Company: SLG-PI
Filing Date: 2025-11-03
Form Type: 10-Q
Source: 0001628280-25-047886
Chunk: 94

Company: SL GREEN REALTY CORP
Filing Date: 2025-11-03
Form: 10-Q
Item: Item 1
Chunk 94
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5.00 %40,000 40,000 40,000 1.2500 25.00 — May 2019Series W (6)(6)1 1 1 (6)(6)(6)January 2020(1)Dividends are cumulative, subject to certain provisions.(2)Units are redeemable at any time at par for cash at the option of the unit holder unless otherwise specified.(3)If applicable, units are convertible into a number of common units of limited partnership interest in the Operating Partnership equal to (i) the liquidation preference plus accumulated and unpaid distributions on the conversion date divided by (ii) the amount shown in the table.(4)Issued through a consolidated subsidiary. The units are redeemable at any time after December 13, 2024 at par for cash at the option of the unit holder.(5)The Series V Preferred Units are redeemable at any time after January 1, 2025 at par for cash at the option of the unit holder.(6)The Series W preferred unit was issued in January 2020 in exchange for the then-outstanding Series O preferred unit. The holder of the Series W preferred unit is entitled to quarterly dividends in an amount calculated as (i) 1,350 multiplied by (ii) the current distribution per common unit of limited partnership in SL Green Operating Partnership. The holder has the right to require the Operating Partnership to repurchase the Series W unit for cash, or convert the Series W unit for Class B units, in each case at a price that is determined based on the closing price of the Company's common stock at the time such right is exercised. The unit's liquidation preference is the fair market value of the unit plus accrued distributions at the time of a liquidation event.Below is a summary of the activity relating to the preferred units in the Operating Partnership for the nine months ended September 30, 2025 and the twelve months ended December 31, 2024 (in thousands):September 30, 2025December 31, 2024Balance at beginning of period$164,210 $166,501 Issuance of preferred units— — Redemption of preferred units— (2,503)Dividends paid on preferred units(4,299)(4,453)Accrued dividends on preferred units4,308 4,665 Balance at end of period$164,219 $164,210