X0303 4 2009-03-31 0 0000899689 VORNADO REALTY TRUST VNO 0001246482 MACNOW JOSEPH 210 ROUTE 4 EAST PARAMUS NJ 07652 0 1 0 0 CFO/EVP - Fin. & Admin. Options (Right to Buy) 103 2009-03-31 4 D 0 100000 0 D 2018-03-31 Common Shares 100000 0 D Options (Right to Buy) 121.58 2009-03-31 4 D 0 19092 0 D 2017-03-07 Common Shares 19092 0 D Restricted Units 2009-04-01 4 M 0 3115 D Common Shares 3115 2078 D LTIP Units 2009-04-01 4 M 0 15336 0 D Common Shares 15336 28589 D Class A Units 2009-04-01 4 M 0 18451 A Common Shares 18451 19631 D The undersigned reporting person surrendered voluntarily to Vornado Realty Trust (the "Company") the outstanding options issued by the Company to the undersigned without any consideration of any kind from the Company for such surrender. These Options were scheduled to vest ratably over a five-year period from the date of grant. On April 25, 2006, the reporting person received a grant of restricted units (the "Restricted Units") of Vornado Realty L.P. (the "Operating Partnership"), the operating partnership of the Company. The Restricted Units are a class of units of the Operating Partnership that, following the occurrence of certain events and upon vesting, are convertible by the holder into an equivalent number of Class A Units of the Operating Partnership. Class A Units are redeemable by the holder for cash or, at the Company's election, Common Shares of the Company on a one for one basis or the cash value of such shares. The Restricted Units vest in equal portions over a five-year period. The initial vesting occurred on April 1, 2007. The LTIP Units are a class of units of the Operating Partnership conditioned upon minimum allocations to the capital accounts of the LTIP Unit holder for federal income tax purposes. The LTIP Units are convertible by the reporting person, upon vesting, into an equivalent number of Class A Units of the Operating Partnership, which are redeemable by the holder for cash or, at the Company's election, Common Shares of the Company on a one for one basis or the cash value of such shares. The rights to convert LTIP Units into Class A Units and redeem Class A Units do not have expiration dates. Class A Units are redeemable by the holder for cash or, at the Company's election, Common Shares of the Company on a one for one basis or the cash value of such shares. These Class A Units are immediately redeemable (subject to certain limitations set forth in the Vornado Realty L.P.'s limited partnership agreement). Class A Units do not have expiration dates. Earned on 11/13/2006 and became exercisable upon vesting or upon receipt as a dividend payment. /s/ Steven Santora, Attorney in Fact 2009-04-02