DAVID MANDELBAUM - 31 Dec 2021 Form 5 Insider Report for VORNADO REALTY TRUST (VNO)

Role: Director
Signature: /s/ Ryan Saum, Attorney in Fact
Issuer symbol: VNO
Transactions as of: 31 Dec 2021
Net transactions value: $0
Form type: 5
Filing time: 21 Jan 2022, 15:09:16 UTC
Previous filing: 24 May 2021
Next filing: 20 May 2022
SEC: View on sec.gov

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	VNO	Common Shares	Gift	$0	-140,000	-34%	$0.000000	277,554	29 Nov 2021	Direct
holding	VNO	Common Shares						122,002	31 Dec 2021	Held by trust	F1
holding	VNO	Common Shares						2,909,252	31 Dec 2021	Held by partnership	F2
holding	VNO	Common Shares						5,503,548	31 Dec 2021	Held by partnership	F3

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
holding	VNO	Class A Units						30	31 Dec 2021	Common Shares	30		Direct	F4
holding	VNO	Restricted Units						25,352	31 Dec 2021	Common Shares	25,352		Direct	F5

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

Explanation of Responses:

Id	Content
F1	These Common Shares are held in a trust. The filing of this Form 5 shall not be deemed and admission the Mr. Mandelbaum is the beneficial owner of these Common Shares.
F2	These Common Shares are held in a limited partnership of which David Mandelbaum is the general partner. The filing of this Form 5 shall not be deemed and admission that Mr. Mandelbaum is the beneficial owner of these Common Shares.
F3	These Common Shares are held by Interstate Properties, a New Jersey general partnership of which Mr. Mandelbaum is a general partner. The filing of this Form 5 shall not be deemed an admission that Mr. Mandelbaum is the beneficial owner of these 5,503,548 Common Shares, except to the extent of his pecuniary interest.
F4	These Class A Units are immediately redeemable (subject to certain limitations set forth in the Operating Partnership limited partnership agreement) by the holder for cash or Common Shares of Vornado Realty Trust (the "Issuer") at the election of the Issuer, on a one for one basis or the cash value of such shares. Class A Units do not have expiration dates.
F5	The Restricted Units are a class of units of the Operating Partnership that following the occurrence of certain events and upon vesting are convertible by the holder into an equivalent number of Class A Units of the Operating Partnership.