Anthony E. Malkin - Feb 12, 2024 Form 4 Insider Report for Empire State Realty Trust, Inc. (ESRT)

Role: Chairman, President and CEO, Director
Signature: /s/ Heather L. Houston, Attorney-in-Fact
Stock symbol: ESRT
Transactions as of: Feb 12, 2024
Transactions value $: $0
Form type: 4
Date filed: 2/14/2024, 05:03 PM
Previous filing: Jun 20, 2023
Next filing: Mar 15, 2024

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Underlying Class	Amount	Exercise Price	Ownership	Footnotes
transaction	ESRT	LTIP Units	Award	$0	+421K	+13.54%	$0.00	3.53M	Feb 12, 2024	Class A Common Stock	421K		Direct	F1, F2

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	These represent long term incentive plan units ("LTIP Units"), a class of units of Empire State Realty OP, L.P. (the "Operating Partnership"). Conditioned upon sufficient allocations to the capital accounts of the LTIP Units for federal income tax purposes, LTIP Units are convertible by the reporting person, upon vesting, into an equivalent number of units of limited partnership interests ("Operating Partnership Units") of the Operating Partnership, which are redeemable by the holder for shares of Class A Common Stock of Empire State Realty Trust, Inc. (the "Issuer") on a one-for-one basis or the cash value of such shares, at the Issuer's option. The rights to convert LTIP Units into Operating Partnership Units and redeem Operating Partnership Units do not have expiration dates. These LTIP Units were granted under the Empire State Realty Trust, Inc. Empire State Realty OP, L.P. 2019 Equity Incentive Plan.
F2	These LTIP Units were earned on the achievement of certain performance criteria based on the Issuer's total shareholder return measured in industry-relative terms during a three-year performance period which ended on December 31, 2023. 50% of such earned LTIP Units fully vested as of January 1, 2024, and the remaining 50% of such earned LTIP Units will vest on December 31, 2024 subject to continued employment.

Content

These represent long term incentive plan units ("LTIP Units"), a class of units of Empire State Realty OP, L.P. (the "Operating Partnership"). Conditioned upon sufficient allocations to the capital accounts of the LTIP Units for federal income tax purposes, LTIP Units are convertible by the reporting person, upon vesting, into an equivalent number of units of limited partnership interests ("Operating Partnership Units") of the Operating Partnership, which are redeemable by the holder for shares of Class A Common Stock of Empire State Realty Trust, Inc. (the "Issuer") on a one-for-one basis or the cash value of such shares, at the Issuer's option. The rights to convert LTIP Units into Operating Partnership Units and redeem Operating Partnership Units do not have expiration dates. These LTIP Units were granted under the Empire State Realty Trust, Inc. Empire State Realty OP, L.P. 2019 Equity Incentive Plan.

These LTIP Units were earned on the achievement of certain performance criteria based on the Issuer's total shareholder return measured in industry-relative terms during a three-year performance period which ended on December 31, 2023. 50% of such earned LTIP Units fully vested as of January 1, 2024, and the remaining 50% of such earned LTIP Units will vest on December 31, 2024 subject to continued employment.