SL Green officer redeems 10,830 LTIP Units
SL Green Realty’s chief legal officer and general counsel, Andrew S. Levine, reported a disposition of 10,830 LTIP Units on January 30, 2026.
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Rhea-AI Filing Summary
SL Green Realty’s chief legal officer and general counsel, Andrew S. Levine, reported a disposition of 10,830 LTIP Units on January 30, 2026. According to the disclosure, each LTIP Unit was converted into a Common Unit, then presented for redemption and redeemed for cash under the partnership agreement.
The cash redemption price per Common Unit was based on the average closing prices of SL Green’s common stock for the ten trading days ending January 29, 2026, resulting in a reported price of $46.17 per unit. Following this transaction, Levine beneficially owned 212,692 derivative securities (LTIP-related units) on a direct basis.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Disposition | LTIP Units | 10,830 | $46.17 | $500K |
Footnotes (2)
- F1. Represents LTIP Units issued pursuant to the Issuer's equity based compensatory programs. Conditioned upon minimum allocations to the capital accounts of the LTIP Units for federal income tax purposes, each vested LTIP Unit may be converted, at the election of the holder, into a Class A Unit of limited partnership interest in SL Green Operating Partnership, L.P. (a "Common Unit"). Each Common Unit acquired upon conversion of an LTIP Unit may be presented for redemption, at the election of the holder, for cash equal to the then fair market value of a share of the Issuer's Common Stock, except that the Issuer may, at its election, acquire each Common Unit so presented for one share of Common Stock. The redemption right generally cannot be exercised until two years from the date of the grant. The rights to convert LTIP Units into Common Units and redeem Common Units do not have expiration dates.
- F2. In accordance with the terms of the First Amended and Restated Agreement of Limited Partnership of SL Green Operating Partnership, L.P., as amended (the "Partnership Agreement"), each LTIP Unit was converted into a Common Unit, and each resulting Common Unit was presented for redemption. At the election of the Issuer and in accordance with the terms of the Partnership Agreement, the Common Units presented for redemption were redeemed for cash, at a price per Common Unit based on the average of the closing prices of the Issuer's Common Stock for the ten consecutive trading days ending on January 29, 2026.
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