Helman William W 4
4 · VORNADO REALTY TRUST · Filed May 22, 2026
Research Summary
AI-generated summary of this filing
Vornado (VNO) Director William Helman Receives Restricted Units
What Happened
William W. Helman, a director of Vornado Realty Trust (VNO), was granted 7,168 restricted units of Vornado Realty L.P. on May 21, 2026. The filing lists this as an award/grant (transaction code A); no purchase price or cash amount is reported. The restricted units are a derivative interest convertible into an equivalent number of Class A Units of the Operating Partnership, which in turn are redeemable for cash or, at the company's election, one common share of Vornado per unit.
Key Details
- Transaction date: 2026-05-21 (reported on Form 4 filed 2026-05-22). Filing was timely (within Form 4 deadlines).
- Transaction type: Award/Grant (A) — 7,168 Restricted Units; price/value = N/A in the filing.
- Derivative mechanics: Restricted Units convert to Class A Units; Class A Units are redeemable for cash or one common share per unit.
- Vesting/transfer restrictions: Units vest immediately but are not transferable while Helman remains a board member (except for conversion/redemption). Any common shares received on redemption must be held until he leaves the Board.
- Shares owned after transaction: Not disclosed in the provided filing details.
Context
This was a compensation award to a director (not an open-market buy or sell). Because the units vest immediately but carry transfer and holding restrictions tied to board service, they represent deferred/structured compensation rather than an immediate liquidity event. No sale or cash received was reported, and no price/value was provided in the Form 4.
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.