Edgar Filing: VORNADO REALTY TRUST

Ownership Submission

FORM 4

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940

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(Print or Type Responses)

1. Name and Address of Reporting Person ^*

GREENBAUM DAVID R

2. Issuer Name and Ticker or Trading Symbol
VORNADO REALTY TRUST [VNO]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

_____ Director	_____ 10% Owner
__X__ Officer (give title below)	_____ Other (specify below)
President - NY Office Division

(Last)

(First)

(Middle)

888 SEVENTH AVENUE

3. Date of Earliest Transaction (Month/Day/Year)
01/08/2008

(Street)

NEW YORK, NY 10019

4. If Amendment, Date Original Filed(Month/Day/Year)

6. Individual or Joint/Group Filing(Check Applicable Line)
_X_ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person

(City)

(State)

(Zip)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned

1.Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
1.Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Common Shares	01/08/2008		M		153,068	A	$ 44.4037	160,022 ⁽¹⁾	D
Common Shares	01/08/2008		F		32,436	D	$ 79.26	127,586 ⁽¹⁾	D
Common Shares	01/08/2008		S		146	D	$ 79.1	127,440 ⁽¹⁾	D
Common Shares	01/08/2008		S		300	D	$ 79.13	127,140 ⁽¹⁾	D
Common Shares	01/08/2008		S		54	D	$ 79.15	127,086 ⁽¹⁾	D
Common Shares	01/08/2008		S		500	D	$ 79.16	126,586 ⁽¹⁾	D
Common Shares	01/08/2008		S		400	D	$ 79.17	126,186 ⁽¹⁾	D
Common Shares	01/08/2008		S		97	D	$ 79.19	126,089 ⁽¹⁾	D
Common Shares	01/08/2008		S		300	D	$ 79.21	125,789 ⁽¹⁾	D
Common Shares	01/08/2008		S		500	D	$ 79.22	125,289 ⁽¹⁾	D
Common Shares	01/08/2008		S		300	D	$ 79.23	124,989 ⁽¹⁾	D
Common Shares	01/08/2008		S		400	D	$ 79.25	124,589 ⁽¹⁾	D
Common Shares	01/08/2008		S		500	D	$ 79.26	124,089 ⁽¹⁾	D
Common Shares	01/08/2008		S		200	D	$ 79.27	123,889 ⁽¹⁾	D
Common Shares	01/08/2008		S		3	D	$ 79.29	123,886 ⁽¹⁾	D
Common Shares	01/08/2008		S		200	D	$ 79.32	123,686 ⁽¹⁾	D
Common Shares	01/08/2008		S		100	D	$ 79.34	123,586 ⁽¹⁾	D
Common Shares	01/08/2008		S		200	D	$ 79.36	123,386 ⁽¹⁾	D
Common Shares	01/08/2008		S		112	D	$ 79.38	123,274 ⁽¹⁾	D
Common Shares	01/08/2008		S		98	D	$ 79.4	123,176 ⁽¹⁾	D
Common Shares	01/08/2008		S		300	D	$ 79.44	122,876 ⁽¹⁾	D
Common Shares	01/08/2008		S		91	D	$ 79.46	122,785 ⁽¹⁾	D
Common Shares	01/08/2008		S		600	D	$ 79.4625	122,185 ⁽¹⁾	D
Common Shares	01/08/2008		S		16	D	$ 79.47	122,169 ⁽¹⁾	D
Common Shares	01/08/2008		S		184	D	$ 79.48	121,985 ⁽¹⁾	D
Common Shares	01/08/2008		S		900	D	$ 79.49	121,085 ⁽¹⁾	D
Common Shares	01/08/2008		S		100	D	$ 79.4925	120,985 ⁽¹⁾	D
Common Shares	01/08/2008		S		834	D	$ 79.5	120,151 ⁽¹⁾	D
Common Shares	01/08/2008		S		177	D	$ 79.51	119,974 ⁽¹⁾	D

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)

1. Title of Derivative Security
(Instr. 3)

2. Conversion or Exercise Price of Derivative Security

3. Transaction Date (Month/Day/Year)

3A. Deemed Execution Date, if any (Month/Day/Year)

4. Transaction Code
(Instr. 8)

5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4, and 5)

6. Date Exercisable and Expiration Date
(Month/Day/Year)

7. Title and Amount of Underlying Securities
(Instr. 3 and 4)

8. Price of Derivative Security
(Instr. 5)

9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 4)

10. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 4)

11. Nature of Indirect Beneficial Ownership
(Instr. 4)

Code

(A)

(D)

Date Exercisable

Expiration Date

Title

Amount or Number of Shares

Options (Right to Buy)

$ 44.4037

01/08/2008

153,068

01/12/1999

01/12/2008

Common Shares

153,068

$ 0

Reporting Owners

Reporting Owner Name / Address	Relationships
Reporting Owner Name / Address	Director	10% Owner	Officer	Other
GREENBAUM DAVID R 888 SEVENTH AVENUE NEW YORK, NY 10019			President - NY Office Division

Signatures

/s/ David R. Greenbaum		01/09/2008
^**Signature of Reporting Person		Date

Explanation of Responses:

*	If the form is filed by more than one reporting person, see Instruction 4(b)(v).
**	Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1)	Since 1/28/03, Mr. Greenbaum has been granted a total of 15,000 Common Shares as "restricted stock" (the "Shares") under the terms of the Vornado Realty Trust (the "Company") 2002 Omnibus Share Plan (the "Plan") as follows: (i) 7,500 Shares were granted on 1/28/03, with the shares vesting in equal portions over a 5-year period with the remaining portion vesting in January of 2008, (ii) 5,000 Shares were granted on 2/6/04, with the shares vesting in equal portions over a 5-year period with the remaining two portions vesting in January 2008 and 2009 and (iii) 2,500 Shares were granted on 2/8/05, with the shares vesting in equal portions over a 5-year period with the remaining three portions vesting in January of 2008, 2009 and 2010. Mr. Greenbaum continues to beneficially own 6,954 of these Shares in the aggregate.
Remarks: Due to system limitations for reporting transactions via EDGAR on Form 4, this Form 4 is one of eight Form 4s filed for the reporting person for transactions with a trade date of January 8, 2008.

Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.

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