Company: SLG-PI
Filing Date: 2025-08-08
Form Type: 10-Q
Source: 0001040971-25-000031
Chunk: 141

Company: SL GREEN REALTY CORP
Filing Date: 2025-08-08
Form: 10-Q
Item: Item 1
Chunk 141
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 corporate transactions or events, awards with respect to up to a maximum of 39,890,000 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 June 30, 2025, 9.7 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 six months ended June 30, 2025, 14,448 phantom stock units and 10,311 shares of common stock were issued to our Board of Directors. We recorded compensation expense of $0.2 million and $2.1 million during the three and six months ended June 30, 2025, respectively, related to the Deferred Compensation Plan. We recorded compensation expense of $0.2 million and $2.4 million during the three and six months ended June 30, 2024, respectively, related to the Deferred Compensation Plan.

As of June 30, 2025, there were 92,752 phantom stock units outstanding pursuant to our Non-Employee Director's Deferral Program.

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Indebtedness

The table below summarizes our consolidated mortgages and other loans payable, 2021 credit facility, 2022 term loan, senior unsecured notes and trust preferred securities outstanding as of June 30, 2025 and December 31, 2024, (amounts in thousands).

Debt Summary:June 30, 2025December 31, 2024BalanceFixed rate$1,112,474 $1,182,474Variable rate—hedged2,254,775 2,075,000Total fixed rate3,367,249 3,257,474 Total variable rate386,153 363,550Total debt$3,753,402 $3,621,024 Debt, preferred equity, and other investments subject to variable rate$130,958 $117,006 Net exposure to variable rate debt255,908 246,544 Percent of Total Debt:Fixed rate89.7 %90.0 %Variable rate (1)10.3 %10.0 %Total100.0 %100.0 %Effective Interest Rate for the Year:Fixed rate