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Stock-based Compensation (Tables)
 12 Months Ended
Dec. 31, 2021
Share-based Payment Arrangement [Abstract]  
Schedule Of Other Share Based Compensation, Activity Below is a summary of our stock-based compensation expense, a component of "general and administrative" expense on our consolidated statements of income.
 (Amounts in thousands)For the Year Ended December 31,
 202120202019
OP Units$27,698 $33,431 $39,969 
OPPs8,629 9,579 1,944 
AO LTIP Units877 3,955 2,636 
Vornado stock options456 656 547 
Vornado restricted stock450 649 549 
Performance Conditioned AO LTIP Units219 407 8,263 
$38,329 $48,677 $53,908 
Schedule of Unrecognized Compensation Expense
Below is a summary of unrecognized compensation expense for the year ended December 31, 2021.
(Amounts in thousands)As of
December 31, 2021		Weighted-Average
Remaining Contractual Term
OP Units$13,460 1.3
OPPs5,104 2.0
AO LTIP Units565 1.2
Vornado stock options489 1.4
Vornado restricted stock483 1.4
Performance Conditioned AO LTIP Units94 1.0
$20,195 1.5
Schedule Of Share Based Compensation Restricted Operating Partnership Units Earned
Below is the summary of the OPP units granted during the years December 31, 2021, 2020 and 2018.
Plan YearTotal Plan
Notional Amount		Percentage of Notional
Amount Granted
Grant Date
Fair Value(1)
OPP Units Earned
2021$30,000,000 99.1 %$9,950,000 To be determined in 2025
202035,000,000 94.0 %11,700,000 To be determined in 2023
201835,000,000 78.2 %10,300,000 Not earned
________________________________________
(1)    During the years ended December 31, 2021, 2020 and 2018, $6,140,000, $7,583,000 and $8,040,000, respectively, was immediately expensed on the respective grant date due to acceleration of vesting for employees who are retirement eligible (have reached age 65 or age 60 with at least 20 years of service).
Schedule Of Share Based Compensation Stock Options Activity
Below is a summary of Vornado’s stock option activity for the year ended December 31, 2021.
SharesWeighted-
Average
Exercise
Price		Weighted-
Average
Remaining
Contractual
Term		Aggregate
Intrinsic
Value
Outstanding as of December 31, 2020765,637 $64.79   
Exercised(598)36.72   
Forfeited(3,008)56.92 
Expired(570,098)64.70   
Outstanding as of December 31, 2021191,933 $65.27 5.75$152,920 
Options exercisable as of December 31, 2021124,805 $70.13 4.71$37,820 
Below is a summary of Performance Conditioned AO LTIP Units activity for the year ended December 31, 2021.
UnitsWeighted-Average
Grant-Date
Fair Value		Weighted-
Average
Remaining
Contractual
Term		Aggregate
Intrinsic
Value
Outstanding as of December 31, 2020496,792 
(1)
$62.62 
Outstanding as of December 31, 2021496,792 
(1)
$62.62 7.04$— 
Options exercisable at December 31, 2021322,313 $62.62 7.04$— 
________________________________________
(1)     Granted in 2019 at a grant price of $64.48 and a fair value of $8,983,000 at the date of grant.
Below is a summary of AO LTIP Units activity for the year ended December 31, 2021. 
SharesWeighted-
Average
Exercise
Price		Weighted-
Average
Remaining
Contractual
Term		Aggregate
Intrinsic
Value
Outstanding as of December 31, 2020717,581 $59.71  
Exercised(16,669)36.72 
Forfeited(60,927)56.30 
Expired(72,246)66.32  
Outstanding as of December 31, 2021567,739 $59.91 7.29$640,711 
Options exercisable as of December 31, 2021327,535 $61.83 7.06$279,164 
Schedule Of Share Based Payment Award Stock Options Valuation Assumptions The fair value of each option grant is estimated on the date of grant using an option-pricing model with the following weighted-average assumptions for grants in the years ended December 31, 2020 and 2019.
As of December 31,
 20202019
Expected volatility
35% - 36%
35%
Expected life5.0 years5.0 years
Risk free interest rate
0.57% - 1.76%
2.50%
Expected dividend yield
3.2% - 3.4%
2.9%
Expected volatility35%
Expected life8.0 years
Risk free interest rate2.76%
Expected dividend yield3.1%
The fair value of each AO LTIP Unit granted is estimated on the date of grant using an option-pricing model with the following weighted-average assumptions for grants in the years ended December 31, 2020 and 2019.
As of December 31,
 20202019
Expected volatility
35% - 36%
35%
Expected life5.0 years5.0 years
Risk free interest rate
0.57% - 1.76%
2.50%
Expected dividend yield
3.2% - 3.4%
2.90%
Schedule Of Share Based Compensation Restricted Operating Partnership Units Activity
Below is a summary of restricted OP unit activity for the year ended December 31, 2021.
Unvested UnitsUnitsWeighted-Average
Grant-Date
Fair Value
Unvested as of December 31, 20201,152,418 $53.17 
Granted816,019 32.10 
Vested(867,747)42.11 
Forfeited(17,603)52.73 
Unvested as of December 31, 20211,083,087 53.99 
Schedule Of Share Based Compensation Restricted Stock And Restricted Stock Units Activity
Below is a summary of Vornado’s restricted stock activity for the year ended December 31, 2021.
Unvested SharesSharesWeighted-Average
Grant-Date
Fair Value
Unvested as of December 31, 202025,315 $60.06 
Vested(8,833)64.17 
Forfeited(708)58.56 
Unvested as of December 31, 202115,774 57.82