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SL Green Realty (NYSE: SLG) CEO converts LTIP units and sells stock

Filing Impact
(Very High)
Filing Sentiment
(Negative)
Form Type
4

Rhea-AI Filing Summary

SL Green Realty Corp. President and CEO Marc Holliday reported equity transactions involving company stock and partnership units. On December 22, 2025, 22,223 LTIP Units in SL Green Operating Partnership were exchanged into Common Units and immediately converted into an equal number of shares of SL Green common stock. These holdings included 377.18 shares acquired through the company’s Employee Stock Purchase Plan.

On December 23, 2025, Holliday sold 22,223 shares of common stock at a weighted average price of $44.40 per share, with individual sale prices ranging from $44.36 to $44.58. Following these transactions, he directly owned 31,920.65 shares of common stock and 1,317,680 LTIP Units, which are equity-based awards that can be converted into partnership units and potentially redeemed for cash or common stock under the partnership agreement.

Positive

  • None.

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Insider HOLLIDAY MARC
Role PRESIDENT & CEO
Sold 22,223 shs ($987K)
Type Security Shares Price Value
Sale Common Stock 22,223 $44.40 $987K
Conversion LTIP Units 22,223 $0.00 --
Disposition LTIP Units 5,374 $44.21 $238K
Conversion Common Stock 22,223 $0.00 --
Holdings After Transaction: Common Stock — 9,697.65 shares (Direct); LTIP Units — 1,323,054 shares (Direct)
Footnotes (1)
  1. 22,223 of the Reporting Person's LTIP units ("LTIP Units") in SL Green Operating Partnership, L.P. ("SLGOP"), of which the Issuer is the sole general partner, were exchanged for Class A Units of limited partnership interests in SLGOP ("Common Units") and then were immediately converted into an equal number of shares of the Issuer's Common Stock. Includes 377.18 shares of the Issuer's Common Stock purchased through the Issuer's Employee Stock Purchase Plan. Represents the weighted average sale price per share. These shares were sold in multiple transactions at prices ranging from $44.36 to $44.58 per share. The reporting person undertakes to provide upon request by the U.S. Securities and Exchange Commission staff, the Issuer or a security holder of the Issuer, full information regarding the number of shares sold at each separate price. 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 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. 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 December 19, 2025.
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Form 4 Insider Transactions: What Each Field Means →
SEC Form 4
FORM 4 UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940
OMB APPROVAL
OMB Number: 3235-0287
Estimated average burden
hours per response: 0.5
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.
1. Name and Address of Reporting Person*
HOLLIDAY MARC
(Last) (First) (Middle)
C/O SL GREEN REALTY CORP.
ONE VANDERBILT AVENUE - 28TH FLOOR
(Street)
NEW YORK NY 10017
(City) (State) (Zip)
2. Issuer Name and Ticker or Trading Symbol
SL GREEN REALTY CORP [ SLG ] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
X Director 10% Owner
X Officer (give title below) Other (specify below)
PRESIDENT & CEO
3. Date of Earliest Transaction (Month/Day/Year)
12/22/2025
4. If Amendment, Date of Original Filed (Month/Day/Year)
 6. Individual or Joint/Group Filing (Check Applicable Line)
X Form filed by One Reporting Person
Form filed by More than One Reporting Person
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3) 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code (Instr. 8) 4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V Amount (A) or (D) Price
Common Stock 12/22/2025 C 22,223 A (1) 31,920.65(2) D
Common Stock 12/23/2025 S 22,223 D $44.4(3) 9,697.65 D
Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3) 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year) 3A. Deemed Execution Date, if any (Month/Day/Year) 4. Transaction Code (Instr. 8) 5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) 6. Date Exercisable and Expiration Date (Month/Day/Year) 7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4) 8. Price of Derivative Security (Instr. 5) 9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) 10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 11. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
LTIP Units(4) (4) 12/22/2025 C 22,223 (4) (4) Common Stock 22,223 $0 1,323,054 D
LTIP Units(4) (4) 12/22/2025 D 5,374 (4) (4) Common Stock 5,374 $44.21(5) 1,317,680 D
Explanation of Responses:
1. 22,223 of the Reporting Person's LTIP units ("LTIP Units") in SL Green Operating Partnership, L.P. ("SLGOP"), of which the Issuer is the sole general partner, were exchanged for Class A Units of limited partnership interests in SLGOP ("Common Units") and then were immediately converted into an equal number of shares of the Issuer's Common Stock.
2. Includes 377.18 shares of the Issuer's Common Stock purchased through the Issuer's Employee Stock Purchase Plan.
3. Represents the weighted average sale price per share. These shares were sold in multiple transactions at prices ranging from $44.36 to $44.58 per share. The reporting person undertakes to provide upon request by the U.S. Securities and Exchange Commission staff, the Issuer or a security holder of the Issuer, full information regarding the number of shares sold at each separate price.
4. 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 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.
5. 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 December 19, 2025.
/s/ Marc Holliday 12/29/2025
** Signature of Reporting Person Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

Source: View Original Filing on SEC EDGAR

FAQ

What insider transaction did SL Green (SLG) report for its CEO?

SL Green reported that President and CEO Marc Holliday exchanged 22,223 LTIP Units for Common Units, converted them into 22,223 shares of common stock on December 22, 2025, and then sold those 22,223 shares on December 23, 2025.

At what price did the SL Green (SLG) CEO sell his shares?

The CEO sold 22,223 shares of SL Green common stock at a weighted average price of $44.40 per share, with individual sale prices ranging from $44.36 to $44.58 per share.

How many SL Green (SLG) shares does the CEO own after the reported transactions?

After the reported transactions, Marc Holliday beneficially owned 31,920.65 shares of SL Green common stock directly.

What are LTIP Units in the SL Green structure?

LTIP Units are equity-based awards in SL Green Operating Partnership, L.P. that, once vested and subject to certain tax-related conditions, may be converted into Common Units. Each Common Unit may be redeemed for cash equal to the fair market value of a share of SL Green common stock, or the issuer may elect to deliver one share of common stock instead.

How many LTIP Units does the SL Green (SLG) CEO hold after these transactions?

Following the transactions, Marc Holliday beneficially owned 1,317,680 LTIP Units directly.

How was the cash redemption price for certain LTIP Units determined?

Under the partnership agreement, certain LTIP Units converted into Common Units were redeemed for cash at $44.21 per Common Unit, based on the average closing price of SL Green common stock for the ten consecutive trading days ending on December 19, 2025.