Chiu Christina 4

What Happened

• Christina Chiu, President of Empire State Realty Trust, received an award of 196,957 long‑term incentive plan units (LTIP Units) on 2026-02-03. The units were reported as acquired at $0.00 and are derivative awards (not an open‑market purchase or sale).

Key Details

• Transaction date and type: 2026-02-03 — Award/Grant (Form 4 code A) reported 2026-02-05 (filed timely).
• Price: $0.00 (derivative award); total reported acquisition value $0.
• Vesting and performance: These LTIP Units were earned based on performance over the three‑year period ended 12/31/2025. Per the filing, 50% of the earned LTIP Units fully vested as of 1/1/2026; the remaining 50% will vest on 12/31/2026 subject to continued employment.
• Conversion mechanics (footnote): LTIP Units can convert, upon vesting, into Operating Partnership Units and are redeemable one‑for‑one for Class A common shares of the issuer (or for cash at the issuer’s option). Conversion rights have no expiration.
• Shares owned after transaction: Not specified in the provided filing.

Context

• This is a compensation award tied to company performance, not a market purchase or sale. Such awards are common for executives and reflect plan payouts tied to multi‑year operational and relative total‑shareholder‑return goals. Because the units are derivative and vest over time, they do not necessarily indicate immediate buying or selling of company stock.