Marc Holliday - Jan 19, 2022 Form 4 Insider Report for SL GREEN REALTY CORP (SLG)

Role: Chief Executive Officer, Director
Signature: /s/ Marc Holliday
Stock symbol: SLG
Transactions as of: Jan 19, 2022
Transactions value $: $0
Form type: 4
Date filed: 1/21/2022, 06:35 PM
Previous filing: Dec 22, 2021
Next filing: Feb 2, 2022

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	SLG	LTIP Units	Award	$0	+61.2K	+6.98%	$0.00	939K	Jan 19, 2022	Common Stock	61.2K		Direct	F1, F2, F3, F4
transaction	SLG	LTIP Units	Award	$0	+26.7K	+2.85%	$0.00	966K	Jan 19, 2022	Common Stock	26.7K		Direct	F2, F5

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

Explanation of Responses:

Id	Content
F1	Represents LTIP Units granted pursuant to an employment agreement dated as of December 31, 2021 between the reporting person and the Issuer, which vest in equal installments on each of January 1, 2023, January 1, 2024, and January 1, 2025, subject to continued employment.
F2	Represents LTIP Units issued pursuant to the Issuer's equity based compensatory programs. Conditioned upon minimum allocations to the capital accounts of the LTIP Units for federal income tax purposes, each vested LTIP Unit may be converted, at the election of the holder, into a Class A Unit of limited partnership interest in SL Green Operating Partnership, L.P. (a "Common Unit"). Each Common Unit acquired upon conversion of an LTIP Unit may be presented for redemption, at the election of the holder, for cash equal to the then fair market value of a share of the Issuer's Common Stock, except that the Issuer may, at its election, acquire each Common Unit so presented for one share of Common Stock. The redemption right generally cannot be exercised until two years from the date of the grant. The rights to convert LTIP Units into Common Units and redeem Common Units do not have expiration dates.
F3	Each LTIP Unit and Common Unit acquired upon conversion of such LTIP Unit is subject to an additional three-year no-sell provision pursuant to which such LTIP Unit and Common Unit generally may not be transferred, and the redemption right associated with the Common Unit may not be exercised, until the earlier of (i) three years after the grant date, (ii) termination of the reporting person's employment or (iii) a change in control of the Issuer.
F4	Reflects the forfeiture of 17,294 LTIP Units originally issued in January 2019 that were previously reported as earned based on the achievement of operational performance metrics for the year ended December 31, 2019, and which remained subject to additional performance-based vesting hurdles based on the Issuer's total shareholder return for the period from January 1, 2019 through December 31, 2021.
F5	Represents LTIP Units originally issued in January 2019 that were earned based on the Issuer's total stockholder return during the period from January 1, 2019 through December 31, 2021, relative to the constituent companies of the SNL Office REIT Index at the start of such period that remained publicly traded at the conclusion of such period. The LTIP Units vested in full on December 31, 2021. Each LTIP Unit and Common Unit acquired upon conversion of such LTIP Unit is subject to an additional two-year no-sell provision pursuant to which such LTIP Unit and Common Unit generally may not be transferred, and the redemption right associated with the Common Unit may not be exercised, until the earlier of (i) two years after the vesting date, (ii) termination of the reporting person's employment or (iii) a change in control of the Issuer.