Vornado (NYSE: VNO) director receives 7,168 restricted units award
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
MANDELBAUM DAVID reported acquisition or exercise transactions in this Form 4 filing.
Vornado Realty Trust director David Mandelbaum received a grant of 7,168 restricted units of Vornado Realty L.P. on May 21, 2026. These restricted units vest immediately and are convertible into 7,168 Class A Units, which can then be redeemed for cash or, at the company’s election, an equal number of common shares.
The restricted units and any resulting common shares are effectively locked up while he serves on the Board of Trustees, except for conversions and redemptions under the plan’s terms. After this award, Mandelbaum holds 7,168 restricted units directly.
Positive
- None.
Negative
- None.
Insider Trade Summary
1 transaction reported
Mixed
1 txn
Insider
MANDELBAUM DAVID
Role
null
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Restricted Units | 7,168 | $0.00 | -- |
Holdings After Transaction:
Restricted Units — 7,168 shares (Direct, null)
Footnotes (1)
- On May 21, 2026, 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. 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.
Key Figures
Restricted units granted: 7,168 units
Total restricted units after grant: 7,168 units
Underlying common shares: 7,168 shares
+1 more
4 metrics
Restricted units granted
7,168 units
Grant of restricted units on May 21, 2026
Total restricted units after grant
7,168 units
Holdings following the reported transaction
Underlying common shares
7,168 shares
One-for-one underlying common shares of beneficial interest
Grant price per unit
$0.00
Compensation grant, no cash paid by director
Key Terms
Restricted Units, Class A Units, Common Shares, Operating Partnership, +1 more
5 terms
Restricted Units financial
"the reporting person received a grant of restricted units (the "Restricted Units") of Vornado Realty L.P."
Class A Units financial
"convertible by the holder into an equivalent number of Class A Units of the Operating Partnership"
Class A units are a specific type of ownership stake in a company, fund, trust, or partnership that carries a defined set of rights—often different voting power, dividend priority, or fee arrangements—distinct from other classes of units. For investors they matter because those differences affect control, income and potential returns; think of two neighbors in the same building where one has a bigger say in decisions or a larger share of rental income.
Operating Partnership financial
"Vornado Realty L.P. (the "Operating Partnership"), the Operating Partnership of Vornado Realty Trust"
An operating partnership is a separate legal entity set up to own and run a company’s core assets and day-to-day businesses, while investors hold interests indirectly through the parent company. Think of it like a dedicated garage that actually stores and services the cars while the owner keeps the dealership; it matters to investors because it affects how income, taxes, liability and voting rights are allocated and therefore can influence distributions and risk.
Board of Trustees financial
"until the reporting person is no longer serving as a member of the Company's Board of Trustees"
A board of trustees is a group of individuals responsible for overseeing and guiding the management of an organization, such as a nonprofit, university, or charity. They act like a steering committee, making important decisions to ensure the organization stays true to its mission and remains financially healthy. For investors, the board’s effectiveness can influence the organization’s stability and long-term success.
FAQ
What insider transaction did Vornado Realty Trust (VNO) report for David Mandelbaum?
Vornado Realty Trust reported that director David Mandelbaum received 7,168 restricted units of Vornado Realty L.P. on May 21, 2026. The award is compensation-related, not an open-market stock purchase or sale, and is tied to his role on the Board of Trustees.
How many restricted units did the VNO director receive and what do they represent?
David Mandelbaum received 7,168 restricted units, each linked to an equivalent underlying common share. These units are a class of the operating partnership’s equity that can later convert into Class A Units and ultimately into cash or one-for-one common shares, at the company’s election.
When do David Mandelbaum’s Vornado restricted units vest and become transferable?
The 7,168 restricted units vest immediately upon grant. However, they are not transferable while he serves on the Board of Trustees, except for conversion into Class A Units and redemption for cash or common shares as permitted under the award’s terms.
What is David Mandelbaum’s restricted unit position in Vornado after this grant?
Following the May 21, 2026 grant, David Mandelbaum holds 7,168 restricted units directly. The Form 4 shows this as his total restricted unit position after the transaction, with no additional derivative positions listed in the derivative holdings summary section.