LEVINE ANDREW S 4
4 · SL GREEN REALTY CORP · Filed Feb 17, 2026
Research Summary
AI-generated summary of this filing
SL Green (SLG) Andrew Levine Receives LTIP Award
What Happened
- Andrew S. Levine, Chief Legal Officer & General Counsel of SL Green Realty Corp. (SLG), was granted four equity awards on February 12, 2026 totaling 74,688 LTIP units (derivative awards). Each grant was reported at $0.00 per unit (derivative equity award), so no cash changed hands in the filing. These are awards (not open-market purchases or sales) and reflect compensation, not an outright stock purchase.
Key Details
- Transaction date: February 12, 2026; Filing date: February 17, 2026 (filed one business day late — filing timeliness: L).
- Grants reported: 32,012; 9,316; 9,316; and 24,044 LTIP units — total 74,688 units — reported at $0.00 (derivative).
- Shares owned after transaction: Not specified in the provided filing.
- Notable footnotes from the filing:
- Some units are annual time‑based awards that vest in equal installments on Jan 1, 2027 and Jan 1, 2028 (F1).
- LTIP units convert (at holder’s election) into partnership Common Units that can be redeemed for cash equal to the fair market value of a share or, at the issuer’s option, be exchanged for one share (F2); redemption generally cannot be exercised until two years after the grant.
- Additional no‑sell/restriction periods apply: certain LTIP/Common Units are subject to a three‑year no‑sell provision (F3), while other performance‑based LTIP Units issued in Jan 2023 vested 50% on Dec 31, 2025 with the remaining 50% vesting on Dec 31, 2026 and carry a one‑year no‑sell restriction after vesting (F4, F5).
Context
- These are compensatory LTIP (long‑term incentive plan) units, common for executives as part of pay packages; they are derivatives that may convert to partnership/Common Units and ultimately be redeemed for cash or exchanged for shares per the plan terms. Such awards are routine compensation disclosures and do not, by themselves, indicate buying or selling intent in the open market.
Insider Transaction Report
Form 4
LEVINE ANDREW S
CHIEF LEGAL OFFICER & GC
Transactions
- Award
LTIP Units
[F1][F2][F3]2026-02-12+32,012→ 244,704 total→ Common Stock (32,012 underlying) - Award
LTIP Units
[F4][F2]2026-02-12+9,316→ 254,020 total→ Common Stock (9,316 underlying) - Award
LTIP Units
[F5][F2]2026-02-12+9,316→ 263,336 total→ Common Stock (9,316 underlying) - Award
LTIP Units
[F2][F3]2026-02-12+24,044→ 287,380 total→ Common Stock (24,044 underlying)
Footnotes (5)
- [F1]Represents LTIP Units granted as an annual time-based equity award pursuant to an employment agreement dated as of August 13, 2025 between the reporting person and the issuer, which vest in equal installments on each of January 1, 2027 and January 1, 2028, subject to continued employment.
- [F2]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.
- [F3]Each LTIP Unit and Common Unit acquired upon conversion of such LTIP Unit is subject to an additional three-year no-sell provision pursuant to which such LTIP Unit and Common Unit generally may not be transferred, and the redemption right associated with the Common Unit may not be exercised, until the earlier of (i) three years after the grant date, (ii) termination of the reporting person's employment or (iii) a change in control of the Issuer.
- [F4]Represents LTIP Units originally issued in January 2023 that were earned based on the Issuer's total stockholder return during the period from January 1, 2023 through December 31, 2025, relative to a group of New York City-centric publicly traded real estate investment trusts. The LTIP Units vested 50% on December 31, 2025 and the remaining 50% will vest on December 31, 2026, subject to continued employment. Each LTIP Unit and Common Unit acquired upon conversion of such LTIP Unit is subject to an additional one-year no-sell provision pursuant to which such LTIP Unit and Common Unit generally may not be transferred, and the redemption right associated with the Common Unit may not be exercised, until the earlier of (i) one year after the vesting date, (ii) termination of the reporting person's employment or (iii) a change in control of the Issuer.
- [F5]Represents LTIP Units originally issued in January 2023 that were earned based on the Issuer's total stockholder return during the period from January 1, 2023 through December 31, 2025, relative to the constituent companies of the Dow Jones US Real Estate Office Index at the start of such period that remained publicly traded at the conclusion of such period. The LTIP Units vested 50% on December 31, 2025 and the remaining 50% will vest on December 31, 2026, subject to continued employment. Each LTIP Unit and Common Unit acquired upon conversion of such LTIP Unit is subject to an additional one-year no-sell provision pursuant to which such LTIP Unit and Common Unit generally may not be transferred, and the redemption right associated with the Common Unit may not be exercised, until the earlier of (i) one year after the vesting date, (ii) termination of the reporting person's employment or (iii) a change in control of the Issuer.
Signature
/s/ Andrew S. Levine|2026-02-17