Company: SLG-PI
Filing Date: 2025-04-17
Form Type: 10-K/A
Source: 0001040971-25-000019
Chunk: 85

Company: SL GREEN REALTY CORP
Filing Date: 2025-04-17
Form: 10-K/A
Chunk 85
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50.4million, and $ 43.5million, respectively.

<div align='center'>SL Green Realty Corp. and SL Green Operating Partnership, L.P.</div>

### Notes to Consolidated Financial Statements (cont.)

#### December 31, 2024
For the years ended December 31, 2024, 2023, and 2022, $ 1.7million, $ 1.4million, and $ 1.8million, respectively, was capitalized to assets associated with compensation expense related to our long-term compensation plans, restricted stock and stock options.

Deferred Compensation Plan for Directors

Under our Non-Employee Director's Deferral Program, which commenced July 2004, the Company's non-employee directors may elect to defer up to 100% of their annual retainer fee, chairman fees, meeting fees and annual stock grant. Unless otherwise elected by a participant, fees deferred under the program shall be credited in the form of phantom stock units. The program provides that a director's phantom stock units generally will be settled in an equal number of shares of common stock upon the earlier of (i) the January 1 coincident with or the next following such director's termination of service from the Board of Directors or (ii) a change in control by us, as defined by the program. Phantom stock units are credited to each non-employee director quarterly using the closing price of our common stock on the first business day of the respective quarter. Each participating non-employee director is also credited with dividend equivalents or phantom stock units based on the dividend rate for each quarter, which are either paid in cash currently or credited to the director's account as additional phantom stock units.

During the year ended December 31, 2024, 15,945phantom stock units and 25,590shares of common stock were issued to our Board of Directors. We recorded compensation expense of $ 2.8million during the year ended December 31, 2024 related to the Deferred Compensation Plan. As of December 31, 2024, there were 125,654phantom stock units outstanding pursuant to our Non-Employee Director's Deferral Program.

Employee Stock Purchase Plan

In 2007, the Company's Board of Directors adopted the 2008 Employee Stock Purchase Plan, or ESPP, to provide equity-based incentives to eligible employees. The ESPP is intended to qualify as an "employee stock purchase plan" under Section 423 of the Code, and has been adopted by