YANG HANNAH Y 4

4 · Empire State Realty Trust, Inc. · Filed May 19, 2026

AI-generated summary of this filing

Updated May 19, 2026

Empire State Realty (ESRT) Director Hannah Y. Yang Receives Award

What Happened

Hannah Y. Yang, a director of Empire State Realty Trust, received a grant of 23,856 long-term incentive plan units (LTIP Units) on 2026-05-15. The units were granted at $0.00 (reported value $0) as a derivative award under the Empire State Realty Trust, Inc. 2026 Equity Incentive Plan.
These LTIP Units are not common stock today but are convertible, upon vesting and subject to tax-allocation conditions, into Operating Partnership Units that are redeemable one-for-one for Class A common shares (or cash at the issuer’s option). Conversion rights do not expire.

Key Details

Transaction date: 2026-05-15; reported on Form 4 filed 2026-05-19 (timely — two business days).
Grant details: 23,856 LTIP Units; reported acquisition price $0.00 (derivative award, code A).
Shares/units owned after transaction: not reported in this Form 4.
Vesting/holding: LTIP Units vest ratably over the first four anniversaries of the grant date and are subject to an additional two‑year holding period after the applicable grant date (see footnotes).
Filing note: Exhibit 24 (Power of Attorney) attached to the filing.

Context

This was a compensation grant (award), not an open‑market purchase or sale; awards are common for directors and typically subject to multi‑year vesting and holding restrictions, so they do not represent an immediate buy/sell market signal.
Because these are derivative LTIP Units that convert into partnership units and then into shares (or cash) upon vesting, they only translate into tradable equity if and when conversion/redemption conditions are met.

Form 4

Period: 2026-05-15

Director

Transactions

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.

Signature

/s/ Susanne J. Lieu, Attorney-in-Fact|2026-05-19

4 files