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VORNADO REALTY TRUST Director's Dealing 2012

May 16, 2012

30744_dirs_2012-05-16_13fa9bd7-3d94-4dab-8a2c-11b392d7edc9.zip

Director's Dealing

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SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: VORNADO REALTY TRUST (VNO)
CIK: 0000899689
Period of Report: 2012-05-14

Reporting Person: SCHEAR MITCHELL N (President - VNO/Smith Division)

Non-Derivative Transactions

Date Security Code Shares Price A/D Holdings After Ownership
2012-05-14 Common Shares S 5875 $87.102 Disposed 54086 Direct
2012-05-15 Common Shares M 1400 $33.815 Acquired 55486 Direct
2012-05-15 Common Shares S 1400 $86.615 Disposed 54086 Direct

Derivative Transactions

Date Security Exercise Price Code Shares A/D Expiration Underlying Ownership
2012-05-15 Options (Right to Buy) $33.815 M 1400 Disposed 2019-02-27 Common Shares (1400) Direct

Footnotes

F1: Represents weighted average sale price. These Common Shares were sold through the execution of a single market order at prices ranging between $87.07 and $87.16. 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: Of these Common Shares, 873 are subject to restrictions on transfer imposed by the Company that expire on March 31, 2013.

F3: Represents weighted average sale price. These Common Shares were sold through the execution of a single market order at prices ranging between $86.60 and $86.64. 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.