class A Units, which can be redeemed for cash or converted into common shares of Vornado at the company’s election — effectively a deferred-equity award with holding/transfer restrictions while the recipient serves on the board. Such grants are routine compensation for directors and do not by themselves indicate buying or selling intent in the public market.
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.