Company: SLG-PI
Filing Date: 2025-05-01
Form Type: 10-Q
Source: 0001040971-25-000022
Chunk: 85

Company: SL GREEN REALTY CORP
Filing Date: 2025-05-01
Form: 10-Q
Item: Item 1
Chunk 85
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 number of common units of the Operating Partnership per Class O LTIP Unit determined by the increase in value of a share of the Company's common stock at the time of conversion over a participation threshold, which equals the fair market value of a share of the Company's common stock at the time of grant. Class O LTIP Units are entitled to distributions, subject to vesting, equal per unit to 10% of the per unit distributions paid with respect to 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 three months ended March 31, 2025 and the year ended December 31, 2024.March 31, 2025December 31, 2024Dividend yieldnone5.5 %Expected lifezero7.5 yearsRisk-free interest ratenone4.45 %Expected stock price volatilitynone45.0 %

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Table of ContentsSL Green Realty Corp. and SL Green Operating Partnership, L.P.Notes to Consolidated Financial Statements (cont.)March 31, 2025(unaudited)

A summary of the status of the Company's stock options as of March 31, 2025 and December 31, 2024, and changes during the three months ended March 31, 2025 and year ended December 31, 2024 are as follows:March 31, 2025December 31, 2024Options OutstandingWeighted AverageExercise PriceOptions OutstandingWeighted AverageExercise PriceBalance at beginning of period333,897 $81.63 115,980 $103.52 Granted— —