Weiss Glen J. 4
4 · VORNADO REALTY TRUST · Filed Feb 6, 2026
Research Summary
AI-generated summary of this filing
Vornado (VNO) EVP Glen J. Weiss Receives 48,374 LTIP Units (Award)
What Happened Glen J. Weiss, Executive Vice President and Head of Leasing (Real Estate) at Vornado Realty Trust (VNO), was granted 48,374 long-term incentive plan (LTIP) units on February 5, 2026. The units were reported as a derivative award (transaction code A) at $0.00 in the Form 4 filing. These 48,374 LTIP Units consist of 44,930 performance (LTPP Base) units plus 3,444 dividend-accrual units; they are convertible into Class A units of Vornado Realty L.P. and ultimately redeemable for cash or, at the company's election, one-for-one into Vornado common shares.
Key Details
- Transaction date: 2026-02-05; filed 2026-02-06 (timely filing).
- Amount: 48,374 LTIP Units reported at $0.00 (derivative award; no cash paid).
- Vesting: One-half of the Base Units and one-half of the Dividend Accrual Units vested immediately (24,187 units vested when earned); the remaining 24,187 units vest on January 12, 2027, subject to continued employment.
- Conversion/restrictions: LTIP Units convert to Class A Units (one-for-one), which are redeemable for cash or common shares. Converted units and Class A Units are subject to an additional one-year transfer restriction and the redemption right may not be exercised until one year after vesting.
- Footnote summary: Units were originally issued under the 2023 Long Term Performance Plan; vesting reflects achievement of relative total shareholder return performance metrics through the performance period ending January 12, 2026.
- Shares owned after transaction: Not specified in the filing.
Context This was a performance-based, derivative compensation award (not an open-market buy or sale). Such LTIP unit grants reward long-term performance versus peers; half of the award is immediately vested while the remainder is time‑based contingent on continued employment, and converted units remain subject to transfer/redeem restrictions for an additional year after vesting.
Insider Transaction Report
- Award
LTIP Units
[F1][F2][F3]2026-02-05+48,374→ 91,664 total→ Common Shares (48,374 underlying)
Footnotes (3)
- [F1]Represents LTIP Units of Vornado Realty L.P. (the "Operating Partnership"), the operating partnership of Vornado Realty Trust (the "Company"). The LTIP 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. The rights to convert LTIP Units into Class A Units and redeem Class A Units do not have expiration dates.
- [F2]The LTIP Units were originally issued in January 2023 under the Company's 2023 Long Term Performance Plan and were subject to performance hurdles based on achievement of specified operational and relative performance metrics over predetermined performance periods, with the last performance period ending on January 12, 2026 (the "Relative TSR Performance Period"). On February 5, 2026, the Company's Compensation Committee determined the level of achievement of the relative performance metrics for these LTIP Units, resulting in 44,930 LTIP Units (the "LTPP Base Units") being earned at the conclusion of the Relative TSR Performance Period based on the Company's total shareholder return as compared to certain peer indices, and an additional 3,444 LTIP Units (the "LTPP Dividend Accrual Units") earned as an accrual for dividends payable on the LTPP Base Units.
- [F3]One-half of the LTPP Dividend Accrual Units and one-half of the LTPP Base Units were vested when earned, and the other one-half of the LTPP Dividend Accrual Units and the other one-half of the LTPP Base Units vest on January 12, 2027, subject to continued employment. Each LTPP Base Units and LTPP Dividend Accrual Unit and Class A Unit acquired upon conversion of such LTIP Unit is subject to an additional one-year transfer restriction pursuant to which such LTIP Unit and Class A Unit generally may not be transferred, and the redemption right associated with the Class A Unit may not be exercised until one year after the vesting date.