Franco Michael J. 4
4 · VORNADO REALTY TRUST · Filed Jan 13, 2023
Insider Transaction Report
Form 4
Franco Michael J.
PRESIDENT AND CFO
Transactions
- Award
Restricted Units
2023-01-11+56,585→ 56,585 total→ Common Shares (56,585 underlying)
Footnotes (2)
- [F1]On January 11, 2023, 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 and upon vesting are convertible by the holder into an equivalent number of Class A Units of the Operating Partnership ("Class A Units"). Class A Units of the Operating Partnership are redeemable by the holder for cash or, at the Company's election, common shares of the Company on a one-for-one basis or the cash value of such shares.
- [F2]The Restricted Units vest in four equal installments on January 10, 2024, 2025, 2026 and 2027, subject to the reporting person's continuous service with the Company at each vesting date.