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  4. [Form 4] SL GREEN REALTY CORP Insider Trading Activity

SL Green (SLG) director redeems 100,000 LTIP Units for cash with issuer

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

Rhea-AI Filing Summary

SL Green Realty Corp director Andrew W. Mathias disposed of 100,000 LTIP Units in a transaction with the company. The LTIP Units were first converted into Common Units of SL Green Operating Partnership, then the resulting Common Units were redeemed for cash at approximately $43.94 per unit.

The cash redemption price was based on the average closing price of SL Green’s common stock over the ten trading days ending on May 18, 2026, as provided in the partnership agreement. After this issuer disposition, Mathias directly holds 1,124,369 LTIP Units, indicating he retains a substantial equity-linked stake.

Positive

  • None.

Negative

  • None.
Insider MATHIAS ANDREW W
Role null
Type Security Shares Price Value
Disposition LTIP Units 100,000 $43.94 $4.39M
Holdings After Transaction: LTIP Units — 1,124,369 shares (Direct, null)
Footnotes (1)
  1. 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. 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 May 18, 2026.
LTIP Units disposed 100,000 LTIP Units Disposition to issuer on May 19, 2026
Redemption price per unit $43.94 per Common Unit Cash redemption price based on 10-day average
Holdings after transaction 1,124,369 LTIP Units Direct holdings following issuer disposition
Pricing period end date May 18, 2026 End of 10-day averaging window for redemption price
LTIP Units financial
"Represents LTIP Units issued pursuant to the Issuer's equity based compensatory programs."
LTIP units are awards given to executives and employees as part of a long-term incentive plan; they act like deferred bonuses that convert into company shares or cash only if the business meets set performance or time requirements. Investors care because LTIP units tie management pay to future results, can increase the number of outstanding shares (dilution) when they vest, and create ongoing compensation expense that can affect earnings and shareholder value.
Common Unit financial
"each LTIP Unit was converted into a Common Unit, and each resulting Common Unit was presented for redemption."
A common unit is a single piece of ownership in a company, fund, or trust—similar to an ordinary share but often used for pooled vehicles or listings where securities are packaged or governed differently. It matters to investors because each unit represents a claim on profits and, commonly, voting power; like holding a seat at a table, the number of units you own affects your share of returns and influence, and unit structures can also affect liquidity and tax treatment.
redemption financial
"Common Units presented for redemption were redeemed for cash, at a price per Common Unit"
Redemption is when an issuer or holder settles a financial instrument by paying it off or returning it for cash, such as a bond being paid at maturity or a preferred share bought back by the company. It matters to investors because redemption changes when and how they get their money back, can cut off future income from the investment, and affects the issuer’s cash needs—think of it like a loan being paid off early or a store refunding a returned purchase.
Partnership Agreement financial
"In accordance with the terms of the First Amended and Restated Agreement of Limited Partnership"
A partnership agreement is a written contract that lays out how two or more parties will work together, splitting responsibilities, profits, losses and decision-making. Think of it as a detailed roadmap or house rulebook for a joint project; it matters to investors because the terms determine how much revenue and risk a company will take on, how quickly it can act, and whether the partnership could dilute control or boost growth potential.
capital accounts financial
"Conditioned upon minimum allocations to the capital accounts of the LTIP Units for federal income tax purposes"
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Form 4 Insider Transactions: What Each Field Means →
SEC Form 4
FORM 4UNITED 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*
MATHIAS ANDREW W
(Last)(First)(Middle)
C/O SL GREEN REALTY CORP.
ONE VANDERBILT AVENUE - 28TH FLOOR
(Street)
NEW YORK NEW YORK 10017
(City)(State)(Zip)
UNITED STATES
(Country)		2. Issuer Name and Ticker or Trading Symbol
SL GREEN REALTY CORP [ SLG ] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
XDirector10% Owner
Officer (give title below)Other (specify below)
2a. Foreign Trading Symbol
3. Date of Earliest Transaction (Month/Day/Year)
05/19/2026		6. Individual or Joint/Group Filing (Check Applicable Line)
XForm filed by One Reporting Person
Form filed by More than One Reporting Person
4. If Amendment, Date of Original Filed (Month/Day/Year)

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)
CodeVAmount(A) or (D)Price
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)
CodeV(A)(D)Date ExercisableExpiration DateTitleAmount or Number of Shares
LTIP Units(1)05/19/2026D100,000 (1) (1)Common Stock100,000$43.94(2)1,124,369D
Explanation of Responses:
1. 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.
2. 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 May 18, 2026.
/s/ Andrew W. Mathias06/02/2026
** Signature of Reporting PersonDate
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.
* Form 4: SEC 1474 (03-26)

Source: View Original Filing on SEC EDGAR

FAQ

What insider transaction did SL Green (SLG) director Andrew W. Mathias report?

Andrew W. Mathias reported disposing of 100,000 LTIP Units in a transaction with SL Green. The LTIP Units were converted into Common Units, which were then redeemed for cash by the company under the operating partnership’s terms.

Was the SL Green (SLG) transaction an open-market sale of common stock?

No, the transaction was not an open-market stock sale. LTIP Units were converted into Common Units and then redeemed for cash by the issuer under the partnership agreement, classified as a disposition to the issuer rather than a market trade.

At what price were Andrew W. Mathias’s SL Green units effectively redeemed?

The 100,000 Common Units were redeemed for cash at about $43.94 per unit. The price per unit was based on the average closing prices of SL Green’s common stock over the ten consecutive trading days ending on May 18, 2026.

How many LTIP Units does Andrew W. Mathias hold after this SL Green transaction?

After the disposition, Andrew W. Mathias holds 1,124,369 LTIP Units directly. These LTIP Units are equity-based compensation instruments that can be converted into Common Units and then effectively tied to the value of SL Green’s common stock.

How do SL Green LTIP Units and Common Units work in this Form 4 filing?

LTIP Units are equity awards that, once vested and meeting capital account conditions, may be converted into Common Units. Each Common Unit can then be redeemed for cash or, at the issuer’s election, exchanged for one share of SL Green common stock under the partnership agreement.