ALEXANDERS INC — Director's Dealing 2009

Mar 4, 2009

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: ALEXANDERS INC (ALX)
CIK: 0000003499
Period of Report: 2009-03-02

Reporting Person: ROTH STEVEN (Director, Chairman & CEO, 10% Owner)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2009-03-02	Common Stock	M	150000	$63.375	Acquired	159700	Direct
2009-03-02	Common Stock	D	150000	$139.50	Disposed	9700	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2009-03-02	Stock Appreciation Right	$63.375	M	150000	Disposed	2009-03-03	Common Stock (150000)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	1354568	Indirect

Footnotes

F1: These Common Shares are held by Interstate Properties, a New Jersey general partnership of which Mr. Roth is the managing general partner. The filing of this Form 4 shall not be deemed an admission that Mr. Roth is the beneficial owner of these 1,354,568 Common Shares, except to the extent of his pecuniary interest.

F2: Reflects a price reduction of $7.00 per share due to an anti-dilution adjustment resulting from a special dividend paid on October 30, 2008.

F3: These Stock Appreciation Rights were originally granted as options on March 4, 1999 under the Company's Share Plan. Effective August 1, 2000, they were converted by the Company into Stock Appreciation Rights and became fully vested and exercisable.