Russell B. Wight Jr - May 17, 2023 Form 4 Insider Report for VORNADO REALTY TRUST (VNO)

Role: Director
Signature: /s/ Ryan Saum, Attorney-in-Fact
Stock symbol: VNO
Transactions as of: May 17, 2023
Transactions value $: $40,517
Form type: 4
Date filed: 5/19/2023, 04:30 PM
Previous filing: May 17, 2023
Next filing: May 19, 2023

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	VNO	Preferred Shares Series M	Purchase	$11K	+1K	+20%	$10.99	6K	May 17, 2023	Held by Child	F1
transaction	VNO	Preferred Shares Series M	Purchase	$11K	+1K	+20%	$10.99	6K	May 17, 2023	Held by Child	F1
transaction	VNO	Preferred Shares Series O	Purchase	$9.28K	+1K	+50%	$9.28	3K	May 17, 2023	Held by Child	F1
transaction	VNO	Preferred Shares Series O	Purchase	$9.27K	+1K	+50%	$9.27	3K	May 17, 2023	Held by Child	F1

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Underlying Class	Amount	Exercise Price	Ownership	Footnotes
transaction	VNO	Restricted Units	Award		+13.4K			13.4K	May 18, 2023	Common Shares	13.4K		Direct	F2, F3

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	The Reporting Person disclaims beneficial ownership of these securities, and this report shall not be deemed an admission that the Reporting Person is the beneficial owner of these securities for the purpose of Section 16 or any other purpose.
F2	On May 18, 2023, the reporting person received a grant of restricted units (the "Restricted Units") of Vornado Realty L.P . (the "Operating Partnership"), the operating partnership of Vornado Realty Trust (the "Company"). The Restricted Units are a class of units of the Operating Partnership that following the occurrence of certain events are convertible by the holder into an equivalent number of Class A Units of the Operating Partnership. Class A Units are redeemable by the holder for cash or, at the Company's election, common shares of beneficial interest, $0.04 par value per share (the "Common Shares") of the Company on a one for one basis or the cash value of such shares.
F3	These Restricted Units vest immediately. These units are not transferable until the reporting person is no longer serving as a member of the Company's Board of Trustees, other than in connection with a conversion of the Restricted Units to Class A Units and a redemption of such Class A Units for Common Shares. Any Common Shares issued in connection with such a redemption must be held by the reporting person until such person is no longer a member of the Company's Board of Trustees.