Durels Thomas P. 4

4 · Empire State Realty Trust, Inc. · Filed Mar 17, 2026

AI-generated summary of this filing

Updated Mar 17, 2026

Empire State Realty (ESRT) EVP Thomas P. Durels Receives Award

What Happened

Thomas P. Durels, EVP, Real Estate of Empire State Realty Trust, Inc., was granted 321,670 long-term incentive plan units (LTIP Units) on March 13, 2026. The units were awarded at $0.00 (derivative award) and reported on a Form 4 filed March 17, 2026.
These are derivative LTIP Units (total reported value $0 at grant) rather than an open‑market purchase or sale.

Key Details

Transaction date: 2026-03-13; Filing date: 2026-03-17.
Award: 321,670 LTIP Units; grant price reported $0.00; total reported value $0 (derivative).
Shares owned after transaction: Not specified in this filing.
Footnote highlights:
- F1: LTIP Units are a class of Operating Partnership units that, upon vesting and subject to tax allocations, are convertible into Operating Partnership Units and redeemable one-for-one for Class A common stock or for cash at the issuer’s option; conversion/redemption rights have no expiration.
- F2: These LTIP Units were granted under the 2024 Equity Incentive Plan and will vest per his Transition Agreement (dated Sept 19, 2025); each unit also carries a two‑year holding period following its applicable vesting date.
No indication in the filing that this was a sale, purchase, or option exercise—this was an equity award as part of compensation.

Context

These LTIP Units are derivative compensation awards, not immediate shares of common stock. They require vesting and conversion before becoming redeemable for common stock (or cash), and they include an extra two‑year holding restriction after vesting, so they do not represent current tradable share ownership.
Such grants are typically part of executive compensation/transition arrangements and should be interpreted as awards rather than direct market sentiment indicators.

Form 4

Period: 2026-03-13

EVP, Real Estate

Transactions

Award
LTIP Units
[F1][F2]
2026-03-13+321,670→ 1,900,494 total
→ Class A Common Stock (321,670 underlying)

Footnotes (2)

[F1]These represent long term incentive plan units ("LTIP Units"), a class of units of Empire State Realty OP, L.P. (the "Operating Partnership"). Conditioned upon sufficient allocations to the capital accounts of the LTIP Units for federal income tax purposes, LTIP Units are convertible by the Reporting Person, upon vesting, into an equivalent number of units of limited partnership interests ("Operating Partnership Units") of the Operating Partnership, which are redeemable by the holder for shares of Class A Common Stock of Empire State Realty Trust, Inc. (the "Issuer") on a one-for-one basis or the cash value of such shares, at the Issuer's option. The rights to convert LTIP Units into Operating Partnership Units and redeem Operating Partnership Units do not have expiration dates. These LTIP Units were granted under the Empire State Realty Trust, Inc. Empire State Realty OP, L.P. 2024 Equity Incentive Plan.
[F2]These LTIP Units were granted and will vest in accordance with his Transition Agreement dated September 19, 2025. Each of the LTIP Units is subject to a holding period for an additional two years following the applicable vesting date of such LTIP Unit.

Signature

/s/ Heather L. Houston, Attorney-in-Fact|2026-03-17

4 files