X0304 4 2012-01-17 0 0000899689 VORNADO REALTY TRUST VNO 0001246482 MACNOW JOSEPH 210 ROUTE 4 EAST PARAMUS NJ 07652 0 1 0 0 CFO/EVP - Fin. & Admin. Common Shares 2012-01-17 4 J 0 7231 0 A 108621 D Class A Units 2012-01-17 4 J 0 7231 D Common Shares 7231 0 D Common shares of beneficial interest, par value $.04 per share (the "Common Shares"), of Vornado Realty Trust were issued upon the redemption and tender of Class A units ("Class A Units") of Vornado Realty L.P. on a one for one basis. 3,654 of these common shares are subject to restrictions on transfer imposed by Vornado Realty Trust of which 1,826 expire on March 31, 2012 and 1,826 expire on March 31, 2013. Class A Units may be redeemed at the election of the holder, in whole or in part for cash equal to the fair market value, at the time of redemption, of one Common Share for each Class A Unit redeemed or, at the option of Vornado Realty Trust, one such Common Share for each Class A Unit tendered for redemption. 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 have no expiration date. /s/ Steven Santora, Attorney in Fact 2012-01-17