VORNADO REALTY TRUST — Director's Dealing 2011

Apr 14, 2011

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: VORNADO REALTY TRUST (VNO)
CIK: 0000899689
Period of Report: 2011-04-14

Reporting Person: ROTH STEVEN (Director, Chairman)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2011-04-14	Common Shares	S	50000	$88.29	Disposed	1655969	Direct
2011-04-14	Common Shares	G	11400	—	Disposed	1644569	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Shares	3873	Indirect
Common Shares	37299	Indirect
Common Shares	931512	Indirect
Common Shares	5603548	Indirect

Footnotes

F1: Of these common shares of beneficial interest, par value $.04 per share (the "Common Shares"), of Vornado Realty Trust,(the "Company"), 6,847 are subject to restrictions on transfer imposed by Vornado Realty Trust of which 3,423 expire on March 31, 2012 and 3,424 expire on March 31, 2013.

F2: These Common Shares are held by the Daryl and Steven Roth Foundation, a charitable foundation, over which Mr. Roth holds sole voting and investment power. Mr. Roth disclaims any pecuniary interest in these Common Shares.

F3: These Common Shares are held by Mr. Roth's spouse. The filing of this Form 4 shall not be deemed an admission that Mr. Roth is the beneficial owner of the Common Shares.

F4: These Common Shares are held in grantor retained annuity trusts. The filing of this Form 4 shall not be deemed an admission that Mr. Roth is the beneficial owner of the Common Shares.

F5: 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 5,603,548 Common Shares, except to the extent of his pecuniary interest.

F6: These Common Shares were a gift to an institute of higher learning.