Van Tassell Christina 4
4 · Empire State Realty Trust, Inc. · Filed May 19, 2026
Research Summary
AI-generated summary of this filing
ESRT Director Christina Van Tassell Receives LTIP Award
What Happened
Christina Van Tassell, a director of Empire State Realty Trust, Inc. (ESRT), was granted 23,856 long term incentive plan units (LTIP Units) on 2026-05-15. The units were awarded at a $0.00 per-unit acquisition price (transaction code A), i.e., no cash purchase. These LTIP Units are derivative awards that can convert into Operating Partnership Units and ultimately be redeemable for ESRT Class A common stock (or cash) on a one-for-one basis upon vesting.
Key Details
- Transaction date: 2026-05-15; Form 4 filed: 2026-05-19. (Filing occurred 4 days after the reported transaction.)
- Reported price: $0.00 per unit; total reported cash paid: $0.
- Grant size: 23,856 LTIP Units.
- Shares owned after transaction: Not specified in this Form 4.
- Footnotes:
- F1 — LTIP Units may convert to Operating Partnership Units, which are redeemable for one share of Class A common stock (or cash) at the issuer’s option; conversion/redeem rights have no expiration.
- F2 — LTIP Units vest ratably over the first four anniversaries of the grant and are subject to an additional two‑year holding period after grant.
- Remarks: Exhibit 24 (Power of Attorney) attached.
Context
This is an equity compensation award, not an open‑market purchase or sale. Such grants are common for directors/executives as part of long‑term incentive programs and do not by themselves indicate immediate buying or selling in the market. The units only convert into tradable equity after vesting and any required holding periods, and the Issuer can choose cash redemption instead of shares. Investors should treat this as routine compensation disclosure rather than a direct market signal.
Insider Transaction Report
- Award
LTIP Units
[F1][F2]2026-05-15+23,856→ 67,248 total→ Class A Common Stock (23,856 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. 2026 Equity Incentive Plan.
- [F2]These LTIP Units vest ratably on each of the first four anniversaries of the date of grant. Each of the LTIP Units is subject to a holding period for an additional two years following the applicable grant date of such LTIP Unit.