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: 2015-01-07

Reporting Person: MACNOW JOSEPH (EVP - Finance, Chief Admin. Of)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2015-01-07	Common Shares	S	24397	$121.494	Disposed	11884	Indirect
2015-01-07	Common Shares	S	6266	$122.214	Disposed	5618	Indirect

Footnotes

F1: Represents weighted average sale price. These Common Shares were sold through the execution of a single market order at prices ranging between $120.99 and $121.973. 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: Common Shares of beneficial interest, par value $.04 per share (the "Common Shares") of Vornado Realty Trust (the "Company").

F3: Represents weighted average sale price. These Common Shares were sold through the execution of a single market order at prices ranging between $121.99 and $122.80. 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.

F4: 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.