VORNADO REALTY TRUST — Director's Dealing 2015

Jan 8, 2015

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: VORNADO REALTY TRUST (VNO)
CIK: 0000899689
Period of Report: 2015-01-06

Reporting Person: Fascitelli Michael D (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2015-01-06	Common Shares	M	95030	$69.3752	Acquired	1762820	Direct
2015-01-06	Common Shares	F	74229	$120.64	Disposed	1688591	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2015-01-06	Options (Right to Buy)	$69.3752	M	95030	Disposed	2015-02-08	Common Shares (95030)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Shares	67537	Indirect
Common Shares	105191	Indirect
Common Shares	3150	Indirect

Footnotes

F1: Common shares of beneficial interest, par value $.04 per share (the "Common Shares"), of Vornado Realty Trust ("the Company").

F2: The Reporting Person disclaims beneficial ownership of these securities, and this report shall not be deemed an admission that the Reporting Person is the beneficial owner of these securities for the purpose of Section 16 or any other purpose, except to the extent of the Reporting Person's pecuniary interest.