Beinecke Candace K 4

4 · VORNADO REALTY TRUST · Filed May 22, 2026

AI-generated summary of this filing

Updated May 22, 2026

Vornado (VNO) Director Candace K. Beinecke Receives Award

What Happened

Candace K. Beinecke, a director of Vornado Realty Trust (VNO), received a grant of 7,168 restricted units of Vornado Realty L.P. on May 21, 2026 (transaction code A — award). No cash price was reported; these are derivative restricted units that can convert into Class A units of the Operating Partnership and ultimately be redeemed for cash or one-for-one for Vornado common shares.

Key Details

Transaction date: May 21, 2026; Form 4 filed May 22, 2026 (timely filing).
Security and amount: 7,168 restricted units (derivative award); price: N/A.
Vesting/transfer: The restricted units vest immediately but are not transferable while Beinecke remains a trustee, except for conversion/redemption events. Any common shares received on redemption must be held until she is no longer a board member.
Conversion/redemption mechanics: Restricted Units convert to Class A Units, which are redeemable for cash or, at the company’s election, one-for-one for common shares (or the cash value).
Ownership after transaction: Not specified in the provided filing summary.

Context

This was an equity compensation award, not an open-market purchase or sale. Such awards compensate insiders and may be part of director pay; they are not a direct market signal of buying or selling interest. The units are derivative and subject to transfer and holding restrictions tied to board service.

Form 4

Period: 2026-05-21

Director

Transactions

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.

Signature

/s/ Ryan Saum, Attorney-in-Fact|2026-05-22

1 file