David Mandelbaum - Dec 31, 2021 Form 5 Insider Report for VORNADO REALTY TRUST (VNO)

Role: Director
Signature: /s/ Ryan Saum, Attorney in Fact
Stock symbol: VNO
Transactions as of: Dec 31, 2021
Transactions value $: $0
Form type: 5
Date filed: 1/21/2022, 03:09 PM
Previous filing: May 24, 2021
Next filing: May 20, 2022

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	VNO	Common Shares	Gift	$0	-140K	-33.53%	$0.00	278K	Nov 29, 2021	Direct
holding	VNO	Common Shares						122K	Dec 31, 2021	Held by trust	F1
holding	VNO	Common Shares						2.91M	Dec 31, 2021	Held by partnership	F2
holding	VNO	Common Shares						5.5M	Dec 31, 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	Dec 31, 2021	Common Shares	30		Direct	F4
holding	VNO	Restricted Units						25.4K	Dec 31, 2021	Common Shares	25.4K		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.