Company: SLG-PI
Filing Date: 2025-05-23
Form Type: DEFA14A
Source: 0001104659-25-052509
Chunk: 2

Company: SL GREEN REALTY CORP
Filing Date: 2025-05-23
Form: DEFA14A
Chunk 2
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 in the ISS report issued on
May 21, 2025, that the Committee has not been sufficiently responsive to the 2024 say on pay vote.

The reality is that responsiveness to stockholders is not simply a
one-year event. The Committee has systematically and successively updated our executive compensation structure to ensure incentives align
with Company performance, and that payouts align with stockholder value creation.

|                                                                        |     | Stockholder Outreach following Annual Meeting |   |     |      |   |     |      |   |     |      |   |     |      |   |
|                                                                        |     |                                          2024 |   |     | 2023 |   |     | 2022 |   |     | 2021 |   |     | 2020 |   |
| Offered Engagement to stockholders representing approximately          |     |                                            68 | % |     |   75 | % |     |   66 | % |     |   65 | % |     |   65 | % |
| Had one-on-one discussions with stockholders representing approx.      |     |                                            44 | % |     |   69 | % |     |   30 | % |     |   50 | % |     |   41 | % |
| Directors participated in calls with stockholders representing approx. |     |                                            39 | % |     |   38 | % |     |   29 | % |     |   36 | % |     |   41 | % |

Stockholder Feedback Received in 2024-2025

In each year since 2023, stockholders have expressed a strong preference
for – and the Committee has committed to – the elimination of short-term performance periods in long-term equity incentives.
In the new employment agreement, the Committee has designed long-term performance equity awards that only vest based upon performance
against preset three-year goals.

As in prior years, stockholders expressed strong support for the significant
changes made to the executive compensation program over recent years and appreciated our strong commitment to stockholder engagement.
The majority of the post-2024 annual meeting feedback was again focused on the elimination of short-term performance periods in long-term performance incentives. Stockholders who raised this issue reiterated that they expected the Committee to implement this update when
the CEO’s employment agreement expired in January 2025. Stockholders did not express concerns with the severance provisions
included in our executives’ employment agreements.

Actions Taken