DiLiberto Matthew J. 4

What Happened
Matthew J. DiLiberto, Chief Financial Officer of SL Green Realty Corp. (SLG), was granted a series of long‑term incentive plan (LTIP) awards on February 12, 2026. The filing reports six separate grants totaling 195,824 LTIP units (33,999; 7,729; 9,316; 9,316; 35,464; and 100,000 units). All awards were granted at $0.00 per unit (compensatory/derivative awards), not open‑market cash purchases.

Key Details

• Transaction date: February 12, 2026; Form 4 filed February 17, 2026 (appears late relative to the 2‑business‑day Form 4 rule).
• Price: $0.00 (awards/derivative units).
• Total units granted: 195,824 LTIP units (see breakdown above).
• Shares owned after transaction: Not specified in the provided excerpt.
• Notable vesting/terms from filing footnotes:
  • Some units vest in equal installments (one‑third) on Jan 1, 2027, Jan 1, 2028 and Jan 1, 2029, subject to continued employment.
  • Certain grants are performance‑based and tied to operational metrics and/or total shareholder return (TSR) through Dec 31, 2027, including an adjustment of up to ±12.5% for the TSR component.
  • LTIP units generally convert, at the holder’s election, into Common Units that may be redeemed for cash equal to the then fair market value of SLG common stock or, at the issuer’s election, exchanged for shares. Redemption/exercise and sale rights are subject to multi‑year holding/no‑sell provisions (common two‑year, one‑year or three‑year restrictions depending on the tranche).
  • Class O LTIP Units are economically similar to stock options and, when vested, convert based on appreciation over a grant‑price benchmark ($40.49 in the referenced footnote).
• Filing timeliness: Filed 5 days after the transaction date — appears late; late filings don’t change the economic nature of the award but can be relevant for regulatory/timeliness considerations.

Context
These are compensatory LTIP awards (derivative equity), not open‑market purchases or sales. Such grants are normal executive compensation and are typically intended to align management with multi‑year performance and retention goals. Because many units are subject to multi‑year vesting, performance hurdles, conversion mechanics and no‑sell restrictions, they do not represent immediately tradeable stock.