VORNADO REALTY TRUST — Director's Dealing 2016

Aug 26, 2016

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: VORNADO REALTY TRUST (VNO)
CIK: 0000899689
Period of Report: 2016-08-24

Reporting Person: Lynne Michael (Director)

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2016-08-24	Phantom Units	$	A	330	Acquired		Common Shares (330)	Direct

Footnotes

F1: Conversion or exercise price of 1 for 1. The Phantom Units represent compensation deferred by the Reporting Person into interests held through the Vornado Realty Trust Nonqualified Deferred Compensation Plan that are valued with respect to the underlying security, which in this case is common shares of Vornado Realty Trust.

F2: The Phantom Units become payable in cash or the underlying security, to the Reporting Person commencing upon a distribution at a future date from the Vornado Realty Trust Nonqualified Deferred Compensation Plan.

F3: Represents weighted average purchase price. These Common Shares were purchased through the execution of a single market order at prices ranging between $102.289 and $102.30. Full information regarding the number of shares purchased 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.