Company: SLG-PI
Filing Date: 2025-05-01
Form Type: 10-Q
Source: 0001040971-25-000022
Chunk: 13

Company: SL GREEN REALTY CORP
Filing Date: 2025-05-01
Form: 10-Q
Item: Item 2
Chunk 13
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, 2025, 36,107,719 shares have been repurchased under the program, excluding the redemption of OP units. We did not repurchase any shares under the program during the three months ended March 31, 2025.

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Dividend Reinvestment and Stock Purchase Plan ("DRSPP")

In February 2024, the Company filed a new registration statement with the SEC for our dividend reinvestment and stock purchase plan, or DRSPP, which automatically became effective upon filing. The Company registered 3,500,000 shares of our common stock under the DRSPP. The DRSPP commenced on September 24, 2001.

The following table summarizes SL Green common stock issued, and proceeds received from dividend reinvestments and/or stock purchases under the DRSPP for the three months ended March 31, 2025 and 2024, respectively (dollars in thousands):

Three Months Ended March 31,20252024Shares of common stock issued1,221 1,662 Dividend reinvestments/stock purchases under the DRSPP$75 $77 

Fifth Amended and Restated 2005 Stock Option and Incentive Plan

The Fifth Amended and Restated 2005 Stock Option and Incentive Plan, or the 2005 Plan, was approved by the Company's Board of Directors in April 2022 and its stockholders in June 2022 at the Company's annual meeting of stockholders. Subject to adjustments upon certain corporate transactions or events, awards with respect to up to a maximum of 32,210,000 fungible units may be granted as options, restricted stock, phantom shares, dividend equivalent rights and other equity-based awards under the 2005 Plan. As of March 31, 2025, 1.5 million fungible units were available for issuance under the 2005 Plan after reserving for shares underlying outstanding restricted stock units, and phantom stock units granted pursuant to our Non-Employee Directors' Deferral Program and LTIP Units.

Deferred Compensation Plan for Directors

During the three months ended March 31, 2025, 14,393 phantom stock units and 10,311 shares of common stock were issued to our Board of Directors. We recorded compensation expense of $1.9 million and $2.1 million during the three months ended March 31, 2025, and 2024 respectively, related to the Deferred Compensation Plan.

As of March