Company: SLG-PI
Filing Date: 2025-08-08
Form Type: 10-Q
Source: 0001040971-25-000031
Chunk: 95

Company: SL GREEN REALTY CORP
Filing Date: 2025-08-08
Form: 10-Q
Item: Item 1
Chunk 95
---
 for cash at the option of the unit holder.(5)The Series V Preferred Units are redeemable at any time after January 1, 2025 at par for cash at the option of the unit holder.(6)The Series W preferred unit was issued in January 2020 in exchange for the then-outstanding Series O preferred unit. The holder of the Series W preferred unit is entitled to quarterly dividends in an amount calculated as (i) 1,350 multiplied by (ii) the current distribution per common unit of limited partnership in SL Green Operating Partnership. The holder has the right to require the Operating Partnership to repurchase the Series W unit for cash, or convert the Series W unit for Class B units, in each case at a price that is determined based on the closing price of the Company's common stock at the time such right is exercised. The unit's liquidation preference is the fair market value of the unit plus accrued distributions at the time of a liquidation event.Below is a summary of the activity relating to the preferred units in the Operating Partnership for the six months ended June 30, 2025 and the twelve months ended December 31, 2024 (in thousands):June 30, 2025December 31, 2024Balance at beginning of period$164,210 $166,501 Issuance of preferred units— — Redemption of preferred units— (2,503)Dividends paid on preferred units(3,787)(4,453)Accrued dividends on preferred units3,793 4,665 Balance at end of period$164,216 $164,210 

12. Stockholders' Equity of the Company

Common Stock Our authorized capital stock consists of 260,000,000 shares, $0.01 par value per share, consisting of 160,000,000 shares of common stock, $0.01 par value per share, 75,000,000 shares of excess stock, at $0.01 par value per share, and 25,000,000 shares of preferred stock, par value $0.01 per share. As of June 30, 2025, 71,024,627 shares of common stock and no shares of excess stock were issued and outstanding.

46

Table of ContentsSL Green Realty Corp. and SL Green Operating Partnership, L.P.Notes to Consolidated Financial Statements (cont.)June 30, 2025(unaudited)

Share Rep