Form 4: Vornado Director Mandakini Puri Receives Equity Grant

Director Mandakini Puri was granted 7,168 restricted units of Vornado Realty L.P. on May 21, 2026.

Summary

• Mandakini Puri, a Director at Vornado Realty Trust, received a grant of 7,168 restricted units.
• The grant occurred on May 21, 2026.
• The restricted units are convertible into Class A Units of the Operating Partnership, which are redeemable for cash or common shares of Vornado Realty Trust.
• The units vest immediately but are subject to transfer restrictions tied to the director's tenure on the Board.

Sentiment

Score: 5

Explanation: StockSavvy.ai views this as a routine administrative filing regarding director compensation with no material impact on company operations.

Positives

• Alignment of director interests with shareholders through equity-based compensation.

Negatives

• None identified.

Risks

• Transfer restrictions on the granted units remain in effect until the director leaves the Board of Trustees.

Future Outlook

The filing does not provide forward-looking financial guidance.

Industry Context

StockSavvy.ai notes that equity grants to board members are standard corporate governance practices in the REIT sector to ensure long-term alignment with shareholder interests.

Comparison to Industry Standards

• The grant structure is consistent with standard compensation practices for non-employee directors in large-cap REITs.

Corporate Governance

Stakeholder Impact

• Shareholders: Minimal impact; represents standard director compensation.

Next Steps

• The director will hold the units until departure from the Board of Trustees.

Key Dates

Keywords

Vornado Realty Trust, VNO, Insider Transaction, Form 4, Equity Grant, Director Compensation