Vornado EVP converts 100,000 units to shares

Vornado Realty Trust executive Haim Chera converted partnership units into common shares.

Rhea-AI Filing Summary

Vornado Realty Trust executive Haim Chera converted partnership units into common shares. On February 23, 2026, he converted 100,000 Class A Units of Vornado Realty L.P. into 100,000 Common Shares of Vornado Realty Trust on a one-for-one basis, with no cash exercise price.

After these transactions, he directly holds 248,913 Class A Units of the operating partnership and 100,000 Common Shares of beneficial interest of the company.

Insider Trade Summary

100,000 shares exercised/converted

Exercise 2 txns

Insider Chera Haim

Role EVP - HEAD OF RETAIL

Type	Security	Shares	Price	Value
Conversion	Class A Units	100,000	$0.00	$0.00
Conversion	Common Shares	100,000	$0.00	$0.00

Holdings After Transaction: Class A Units — 248,913 contracts (Direct); Common Shares — 100,000 shares (Direct)

Footnotes (2)

1. F1. Common shares of beneficial interest, par value $.04 per share (the "Common Shares"), of Vornado Realty Trust ("the Company").
2. F2. Class A Units of Vornado Realty L.P. (the "Operating Partnership"), are redeemable by the holder for cash or, at the Company's election, common shares of the Company on a one-for-one basis or the cash value of such shares. The right to convert Class A Units into common shares does not have an expiration date. A total of 100,000 Class A Units of the Operating Partnership were converted by the Reporting Person on a one-for-one basis into an equal number of shares of the Company's Common Shares.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What insider transaction did Vornado Realty Trust (VNO) report for Haim Chera?

Vornado Realty Trust reported that executive Haim Chera converted 100,000 Class A Units of Vornado Realty L.P. into 100,000 Common Shares on a one-for-one basis. This was a derivative conversion, not an open-market stock purchase or sale.

How many Vornado (VNO) Class A Units did Haim Chera convert and into what?

Haim Chera converted 100,000 Class A Units of Vornado Realty L.P. into 100,000 Common Shares of beneficial interest of Vornado Realty Trust. The conversion occurred on a one-for-one basis as described in the insider filing footnotes.

What are Haim Cheras holdings in Vornado Realty Trust (VNO) after the Form 4?

After the reported transactions, Haim Chera directly holds 248,913 Class A Units of Vornado Realty L.P. and 100,000 Common Shares of Vornado Realty Trust. These positions reflect his ownership following the 100,000-unit derivative conversion into common shares.

Did Haim Chera pay any price to convert Vornado (VNO) units into shares?

The reported conversion shows a price per share of 0.0000, indicating no cash exercise price for converting the 100,000 Class A Units into 100,000 Common Shares. The units are redeemable one-for-one into cash or common shares at the companys election.

Do Vornado Realty Trust (VNO) Class A Units have an expiration date for conversion?

The Class A Units of Vornado Realty L.P. do not have an expiration date on the right to convert into Vornado Realty Trust common shares. The footnotes state the right to convert into common shares does not expire, allowing ongoing flexibility for such conversions.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 02/25/2026 - 04:43 PM EST Learn about SEC filing dates

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^*

Chera Haim

(Last) (First) (Middle)

C/O VORNADO REALTY TRUST

888 7TH AVENUE

(Street)

NEW YORK NY 10019

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
VORNADO REALTY TRUST [ VNO ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	EVP - HEAD OF RETAIL

3. Date of Earliest Transaction (Month/Day/Year)
02/23/2026

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 Shares(1)	02/23/2026		C		100,000	A	$0	100,000	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
Class A Units	(2)	02/23/2026		C			100,000(2)	(2)	(2)	Common Shares	100,000(2)	(2)	248,913	D

Explanation of Responses:

1. Common shares of beneficial interest, par value $.04 per share (the "Common Shares"), of Vornado Realty Trust ("the Company").

2. Class A Units of Vornado Realty L.P. (the "Operating Partnership"), are redeemable by the holder for cash or, at the Company's election, common shares of the Company on a one-for-one basis or the cash value of such shares. The right to convert Class A Units into common shares does not have an expiration date. A total of 100,000 Class A Units of the Operating Partnership were converted by the Reporting Person on a one-for-one basis into an equal number of shares of the Company's Common Shares.

	/s/ Ryan Saum, Attorney-in-Fact	02/25/2026
	** 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.