Company: SLG-PI
Filing Date: 2025-02-18
Form Type: 10-K
Source: 0001040971-25-000010
Chunk: 112

Company: SL GREEN REALTY CORP
Filing Date: 2025-02-18
Form: 10-K
Item: Item 8
Chunk 112
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 the common units of the Operating Partnership.In December 2024, our Chairman, CEO and Interim President, Marc Holliday, received a grant of 217,917 Class O LTIP Units, in connection with his new employment agreement, that are subject to both time-based vesting conditions and performance-based vesting conditions. The performance-based vesting conditions are satisfied if the average share price of the Company's common stock equals or exceeds $100.00 as of any trailing twenty trading day period between the grant date and the fifth anniversary thereafter. Subject to achievement of the performance hurdle and continued employment, the Class O LTIP Units vest ratably on December 31, 2025, December 31, 2026, and December 31, 2027. The fair value of each stock option or LTIP Unit granted is estimated on the date of grant using the Black-Scholes option pricing model based on historical information with the following weighted average assumptions for grants during the year ended December 31, 2024 (there were no options granted during the years ended December 31, 2023 and 2022).202420232022Dividend yield5.5 %N/AN/AExpected life7.5 yearsN/AN/ARisk-free interest rate4.45 %N/AN/AExpected stock price volatility45.0 %N/AN/A

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Table of ContentsSL Green Realty Corp. and SL Green Operating Partnership, L.P.Notes to Consolidated Financial Statements (cont.)December 31, 2024    

A summary of the status of the Company's stock options as of December 31, 2024, 2023, and 2022 and changes during the years ended December 31, 2024, 2023, and 2022 are as follows:Year Ended December 31,202420232022Options OutstandingWeighted AverageExercise PriceOptions OutstandingWeighted AverageExercise PriceOptionsOutstandingWeightedAverageExercisePriceBalance at beginning of year115,980 $103.52 313,480 $97.59 394,089 $100.56 Granted217,917 68.07 — — — — Lapsed or canceled— — (197,500)84.14 (80,609)112.14 Balance at end of year333,897 $81.63 115,980 $103.52 313,480 $97.