MACNOW JOSEPH

SEC source: 0001179110-20-004370 · edgar.xml · derivative · entry 1

MACNOW JOSEPH · CIK 0001246482 · EVP - Finance, CFO & CAO

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 28,637

Underlying: Common Shares · 28,637 shares

Expires not disclosed

F1 · security: On March 30, 2020 the reporting person received a grant of restricted units (the "Restricted Units") of Vornado Realty L.P. (the "Operating Partnership"), the operating partnership of Vornado Realty Trust (the "Company" or "VNO"). 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 ("Class A Units"). Class A Units of 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.

F1 · derivative.exercise_price: On March 30, 2020 the reporting person received a grant of restricted units (the "Restricted Units") of Vornado Realty L.P. (the "Operating Partnership"), the operating partnership of Vornado Realty Trust (the "Company" or "VNO"). 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 ("Class A Units"). Class A Units of 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.

F1 · price: On March 30, 2020 the reporting person received a grant of restricted units (the "Restricted Units") of Vornado Realty L.P. (the "Operating Partnership"), the operating partnership of Vornado Realty Trust (the "Company" or "VNO"). 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 ("Class A Units"). Class A Units of 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.

F2 · derivative.exercise_date: The Restricted Units vest in equal portions over a four-year period with the initial vesting occurring on March 30, 2021.

F2 · derivative.expiration_date: The Restricted Units vest in equal portions over a four-year period with the initial vesting occurring on March 30, 2021.

SEC source: 0001179110-20-004218 · edgar.xml · derivative · entry 3

MACNOW JOSEPH · CIK 0001246482 · EVP - Finance, CFO & CAO

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 152,507

Underlying: Common Shares · 20,916 shares

Expires not disclosed

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F5 · derivative.exercise_price: Class A Units are redeemable (subject to certain limitations set forth in the Operating Partnership limited partnership agreement) by the holder for cash or, at the issuer's election, Common Shares of the issuer on a one for one basis or the cash value of such shares.

F6 · price: 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, at the issuer's election, Common Shares of the Issuer on a one for one basis or the cash value of such shares. Class A Units do not have expiration dates.

F6 · derivative.exercise_date: 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, at the issuer's election, Common Shares of the Issuer on a one for one basis or the cash value of such shares. Class A Units do not have expiration dates.

F6 · derivative.expiration_date: 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, at the issuer's election, Common Shares of the Issuer on a one for one basis or the cash value of such shares. Class A Units do not have expiration dates.

SEC source: 0001179110-20-004218 · edgar.xml · derivative · entry 2

MACNOW JOSEPH · CIK 0001246482 · EVP - Finance, CFO & CAO

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 15,540

Underlying: Common Shares · 15,538 shares

Expires not disclosed

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F3 · derivative.exercise_price: On March 15, 2018, the reporting person received a grant of Restricted Units of the Operating Partnership. These Restricted Units are being converted into Class A Units on a one for one basis pursuant to their terms.

F3 · price: On March 15, 2018, the reporting person received a grant of Restricted Units of the Operating Partnership. These Restricted Units are being converted into Class A Units on a one for one basis pursuant to their terms.

F4 · derivative.exercise_date: These Restricted Units vested in equal portions over a four-year period. The initial vesting occurred on March 15, 2019.

F4 · derivative.expiration_date: These Restricted Units vested in equal portions over a four-year period. The initial vesting occurred on March 15, 2019.

SEC source: 0001179110-20-004218 · edgar.xml · derivative · entry 1

MACNOW JOSEPH · CIK 0001246482 · EVP - Finance, CFO & CAO

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 0

Underlying: Common Shares · 5,378 shares

Expires not disclosed

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F1 · derivative.exercise_price: On January 14, 2016, the reporting person received a grant of Restricted Units of the Operating Partnership. These Restricted Units are being converted into Class A Units on a one for one basis pursuant to their terms.

F1 · price: On January 14, 2016, the reporting person received a grant of Restricted Units of the Operating Partnership. These Restricted Units are being converted into Class A Units on a one for one basis pursuant to their terms.

F2 · derivative.exercise_date: These Restricted Units vested in equal portions over a four-year period. The initial vesting occurred on January 10, 2017.

F2 · derivative.expiration_date: These Restricted Units vested in equal portions over a four-year period. The initial vesting occurred on January 10, 2017.

SEC source: 0001179110-20-000576 · edgar.xml · derivative · entry 3

MACNOW JOSEPH · CIK 0001246482 · EVP - Finance, Chief Admin. Of

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 18,696

Underlying: Common Shares · 18,696 shares

Expires not disclosed

F3 · security: On January 13, 2020, the reporting person received a grant of restricted units (the "Restricted Units") of Vornado Realty L.P. (the "Operating Partnership"), the operating partnership of Vornado Realty Trust (the "Company" or "VNO"). 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 ("Class A Units"). Class A Units of 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.

F3 · derivative.exercise_price: On January 13, 2020, the reporting person received a grant of restricted units (the "Restricted Units") of Vornado Realty L.P. (the "Operating Partnership"), the operating partnership of Vornado Realty Trust (the "Company" or "VNO"). 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 ("Class A Units"). Class A Units of 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.

F3 · price: On January 13, 2020, the reporting person received a grant of restricted units (the "Restricted Units") of Vornado Realty L.P. (the "Operating Partnership"), the operating partnership of Vornado Realty Trust (the "Company" or "VNO"). 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 ("Class A Units"). Class A Units of 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.

F4 · derivative.exercise_date: The Restricted Units vest immediately.

F4 · derivative.expiration_date: The Restricted Units vest immediately.

SEC source: 0001179110-20-000576 · edgar.xml · nonDerivative · entry 2

MACNOW JOSEPH · CIK 0001246482 · EVP - Finance, Chief Admin. Of

10b5-1 filing: Not disclosed

Ownership: Indirect · Held by Spouse

Disclosed balance after: 3,128

F1 · kind: These Common Shares were a gift.

F2 · ownership.nature: These Common Shares are held by Mr. Macnow's spouse. The filing of this Form 4 shall not be deemed an admission that Mr. Macnow is the beneficial owner of the Common Shares.

SEC source: 0001179110-19-007748 · edgar.xml · derivative · entry 1

MACNOW JOSEPH · CIK 0001246482 · EVP - Finance, CFO & CAO

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 7,474

Underlying: Common Shares · 84 shares

Expires not disclosed

F1 · derivative.exercise_price: Conversion or exercise price of 1 for 1. The Phantom Units represent compensation deferred by the Reporting Person into interests held through the Vornado Realty Trust Nonqualified Deferred Compensation Plan (the "NDCP") that are valued with respect to the underlying security, which in this case are Common Shares of Vornado Realty Trust (the "Common Shares"). The Reporting Person has no right to take possession of the underlying security.

F2 · derivative.exercise_date: The Phantom Units became payable in cash to the Reporting Person commencing at a future date from the NDCP.

F2 · derivative.expiration_date: The Phantom Units became payable in cash to the Reporting Person commencing at a future date from the NDCP.

SEC source: 0001179110-19-007507 · edgar.xml · derivative · entry 1

MACNOW JOSEPH · CIK 0001246482 · EVP - Finance, CFO & CAO

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 7,558

Underlying: Common Shares · 2,307 shares

Expires not disclosed

F1 · derivative.exercise_price: Conversion or exercise price of 1 for 1. The Phantom Units represent compensation deferred by the Reporting Person into interests held through the Vornado Realty Trust Nonqualified Deferred Compensation Plan (the "NDCP") that are valued with respect to the underlying security, which in this case are Common Shares of Vornado Realty Trust (the "Common Shares"). The Reporting Person has no right to take possession of the underlying security.

F3 · price: Represents weighted average sale price of the underlying security by the NDCP. These Common Shares were sold by the NDCP through the execution of a single market order at prices ranging between $68.6193 and $68.6201. Full information regarding the number of shares sold at each separate price will be provided upon request by the staff of the Securities and Exchange Commission, the issuer, or a security holder of the issuer.

F2 · derivative.exercise_date: The Phantom Units became payable in cash to the Reporting Person commencing at a future date from the NDCP.

F2 · derivative.expiration_date: The Phantom Units became payable in cash to the Reporting Person commencing at a future date from the NDCP.

SEC source: 0001179110-19-007153 · edgar.xml · derivative · entry 1

MACNOW JOSEPH · CIK 0001246482 · EVP - Finance, CFO & CAO

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 25,700

Underlying: Preferred Shares, Series K · 12,500 shares

Expires not disclosed

F1 · derivative.exercise_price: Conversion or exercise price of 1 for 1. The Phantom Units represent compensation deferred by the Reporting Person into interests held through the Vornado Realty Trust Nonqualified Deferred Compensation Plan (the "NDCP") that are valued with respect to the underlying security, which in this case is Preferred Shares, Series K, of Vornado Realty Trust (the "Preferred Shares"). The Reporting Person has no right to take possession of the underlying security.

F3 · price: Represents weighted average sale price of the underlying security by the NDCP. These Preferred Shares were sold by the NDCP through the execution of a single market order at prices ranging between $25.05 and $25.22. Full information regarding the number of shares sold at each separate price will be provided upon request by the staff of the Securities and Exchange Commission, the issuer, or a security holder of the issuer.

F2 · derivative.exercise_date: The Phantom Units became payable in cash to the Reporting Person commencing at a future date from the NDCP.

F2 · derivative.expiration_date: The Phantom Units became payable in cash to the Reporting Person commencing at a future date from the NDCP.

SEC source: 0001179110-20-000576 · edgar.xml · nonDerivative · entry 1

MACNOW JOSEPH · CIK 0001246482 · EVP - Finance, Chief Admin. Of

10b5-1 filing: Not disclosed

Ownership: Indirect · Held by Spouse

Disclosed balance after: 3,500

F1 · kind: These Common Shares were a gift.

F2 · ownership.nature: These Common Shares are held by Mr. Macnow's spouse. The filing of this Form 4 shall not be deemed an admission that Mr. Macnow is the beneficial owner of the Common Shares.

SEC source: 0001179110-19-003227 · edgar.xml · derivative · entry 3

MACNOW JOSEPH · CIK 0001246482 · EVP - Finance, CFO & CAO

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 131,591

Underlying: Common Shares · 14,209 shares

Expires not disclosed

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F5 · derivative.exercise_price: 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, at the issuer's election, Common Shares 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 · price: 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, at the issuer's election, Common Shares 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 · derivative.exercise_date: 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, at the issuer's election, Common Shares 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 · derivative.expiration_date: 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, at the issuer's election, Common Shares of the Issuer on a one for one basis or the cash value of such shares. Class A Units do not have expiration dates.

SEC source: 0001179110-19-003227 · edgar.xml · derivative · entry 2

MACNOW JOSEPH · CIK 0001246482 · EVP - Finance, CFO & CAO

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 0

Underlying: Common Shares · 8,832 shares

Expires not disclosed

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F3 · derivative.exercise_price: The LTIP Units are a class of units of the Operating Partnership conditioned upon minimum allocations to the capital accounts of the LTIP Units for federal income tax purposes. The LTIP Units are convertible by the reporting person, upon vesting, into an equivalent number of Class A Units of the Operating Partnership, which are redeemable (subject to certain limitations set forth in the Operating Partnership limited partnership agreement), by the holder for Common Shares of 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 Class A Units and redeem Class A Units do not have expiration dates.

F3 · price: The LTIP Units are a class of units of the Operating Partnership conditioned upon minimum allocations to the capital accounts of the LTIP Units for federal income tax purposes. The LTIP Units are convertible by the reporting person, upon vesting, into an equivalent number of Class A Units of the Operating Partnership, which are redeemable (subject to certain limitations set forth in the Operating Partnership limited partnership agreement), by the holder for Common Shares of 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 Class A Units and redeem Class A Units do not have expiration dates.

F3 · derivative.exercise_date: The LTIP Units are a class of units of the Operating Partnership conditioned upon minimum allocations to the capital accounts of the LTIP Units for federal income tax purposes. The LTIP Units are convertible by the reporting person, upon vesting, into an equivalent number of Class A Units of the Operating Partnership, which are redeemable (subject to certain limitations set forth in the Operating Partnership limited partnership agreement), by the holder for Common Shares of 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 Class A Units and redeem Class A Units do not have expiration dates.

F4 · derivative.exercise_date: Earned LTIP Units vested one-third on each of January 10, 2017, 2018 and 2019.

F3 · derivative.expiration_date: The LTIP Units are a class of units of the Operating Partnership conditioned upon minimum allocations to the capital accounts of the LTIP Units for federal income tax purposes. The LTIP Units are convertible by the reporting person, upon vesting, into an equivalent number of Class A Units of the Operating Partnership, which are redeemable (subject to certain limitations set forth in the Operating Partnership limited partnership agreement), by the holder for Common Shares of 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 Class A Units and redeem Class A Units do not have expiration dates.

SEC source: 0001179110-19-003227 · edgar.xml · derivative · entry 1

MACNOW JOSEPH · CIK 0001246482 · EVP - Finance, CFO & CAO

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 5,378

Underlying: Common Shares · 5,377 shares

Expires not disclosed

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F1 · derivative.exercise_price: On January 14, 2016, the reporting person received a grant of Restricted Units of the Operating Partnership. These Restricted Units are being converted into Class A Units on a one for one basis pursuant to their terms.

F1 · price: On January 14, 2016, the reporting person received a grant of Restricted Units of the Operating Partnership. These Restricted Units are being converted into Class A Units on a one for one basis pursuant to their terms.

F2 · derivative.exercise_date: These Restricted Units vested in equal portions over a four-year period. The initial vesting occurred on January 10, 2017.

F2 · derivative.expiration_date: These Restricted Units vested in equal portions over a four-year period. The initial vesting occurred on January 10, 2017.

SEC source: 0001179110-19-000786 · edgar.xml · derivative · entry 2

MACNOW JOSEPH · CIK 0001246482 · EVP - Finance, Chief Admin. Of

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 56,472

Underlying: Common Shares · 56,472 shares

Expires 2029-01-14

F3 · security: On January 14, 2019, the reporting person received a grant of appreciation only restricted units (the "AO RUs") of the Operating Partnership. The AO RUs 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 determined by reference to the increase in the value of a VNO common share at the time of conversion over the value of a VNO common share at the time of grant. Class A Units of 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.

F3 · derivative.exercise_price: On January 14, 2019, the reporting person received a grant of appreciation only restricted units (the "AO RUs") of the Operating Partnership. The AO RUs 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 determined by reference to the increase in the value of a VNO common share at the time of conversion over the value of a VNO common share at the time of grant. Class A Units of 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.

F3 · price: On January 14, 2019, the reporting person received a grant of appreciation only restricted units (the "AO RUs") of the Operating Partnership. The AO RUs 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 determined by reference to the increase in the value of a VNO common share at the time of conversion over the value of a VNO common share at the time of grant. Class A Units of 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.

F4 · derivative.exercise_date: The AO RUs vest in equal portions over a four-year period with the initial vesting occurring on January 10, 2020. The right to convert the AO RUs into Class A units has a maximum term of 10 years. The right to redeem Class A Units does not have an expiration date.

SEC source: 0001179110-19-000786 · edgar.xml · derivative · entry 1

MACNOW JOSEPH · CIK 0001246482 · EVP - Finance, Chief Admin. Of

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 35,694

Underlying: Common Shares · 35,694 shares

Expires not disclosed

F1 · security: On January 14, 2019, the reporting person received a grant of restricted units (the "Restricted Units") of Vornado Realty L.P. (the "Operating Partnership"), the operating partnership of Vornado Realty Trust (the "Company" or "VNO"). 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 ("Class A Units"). Class A Units of 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.

F1 · derivative.exercise_price: On January 14, 2019, the reporting person received a grant of restricted units (the "Restricted Units") of Vornado Realty L.P. (the "Operating Partnership"), the operating partnership of Vornado Realty Trust (the "Company" or "VNO"). 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 ("Class A Units"). Class A Units of 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.

F1 · price: On January 14, 2019, the reporting person received a grant of restricted units (the "Restricted Units") of Vornado Realty L.P. (the "Operating Partnership"), the operating partnership of Vornado Realty Trust (the "Company" or "VNO"). 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 ("Class A Units"). Class A Units of 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.

F2 · derivative.exercise_date: The Restricted Units vest in equal portions over a four-year period with the initial vesting occurring on January 10, 2020.

F2 · derivative.expiration_date: The Restricted Units vest in equal portions over a four-year period with the initial vesting occurring on January 10, 2020.

SEC source: 0001179110-19-000880 · edgar.xml · derivative · entry 3

MACNOW JOSEPH · CIK 0001246482 · EVP - Finance, Chief Admin. Of

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 56,472

Underlying: Common Shares · 56,472 shares

Expires 2029-01-14

F4 · security: On January 14, 2019, the reporting person received a grant of appreciation only restricted units (the "AO RUs") of the Operating Partnership. The AO RUs 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 determined by reference to the increase in the value of a VNO common share at the time of conversion over the value of a VNO common share at the time of grant. Class A Units of 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. This grant was previously reported on January 16, 2019.

F4 · derivative.exercise_price: On January 14, 2019, the reporting person received a grant of appreciation only restricted units (the "AO RUs") of the Operating Partnership. The AO RUs 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 determined by reference to the increase in the value of a VNO common share at the time of conversion over the value of a VNO common share at the time of grant. Class A Units of 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. This grant was previously reported on January 16, 2019.

F4 · price: On January 14, 2019, the reporting person received a grant of appreciation only restricted units (the "AO RUs") of the Operating Partnership. The AO RUs 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 determined by reference to the increase in the value of a VNO common share at the time of conversion over the value of a VNO common share at the time of grant. Class A Units of 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. This grant was previously reported on January 16, 2019.

F5 · derivative.exercise_date: The AO RUs vest in equal portions over a four-year period with the initial vesting occurring on January 10, 2020; provided, however, that if VNO common shares do not trade on the principal exchange on which the common shares are listed for 20 consecutive trading days during the four-year period commencing on the grant date of the AO RUs at a price that is at least 110% of value of a VNO common share on the date of grant of the AO RUs then the AO RUs will have lapsed and have no value. The right to convert the AO RUs into Class A units has a maximum term of 10 years. The right to redeem Class A Units does not have an expiration date. The reporting person's Form 4 filed on January 16, 2019 inadvertently omitted a portion of this footnote.

SEC source: 0001179110-19-000880 · edgar.xml · derivative · entry 2

MACNOW JOSEPH · CIK 0001246482 · EVP - Finance, Chief Admin. Of

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 19,386

Underlying: Common Shares · 19,386 shares

Expires not disclosed

F1 · security: On January 14, 2019, the reporting person received a grant of restricted units (the "Restricted Units") of Vornado Realty L.P. (the "Operating Partnership"), the operating partnership of Vornado Realty Trust (the "Company" or "VNO"). 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 ("Class A Units"). Class A Units of 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. This grant was previously reported on January 16, 2019.

F1 · derivative.exercise_price: On January 14, 2019, the reporting person received a grant of restricted units (the "Restricted Units") of Vornado Realty L.P. (the "Operating Partnership"), the operating partnership of Vornado Realty Trust (the "Company" or "VNO"). 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 ("Class A Units"). Class A Units of 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. This grant was previously reported on January 16, 2019.

F1 · price: On January 14, 2019, the reporting person received a grant of restricted units (the "Restricted Units") of Vornado Realty L.P. (the "Operating Partnership"), the operating partnership of Vornado Realty Trust (the "Company" or "VNO"). 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 ("Class A Units"). Class A Units of 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. This grant was previously reported on January 16, 2019.

F3 · derivative.exercise_date: The Restricted Units vest immediately on January 14, 2019. The reporting person's Form 4 filed on January 16, 2019 previously listed these Units as vesting in equal portions over a four year period with the initial vesting occurring on January 10, 2020.

F3 · derivative.expiration_date: The Restricted Units vest immediately on January 14, 2019. The reporting person's Form 4 filed on January 16, 2019 previously listed these Units as vesting in equal portions over a four year period with the initial vesting occurring on January 10, 2020.

SEC source: 0001179110-19-000880 · edgar.xml · derivative · entry 1

MACNOW JOSEPH · CIK 0001246482 · EVP - Finance, Chief Admin. Of

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 16,308

Underlying: Common Shares · 16,308 shares

Expires not disclosed

F1 · security: On January 14, 2019, the reporting person received a grant of restricted units (the "Restricted Units") of Vornado Realty L.P. (the "Operating Partnership"), the operating partnership of Vornado Realty Trust (the "Company" or "VNO"). 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 ("Class A Units"). Class A Units of 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. This grant was previously reported on January 16, 2019.

F1 · derivative.exercise_price: On January 14, 2019, the reporting person received a grant of restricted units (the "Restricted Units") of Vornado Realty L.P. (the "Operating Partnership"), the operating partnership of Vornado Realty Trust (the "Company" or "VNO"). 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 ("Class A Units"). Class A Units of 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. This grant was previously reported on January 16, 2019.

F1 · price: On January 14, 2019, the reporting person received a grant of restricted units (the "Restricted Units") of Vornado Realty L.P. (the "Operating Partnership"), the operating partnership of Vornado Realty Trust (the "Company" or "VNO"). 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 ("Class A Units"). Class A Units of 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. This grant was previously reported on January 16, 2019.

F2 · derivative.exercise_date: The Restricted Units vest in equal portions over a four-year period with the initial vesting occurring on January 10, 2020.

F2 · derivative.expiration_date: The Restricted Units vest in equal portions over a four-year period with the initial vesting occurring on January 10, 2020.

SEC source: 0001179110-18-013318 · edgar.xml · nonDerivative · entry 5

MACNOW JOSEPH · CIK 0001246482 · EVP - Finance, Chief Admin. Of

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 14,030

F4 · price: Represents weighted average sale price. These Common Shares were sold through the execution of a single market order at prices ranging between $70.8023 and $70.81. Full information regarding the number of shares sold at each separate price will be provided upon request by the staff of the Securities and Exchange Commission, the issuer, or a security holder of the issuer

F3 · balance_after: Common shares of beneficial interest, par value $.04 per share (the "Common Shares"), of Vornado Realty Trust ("the Company").

SEC source: 0001179110-18-013318 · edgar.xml · derivative · entry 6

MACNOW JOSEPH · CIK 0001246482 · EVP - Finance, Chief Admin. Of

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 0

Underlying: Common Shares · 51,078 shares

Expires 2019-02-27

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

SEC source: 0001179110-18-013318 · edgar.xml · nonDerivative · entry 4

MACNOW JOSEPH · CIK 0001246482 · EVP - Finance, Chief Admin. Of

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 37,030

F3 · balance_after: Common shares of beneficial interest, par value $.04 per share (the "Common Shares"), of Vornado Realty Trust ("the Company").

SEC source: 0001179110-18-013318 · edgar.xml · nonDerivative · entry 3

MACNOW JOSEPH · CIK 0001246482 · EVP - Finance, Chief Admin. Of

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 51,078

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F3 · balance_after: Common shares of beneficial interest, par value $.04 per share (the "Common Shares"), of Vornado Realty Trust ("the Company").

SEC source: 0001179110-18-013318 · edgar.xml · nonDerivative · entry 2

MACNOW JOSEPH · CIK 0001246482 · EVP - Finance, Chief Admin. Of

10b5-1 filing: Not disclosed

Ownership: Indirect · Held by Spouse

Disclosed balance after: 3,941

F1 · kind: These shares were a gift.

F3 · balance_after: Common shares of beneficial interest, par value $.04 per share (the "Common Shares"), of Vornado Realty Trust ("the Company").

F2 · ownership.nature: These Common Shares are held by Mr. Macnow's spouse. The filing of this Form 4 shall not be deemed an admission that Mr. Macnow is the beneficial owner of the Common Shares.

SEC source: 0001179110-18-013318 · edgar.xml · nonDerivative · entry 1

MACNOW JOSEPH · CIK 0001246482 · EVP - Finance, Chief Admin. Of

10b5-1 filing: Not disclosed

Ownership: Indirect · Held by Spouse

Disclosed balance after: 4,634

F1 · kind: These shares were a gift.

F3 · balance_after: Common shares of beneficial interest, par value $.04 per share (the "Common Shares"), of Vornado Realty Trust ("the Company").

F2 · ownership.nature: These Common Shares are held by Mr. Macnow's spouse. The filing of this Form 4 shall not be deemed an admission that Mr. Macnow is the beneficial owner of the Common Shares.

SEC source: 0001179110-18-005405 · edgar.xml · derivative · entry 5

MACNOW JOSEPH · CIK 0001246482 · EVP - Finance, CFO & CAO

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 117,382

Underlying: Common Shares · 29,766 shares

Expires not disclosed

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F8 · derivative.exercise_price: Class A Units are redeemable (subject to certain limitations set forth in the Operating Partnership limited partnership agreement) by the holder for cash or, at the issuer's election, Common Shares of the issuer on a one for one basis or the cash value of such shares.

F9 · price: 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, at the issuer's election, Common Shares of the Issuer on a one for one basis or the cash value of such shares. Class A Units do not have expiration dates.

F9 · derivative.exercise_date: 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, at the issuer's election, Common Shares of the Issuer on a one for one basis or the cash value of such shares. Class A Units do not have expiration dates.

F9 · derivative.expiration_date: 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, at the issuer's election, Common Shares of the Issuer on a one for one basis or the cash value of such shares. Class A Units do not have expiration dates.

SEC source: 0001179110-18-005405 · edgar.xml · derivative · entry 4

MACNOW JOSEPH · CIK 0001246482 · EVP - Finance, CFO & CAO

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 8,832

Underlying: Common Shares · 8,832 shares

Expires not disclosed

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F5 · derivative.exercise_price: The LTIP Units are a class of units of the Operating Partnership conditioned upon minimum allocations to the capital accounts of the LTIP Units for federal income tax purposes. The LTIP Units are convertible by the reporting person, upon vesting, into an equivalent number of Class A Units of the Operating Partnership, which are redeemable (subject to certain limitations set forth in the Operating Partnership limited partnership agreement), by the holder for Common Shares of 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 Class A Units and redeem Class A Units do not have expiration dates.

F5 · price: The LTIP Units are a class of units of the Operating Partnership conditioned upon minimum allocations to the capital accounts of the LTIP Units for federal income tax purposes. The LTIP Units are convertible by the reporting person, upon vesting, into an equivalent number of Class A Units of the Operating Partnership, which are redeemable (subject to certain limitations set forth in the Operating Partnership limited partnership agreement), by the holder for Common Shares of 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 Class A Units and redeem Class A Units do not have expiration dates.

F5 · derivative.exercise_date: The LTIP Units are a class of units of the Operating Partnership conditioned upon minimum allocations to the capital accounts of the LTIP Units for federal income tax purposes. The LTIP Units are convertible by the reporting person, upon vesting, into an equivalent number of Class A Units of the Operating Partnership, which are redeemable (subject to certain limitations set forth in the Operating Partnership limited partnership agreement), by the holder for Common Shares of 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 Class A Units and redeem Class A Units do not have expiration dates.

F7 · derivative.exercise_date: Earned LTIP Units vested one-third on each of January 10, 2017, 2018 and 2019.

F5 · derivative.expiration_date: The LTIP Units are a class of units of the Operating Partnership conditioned upon minimum allocations to the capital accounts of the LTIP Units for federal income tax purposes. The LTIP Units are convertible by the reporting person, upon vesting, into an equivalent number of Class A Units of the Operating Partnership, which are redeemable (subject to certain limitations set forth in the Operating Partnership limited partnership agreement), by the holder for Common Shares of 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 Class A Units and redeem Class A Units do not have expiration dates.

SEC source: 0001179110-18-005405 · edgar.xml · derivative · entry 3

MACNOW JOSEPH · CIK 0001246482 · EVP - Finance, CFO & CAO

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 0

Underlying: Common Shares · 6,073 shares

Expires not disclosed

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F5 · derivative.exercise_price: The LTIP Units are a class of units of the Operating Partnership conditioned upon minimum allocations to the capital accounts of the LTIP Units for federal income tax purposes. The LTIP Units are convertible by the reporting person, upon vesting, into an equivalent number of Class A Units of the Operating Partnership, which are redeemable (subject to certain limitations set forth in the Operating Partnership limited partnership agreement), by the holder for Common Shares of 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 Class A Units and redeem Class A Units do not have expiration dates.

F5 · price: The LTIP Units are a class of units of the Operating Partnership conditioned upon minimum allocations to the capital accounts of the LTIP Units for federal income tax purposes. The LTIP Units are convertible by the reporting person, upon vesting, into an equivalent number of Class A Units of the Operating Partnership, which are redeemable (subject to certain limitations set forth in the Operating Partnership limited partnership agreement), by the holder for Common Shares of 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 Class A Units and redeem Class A Units do not have expiration dates.

F5 · derivative.exercise_date: The LTIP Units are a class of units of the Operating Partnership conditioned upon minimum allocations to the capital accounts of the LTIP Units for federal income tax purposes. The LTIP Units are convertible by the reporting person, upon vesting, into an equivalent number of Class A Units of the Operating Partnership, which are redeemable (subject to certain limitations set forth in the Operating Partnership limited partnership agreement), by the holder for Common Shares of 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 Class A Units and redeem Class A Units do not have expiration dates.

F6 · derivative.exercise_date: Earned LTIP Units vested one-third on each of March 15, 2016, 2017 and 2018.

F5 · derivative.expiration_date: The LTIP Units are a class of units of the Operating Partnership conditioned upon minimum allocations to the capital accounts of the LTIP Units for federal income tax purposes. The LTIP Units are convertible by the reporting person, upon vesting, into an equivalent number of Class A Units of the Operating Partnership, which are redeemable (subject to certain limitations set forth in the Operating Partnership limited partnership agreement), by the holder for Common Shares of 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 Class A Units and redeem Class A Units do not have expiration dates.

SEC source: 0001179110-18-005405 · edgar.xml · derivative · entry 2

MACNOW JOSEPH · CIK 0001246482 · EVP - Finance, CFO & CAO

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 10,755

Underlying: Common Shares · 9,747 shares

Expires not disclosed

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F3 · derivative.exercise_price: On January 14, 2016, the reporting person received a grant of Restricted Units of the Operating Partnership. These Restricted Units are being converted into Class A Units on a one for one basis pursuant to their terms.

F3 · price: On January 14, 2016, the reporting person received a grant of Restricted Units of the Operating Partnership. These Restricted Units are being converted into Class A Units on a one for one basis pursuant to their terms.

F4 · derivative.exercise_date: These Restricted Units vested in equal portions over a three-year period. The initial vesting occurred on January 10, 2017.

F4 · derivative.expiration_date: These Restricted Units vested in equal portions over a three-year period. The initial vesting occurred on January 10, 2017.

SEC source: 0001179110-18-005405 · edgar.xml · derivative · entry 1

MACNOW JOSEPH · CIK 0001246482 · EVP - Finance, CFO & CAO

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 0

Underlying: Common Shares · 5,124 shares

Expires not disclosed

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F1 · derivative.exercise_price: On January 10, 2014, the reporting person received a grant of restricted units (the "Restricted Units") of Vornado Realty L.P. (the "Operating Partnership"), the operating partnership of the Issuer. These Restricted Units are being converted into Class A Units of the Operating Partnership ("Class A Units") on a one for one basis pursuant to their terms. Class A Units are redeemable (subject to certain limitations set forth in the Operating Partnership limited partnership agreement) by the holder for cash or, at the issuer's election, Common Shares of the Issuer on a one for one basis or the cash value of such shares.

F1 · price: On January 10, 2014, the reporting person received a grant of restricted units (the "Restricted Units") of Vornado Realty L.P. (the "Operating Partnership"), the operating partnership of the Issuer. These Restricted Units are being converted into Class A Units of the Operating Partnership ("Class A Units") on a one for one basis pursuant to their terms. Class A Units are redeemable (subject to certain limitations set forth in the Operating Partnership limited partnership agreement) by the holder for cash or, at the issuer's election, Common Shares of the Issuer on a one for one basis or the cash value of such shares.

F2 · derivative.exercise_date: These Restricted Units vested in equal portions over a four-year period. The initial vesting occurred on January 10, 2015.

F2 · derivative.expiration_date: These Restricted Units vested in equal portions over a four-year period. The initial vesting occurred on January 10, 2015.

SEC source: 0001179110-18-004599 · edgar.xml · derivative · entry 1

MACNOW JOSEPH · CIK 0001246482 · EVP - Finance, Chief Admin. Of

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 31,078

Underlying: Common Shares · 31,078 shares

Expires not disclosed

F1 · security: On March 15, 2018, the reporting person received a grant of restricted units (the "Restricted Units") of Vornado Realty L.P. (the "Operating Partnership"), the operating partnership of Vornado Realty Trust ("the Company''). 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 ("Class A Units"). Class A Units of 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.

F1 · derivative.exercise_price: On March 15, 2018, the reporting person received a grant of restricted units (the "Restricted Units") of Vornado Realty L.P. (the "Operating Partnership"), the operating partnership of Vornado Realty Trust ("the Company''). 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 ("Class A Units"). Class A Units of 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.

F1 · price: On March 15, 2018, the reporting person received a grant of restricted units (the "Restricted Units") of Vornado Realty L.P. (the "Operating Partnership"), the operating partnership of Vornado Realty Trust ("the Company''). 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 ("Class A Units"). Class A Units of 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.

F2 · derivative.exercise_date: The Restricted Units vest in equal portions over a four-year period with the initial vesting occurring on March 15, 2019.

F2 · derivative.expiration_date: The Restricted Units vest in equal portions over a four-year period with the initial vesting occurring on March 15, 2019.

SEC source: 0001179110-18-001445 · edgar.xml · nonDerivative · entry 1

MACNOW JOSEPH · CIK 0001246482 · EVP - Finance, CFO & CAO

10b5-1 filing: Not disclosed

Ownership: Indirect · Held by Spouse

Disclosed balance after: 4,884

F1 · kind: These Common Shares were a gift.

F2 · ownership.nature: These Common Shares are held by Mr. Macnow's spouse. The filing of this Form 5 shall not be deemed an admission that Mr. Macnow is the beneficial owner of the Common Shares.

SEC source: 0001179110-17-005565 · edgar.xml · derivative · entry 6

MACNOW JOSEPH · CIK 0001246482 · EVP - Finance, CFO & CAO

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 87,606

Underlying: Common Shares · 29,768 shares

Expires not disclosed

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F9 · derivative.exercise_price: Class A Units are redeemable (subject to certain limitations set forth in the Operating Partnership limited partnership agreement) by the holder for cash or, at the issuer's election, Common Sharesof the issuer on a one for one basis or the cash value of such shares.

F10 · price: 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, at the issuer'selection, Common Shares of the Issuer on a one for one basis or the cash value of such shares. Class A Units do not have expiration dates.

F10 · derivative.exercise_date: 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, at the issuer'selection, Common Shares of the Issuer on a one for one basis or the cash value of such shares. Class A Units do not have expiration dates.

F10 · derivative.expiration_date: 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, at the issuer'selection, Common Shares of the Issuer on a one for one basis or the cash value of such shares. Class A Units do not have expiration dates.

SEC source: 0001179110-17-005565 · edgar.xml · derivative · entry 5

MACNOW JOSEPH · CIK 0001246482 · EVP - Finance, CFO & CAO

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 14,355

Underlying: Common Shares · 10,854 shares

Expires not disclosed

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F5 · derivative.exercise_price: The LTIP Units are a class of units of the Operating Partnership conditioned upon minimum allocations to the capital accounts of the LTIP Units for federal income tax purposes. The LTIP Units are convertible by the reporting person, upon vesting, into an equivalent number of Class A Units of the Operating Partnership, which are redeemable (subject to certain limitations set forth in the Operating Partnership limited partnership agreement), by the holder for Common Shares of 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 Class A Units and redeem Class A Units do not have expiration dates.

F5 · price: The LTIP Units are a class of units of the Operating Partnership conditioned upon minimum allocations to the capital accounts of the LTIP Units for federal income tax purposes. The LTIP Units are convertible by the reporting person, upon vesting, into an equivalent number of Class A Units of the Operating Partnership, which are redeemable (subject to certain limitations set forth in the Operating Partnership limited partnership agreement), by the holder for Common Shares of 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 Class A Units and redeem Class A Units do not have expiration dates.

F5 · derivative.exercise_date: The LTIP Units are a class of units of the Operating Partnership conditioned upon minimum allocations to the capital accounts of the LTIP Units for federal income tax purposes. The LTIP Units are convertible by the reporting person, upon vesting, into an equivalent number of Class A Units of the Operating Partnership, which are redeemable (subject to certain limitations set forth in the Operating Partnership limited partnership agreement), by the holder for Common Shares of 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 Class A Units and redeem Class A Units do not have expiration dates.

F8 · derivative.exercise_date: Other than 3,677, LTIP Units to be issued to the reporting person under the Plan based upon a dividend accrual, earned LTIP Units will vest one-third on each of January 10, 2017, 2018 and 2019.

F5 · derivative.expiration_date: The LTIP Units are a class of units of the Operating Partnership conditioned upon minimum allocations to the capital accounts of the LTIP Units for federal income tax purposes. The LTIP Units are convertible by the reporting person, upon vesting, into an equivalent number of Class A Units of the Operating Partnership, which are redeemable (subject to certain limitations set forth in the Operating Partnership limited partnership agreement), by the holder for Common Shares of 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 Class A Units and redeem Class A Units do not have expiration dates.

SEC source: 0001179110-17-005565 · edgar.xml · derivative · entry 4

MACNOW JOSEPH · CIK 0001246482 · EVP - Finance, CFO & CAO

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 4,935

Underlying: Common Shares · 4,935 shares

Expires not disclosed

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F5 · derivative.exercise_price: The LTIP Units are a class of units of the Operating Partnership conditioned upon minimum allocations to the capital accounts of the LTIP Units for federal income tax purposes. The LTIP Units are convertible by the reporting person, upon vesting, into an equivalent number of Class A Units of the Operating Partnership, which are redeemable (subject to certain limitations set forth in the Operating Partnership limited partnership agreement), by the holder for Common Shares of 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 Class A Units and redeem Class A Units do not have expiration dates.

F5 · price: The LTIP Units are a class of units of the Operating Partnership conditioned upon minimum allocations to the capital accounts of the LTIP Units for federal income tax purposes. The LTIP Units are convertible by the reporting person, upon vesting, into an equivalent number of Class A Units of the Operating Partnership, which are redeemable (subject to certain limitations set forth in the Operating Partnership limited partnership agreement), by the holder for Common Shares of 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 Class A Units and redeem Class A Units do not have expiration dates.

F5 · derivative.exercise_date: The LTIP Units are a class of units of the Operating Partnership conditioned upon minimum allocations to the capital accounts of the LTIP Units for federal income tax purposes. The LTIP Units are convertible by the reporting person, upon vesting, into an equivalent number of Class A Units of the Operating Partnership, which are redeemable (subject to certain limitations set forth in the Operating Partnership limited partnership agreement), by the holder for Common Shares of 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 Class A Units and redeem Class A Units do not have expiration dates.

F7 · derivative.exercise_date: Earned LTIP Units will vest one-third on each of March 15, 2016, 2017 and 2018

F5 · derivative.expiration_date: The LTIP Units are a class of units of the Operating Partnership conditioned upon minimum allocations to the capital accounts of the LTIP Units for federal income tax purposes. The LTIP Units are convertible by the reporting person, upon vesting, into an equivalent number of Class A Units of the Operating Partnership, which are redeemable (subject to certain limitations set forth in the Operating Partnership limited partnership agreement), by the holder for Common Shares of 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 Class A Units and redeem Class A Units do not have expiration dates.

SEC source: 0001179110-17-005565 · edgar.xml · derivative · entry 3

MACNOW JOSEPH · CIK 0001246482 · EVP - Finance, CFO & CAO

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 0

Underlying: Common Shares · 5,655 shares

Expires not disclosed

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F5 · derivative.exercise_price: The LTIP Units are a class of units of the Operating Partnership conditioned upon minimum allocations to the capital accounts of the LTIP Units for federal income tax purposes. The LTIP Units are convertible by the reporting person, upon vesting, into an equivalent number of Class A Units of the Operating Partnership, which are redeemable (subject to certain limitations set forth in the Operating Partnership limited partnership agreement), by the holder for Common Shares of 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 Class A Units and redeem Class A Units do not have expiration dates.

F5 · price: The LTIP Units are a class of units of the Operating Partnership conditioned upon minimum allocations to the capital accounts of the LTIP Units for federal income tax purposes. The LTIP Units are convertible by the reporting person, upon vesting, into an equivalent number of Class A Units of the Operating Partnership, which are redeemable (subject to certain limitations set forth in the Operating Partnership limited partnership agreement), by the holder for Common Shares of 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 Class A Units and redeem Class A Units do not have expiration dates.

F5 · derivative.exercise_date: The LTIP Units are a class of units of the Operating Partnership conditioned upon minimum allocations to the capital accounts of the LTIP Units for federal income tax purposes. The LTIP Units are convertible by the reporting person, upon vesting, into an equivalent number of Class A Units of the Operating Partnership, which are redeemable (subject to certain limitations set forth in the Operating Partnership limited partnership agreement), by the holder for Common Shares of 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 Class A Units and redeem Class A Units do not have expiration dates.

F6 · derivative.exercise_date: Earned LTIP Units vested one-third on each of March 30, 2015, 2016 and 2017.

F5 · derivative.expiration_date: The LTIP Units are a class of units of the Operating Partnership conditioned upon minimum allocations to the capital accounts of the LTIP Units for federal income tax purposes. The LTIP Units are convertible by the reporting person, upon vesting, into an equivalent number of Class A Units of the Operating Partnership, which are redeemable (subject to certain limitations set forth in the Operating Partnership limited partnership agreement), by the holder for Common Shares of 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 Class A Units and redeem Class A Units do not have expiration dates.

SEC source: 0001179110-17-005565 · edgar.xml · derivative · entry 2

MACNOW JOSEPH · CIK 0001246482 · EVP - Finance, CFO & CAO

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 4,164

Underlying: Common Shares · 4,164 shares

Expires not disclosed

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F3 · derivative.exercise_price: On January 10, 2014, the reporting person received a grant of Restricted Units of the Operating Partnership. These Restricted Units are being converted into Class A Units on a one for one basis pursuant to their terms.

F3 · price: On January 10, 2014, the reporting person received a grant of Restricted Units of the Operating Partnership. These Restricted Units are being converted into Class A Units on a one for one basis pursuant to their terms.

F4 · derivative.exercise_date: These Restricted Units vested in equal portions over a four-year period. The initial vesting occurred on January 10, 2015.

F4 · derivative.expiration_date: These Restricted Units vested in equal portions over a four-year period. The initial vesting occurred on January 10, 2015.

SEC source: 0001179110-17-005565 · edgar.xml · derivative · entry 1

MACNOW JOSEPH · CIK 0001246482 · EVP - Finance, CFO & CAO

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 0

Underlying: Common Shares · 4,160 shares

Expires not disclosed

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F1 · derivative.exercise_price: On March 15, 2013, the reporting person received a grant of restricted units (the "Restricted Units") of Vornado Realty L.P. (the "Operating Partnership"), the operating partnership of the Issuer. These Restricted Units are being converted into Class A Units of the Operating Partnership ("Class A Units") on a one for one basis pursuant to their terms. Class A Units are redeemable (subject to certain limitations set forth in the Operating Partnership limited partnership agreement) by the holder for cash or, at the issuer's election, Common Shares of the Issuer on a one for one basis or the cash value of such shares.

F1 · price: On March 15, 2013, the reporting person received a grant of restricted units (the "Restricted Units") of Vornado Realty L.P. (the "Operating Partnership"), the operating partnership of the Issuer. These Restricted Units are being converted into Class A Units of the Operating Partnership ("Class A Units") on a one for one basis pursuant to their terms. Class A Units are redeemable (subject to certain limitations set forth in the Operating Partnership limited partnership agreement) by the holder for cash or, at the issuer's election, Common Shares of the Issuer on a one for one basis or the cash value of such shares.

F2 · derivative.exercise_date: These Restricted Units vested in equal portions over a four-year period. The initial vesting occurred on February 27, 2014.

F2 · derivative.expiration_date: These Restricted Units vested in equal portions over a four-year period. The initial vesting occurred on February 27, 2014.

SEC source: 0001179110-17-001031 · edgar.xml · derivative · entry 2

MACNOW JOSEPH · CIK 0001246482 · EVP - Finance, Chief Admin. Of

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 25,209

Underlying: Common Shares · 25,209 shares

Expires not disclosed

F3 · security: Represents LTIP Units ("LTIP Units") of Vornado Realty L.P. ("the Operating Partnership").

F4 · derivative.exercise_price: The LTIP Units are a class of units of the Operating Partnership through which Vornado Realty Trust (the "Issuer") conducts its business, conditioned upon minimum allocations to the capital accounts of the LTIP Units for federal income tax purposes. The LTIP Units are convertible by the reporting person, upon vesting, into an equivalent number of Class A Units of the Operating Partnership, which are redeemable(subject to certain limitations set forth in the Operating Partnership limited partnership agreement), by the holder for Common Shares of 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 Class A Units and redeem Class A Units do not have expiration dates.

F5 · date: Pursuant to the terms of the Vornado Realty Trust 2014 Outperformance Plan (the "Plan") the LTIP Units referenced in this Form 4 were issued on January 10, 2014 and were "earned" upon the achievement of performance hurdles as of January 10, 2017, subject to a determination by the Compensation Committee of the Issuer's Board of Trustees (the "Compensation Committee")that such hurdles were met. The determination that these performance hurdles were met was made by the Compensation Committee on January 13, 2017.

F6 · shares: Represents the number of LTIP Units "earned" as of January 13, 2017, based upon certain performance hurdles having been met by the Issuer and the percentage of the Reporting Person's interest in the performance pool established by the Issuer under the Plan.

F4 · derivative.exercise_date: The LTIP Units are a class of units of the Operating Partnership through which Vornado Realty Trust (the "Issuer") conducts its business, conditioned upon minimum allocations to the capital accounts of the LTIP Units for federal income tax purposes. The LTIP Units are convertible by the reporting person, upon vesting, into an equivalent number of Class A Units of the Operating Partnership, which are redeemable(subject to certain limitations set forth in the Operating Partnership limited partnership agreement), by the holder for Common Shares of 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 Class A Units and redeem Class A Units do not have expiration dates.

F7 · derivative.exercise_date: Other than 3,677 LTIP Units to be issued to the reporting person under the Plan based upon a dividend accrual, earned LTIP Units vest one third on each of January 10, 2017, 2018 and 2019.

F4 · derivative.expiration_date: The LTIP Units are a class of units of the Operating Partnership through which Vornado Realty Trust (the "Issuer") conducts its business, conditioned upon minimum allocations to the capital accounts of the LTIP Units for federal income tax purposes. The LTIP Units are convertible by the reporting person, upon vesting, into an equivalent number of Class A Units of the Operating Partnership, which are redeemable(subject to certain limitations set forth in the Operating Partnership limited partnership agreement), by the holder for Common Shares of 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 Class A Units and redeem Class A Units do not have expiration dates.

SEC source: 0001179110-17-001031 · edgar.xml · derivative · entry 1

MACNOW JOSEPH · CIK 0001246482 · EVP - Finance, Chief Admin. Of

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 15,557

Underlying: Common Shares · 15,557 shares

Expires not disclosed

F1 · security: On January 14, 2017, the reporting person received a grant of restricted units (the "Restricted Units") of Vornado Realty L.P. (the "Operating Partnership"), the operating partnership of Vornado Realty Trust ("the Company''). 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 ("Class A Units"). Class A Units of 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.

F1 · derivative.exercise_price: On January 14, 2017, the reporting person received a grant of restricted units (the "Restricted Units") of Vornado Realty L.P. (the "Operating Partnership"), the operating partnership of Vornado Realty Trust ("the Company''). 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 ("Class A Units"). Class A Units of 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.

F1 · price: On January 14, 2017, the reporting person received a grant of restricted units (the "Restricted Units") of Vornado Realty L.P. (the "Operating Partnership"), the operating partnership of Vornado Realty Trust ("the Company''). 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 ("Class A Units"). Class A Units of 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.

F2 · derivative.exercise_date: The Restricted Units vest in equal portions over a four-year period with the initial vesting occurring on January 10, 2018.

F2 · derivative.expiration_date: The Restricted Units vest in equal portions over a four-year period with the initial vesting occurring on January 10, 2018.

SEC source: 0001179110-16-032733 · edgar.xml · nonDerivative · entry 3

MACNOW JOSEPH · CIK 0001246482 · EVP - Finance, Chief Admin. Of

10b5-1 filing: Not disclosed

Ownership: Indirect · Held by Spouse

Disclosed balance after: 5,078

F2 · security: Common shares of beneficial interest, par value $.04 per share. After the gift, Mr. Macnow's spouse is the beneficial owner of 15,078 Common Shares of Vornado Realty Trust (the "Company").

F4 · price: Represents weighted average sale price. These Common Shares were sold through the execution of a single market order at prices ranging between $102.44 and $102.97. Full information regarding the number of shares sold at each separate price will be provided upon request by the staff of the Securities and Exchange Commission, the Company, or a security holder of the Company.

F5 · ownership.nature: These Common Shares are held by Mr. Macnow's spouse. The filing of this Form 4 shall not be deemed an admission that Mr. Macnow is the beneficial owner of the Common Shares.

SEC source: 0001179110-16-032733 · edgar.xml · nonDerivative · entry 2

MACNOW JOSEPH · CIK 0001246482 · EVP - Finance, Chief Admin. Of

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 0

F2 · security: Common shares of beneficial interest, par value $.04 per share. After the gift, Mr. Macnow's spouse is the beneficial owner of 15,078 Common Shares of Vornado Realty Trust (the "Company").

F3 · price: Represents weighted average sale price. These Common Shares were sold through the execution of a single market order at prices ranging between $102.90 and $103.38. Full information regarding the number of shares sold at each separate price will be provided upon request by the staff of the Securities and Exchange Commission, the Company, or a security holder of the Company.

SEC source: 0001179110-16-032733 · edgar.xml · nonDerivative · entry 1

MACNOW JOSEPH · CIK 0001246482 · EVP - Finance, Chief Admin. Of

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 30,000

F2 · security: Common shares of beneficial interest, par value $.04 per share. After the gift, Mr. Macnow's spouse is the beneficial owner of 15,078 Common Shares of Vornado Realty Trust (the "Company").

F1 · kind: These Common Shares were a gift to Mr. Macnow's spouse.