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Vornado Realty Trust – ‘10-K’ for 12/31/09 – ‘XML.R26’

On:  Tuesday, 2/23/10, at 8:44am ET   ·   For:  12/31/09   ·   Accession #:  899689-10-4   ·   File #:  1-11954

Previous ‘10-K’:  ‘10-K/A’ on 3/2/09 for 12/31/08   ·   Next:  ‘10-K/A’ on 3/3/10 for 12/31/09   ·   Latest:  ‘10-K’ on 2/12/24 for 12/31/23

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  As Of               Filer                 Filing    For·On·As Docs:Size

 2/23/10  Vornado Realty Trust              10-K       12/31/09   49:29M

Annual Report   —   Form 10-K   —   Sect. 13 / 15(d) – SEA’34
Filing Table of Contents

Document/Exhibit                   Description                      Pages   Size 

 1: 10-K        Annual Report                                       HTML   7.62M 
 3: EX-21       Subsidiaries List                                   HTML    504K 
 4: EX-23       Consent of Experts or Counsel                       HTML     22K 
 2: EX-12       Statement re: Computation of Ratios                 HTML     57K 
 5: EX-31       Certification -- §302 - SOA'02                      HTML     21K 
 6: EX-31       Certification -- §302 - SOA'02                      HTML     21K 
 7: EX-32       Certification -- §906 - SOA'02                      HTML     18K 
 8: EX-32       Certification -- §906 - SOA'02                      HTML     18K 
39: XML         IDEA XML File -- Definitions and References          XML    143K 
45: XML         IDEA XML File -- Filing Summary                      XML     73K 
43: XML.R1      Consolidated Balance Sheets                          XML    385K 
44: XML.R2      Consolidated Balance Sheets [Parentheticals]         XML    168K 
26: XML.R3      Consolidated Statements of Income                    XML    331K 
31: XML.R4      Consolidated Statements of Income [Parentheticals]   XML     48K 
37: XML.R5      Consolidated Statements of Changes in Equity         XML    673K 
36: XML.R6      Consolidated Statements of Cash Flows                XML    688K 
48: XML.R7      Consolidated Statements of Cash Flows                XML     48K 
                [Parentheticals]                                                 
20: XML.R8      Organization and Business                            XML     40K 
35: XML.R9      Basis of Presentation and Significant Accounting     XML    200K 
                Policies                                                         
18: XML.R10     Investments in Partially Owned Entities              XML    481K 
17: XML.R11     Marketable Securities                                XML     64K 
25: XML.R12     Mezzanine Loans Receivable                           XML     95K 
41: XML.R13     Identified Intangible Assets                         XML    110K 
27: XML.R14     Debt                                                 XML    651K 
28: XML.R15     Redeemable Noncontrolling Interests                  XML    114K 
33: XML.R16     Shareholders' Equity                                 XML     61K 
49: XML.R17     Fair Value Measurements                              XML    136K 
23: XML.R18     Discontinued Operations                              XML     72K 
15: XML.R19     Stock-based Compensation                             XML    121K 
30: XML.R20     Fee and Other Income                                 XML     52K 
40: XML.R21     Interest and Other Investment (Loss) Income, net     XML     66K 
21: XML.R22     Income Per Share                                     XML    113K 
38: XML.R23     Comprehensive Income                                 XML     50K 
29: XML.R24     Leases                                               XML     92K 
47: XML.R25     Commitments and Contingencies                        XML     46K 
42: XML.R26     Related Party Transactions                           XML     36K 
32: XML.R27     Retirement Plans                                     XML     33K 
34: XML.R28     Summary of Quarterly Results (Unaudited)             XML     83K 
16: XML.R29     Segment Information                                  XML    970K 
19: XML.R30     Schedule II - Valuation and Qualifying Accounts      XML     75K 
22: XML.R31     Schedule III - Real Estate and Accumulated           XML   3.22M 
                Depreciation                                                     
24: XML.R32     Document and Entity Information                      XML    107K 
46: EXCEL       IDEA Workbook of Financial Reports (.xls)            XLS    183K 
 9: EX-101.INS  XBRL Instance -- vno-20091231                        XML   6.59M 
11: EX-101.CAL  XBRL Calculations -- vno-20091231_cal                XML    166K 
12: EX-101.DEF  XBRL Definitions -- vno-20091231_def                 XML    633K 
13: EX-101.LAB  XBRL Labels -- vno-20091231_lab                      XML    597K 
14: EX-101.PRE  XBRL Presentations -- vno-20091231_pre               XML    396K 
10: EX-101.SCH  XBRL Schema -- vno-20091231                          XSD    104K 


‘XML.R26’   —   Related Party Transactions


This Financial Report is an XBRL XML File.


                                                                                                                                                                                
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<div> <div><!-- 2.0.3657.28464 --><div><!-- body --><div style="font-family: 'Times New Roman', serif;"> <p style="margin: 0in 0in 12pt;" class="BLDHEADII"><strong><font class="_mt" size="2">19.<font style="mso-tab-count: 1;" class="_mt">  Related Party Transactions</font></font></strong></p> <h3 style="text-indent: -20.25pt; margin: 0in 0in 0pt 22.5pt;"><em><font class="_mt" size="2">Transactions with Affiliates and Officers and Trustees</font></em></h3> <p style="margin: 0in 0in 0pt;" class="Bodytext"><font class="_mt" size="2">  </font></p> <p style="margin: 0in 0in 0pt;" class="Heading3ind2"><em><font class="_mt" size="2">Alexander’s</font></em></p> <p style="margin: 0in 0in 0pt;" class="Bodytext"><font class="_mt" size="2">  </font></p> <p style="margin: 0in 0in 0pt;" class="Bodytext"><font class="_mt" size="2">We own 32.4% of Alexander’s. Steven Roth, the Chairman of our Board, and Michael D. Fascitelli, our President and Chief Executive Officer, are officers and directors of Alexander’s. <font style="mso-spacerun: yes;" class="_mt"> We provide various services to Alexander’s in accordance with management, development and leasing agreements. <font style="mso-spacerun: yes;" class="_mt"> These agreements are described in Note 3 - Investments in Partially Owned Entities.</font></font></font></p> <p style="margin: 0in 0in 0pt;" class="Bodytext"><font class="_mt" size="2">  </font></p> <p style="margin: 0in 0in 0pt;" class="Bodytext"><font class="_mt" size="2">On March 2, 2009, Mr. Roth and Mr. Fascitelli each exercised 150,000 stock appreciation rights (“SARs”) which were scheduled to expire on March 4, 2009 and each received gross proceeds of $11,419,000.</font></p> <p style="margin: 0in 0in 0pt;" class="Bodytext"><font class="_mt" size="2">  </font></p> <p style="margin: 0in 0in 0pt;" class="Bodytext"><font class="_mt" size="2">On September 9, 2008, Alexander’s Board of Directors declared a special dividend of $7.00 per share, payable on October 30, 2008, to shareholders of record on October 14, 2008.<font style="mso-spacerun: yes;" class="_mt">  The dividend was attributable to the liquidation of the wholly owned 731 Lexington Avenue taxable REIT subsidiary into Alexander’s.<font style="mso-spacerun: yes;" class="_mt">  Accordingly, on October 30, we received $11,578,000, which was accounted for as a reduction of our investment in Alexander’s.</font></font></font></p> <p style="margin: 0in 0in 0pt;" class="Bodytext"><font class="_mt" size="2">  </font></p> <p style="margin: 0in 0in 0pt;" class="BodyTextFirstLine6"><font class="_mt" size="2">On September 15, 2008 and October 14, 2008, Mr. Roth exercised an aggregate of 200,000 SARs which were scheduled to expire on March 4, 2009 and received gross proceeds of $62,809,000.<font style="mso-spacerun: yes;" class="_mt">  </font></font></p> <p style="margin: 0in 0in 0pt;" class="BodyTextFirstLine6"><font class="_mt" size="2">  </font></p> <p style="margin: 0in 0in 0pt;" class="Bodytext"><font class="_mt" size="2">  </font></p> <p style="margin: 0in 0in 0pt;" class="Heading3ind2"><em><font class="_mt" size="2">Interstate Properties (“Interstate”)</font></em></p> <p style="margin: 0in 0in 0pt;" class="Bodytext"><font class="_mt" size="2">  </font></p> <p style="margin: 0in 0in 0pt;" class="Bodytext"><font class="_mt" size="2">Interstate is a general partnership in which Mr. Roth is the managing general partner. David Mandelbaum and Russell B. Wight, Jr., Trustees of Vornado and Directors of Alexander’s, are Interstate’s two other partners. As of December 31, 2009, Interstate and its partners beneficially owned approximately 7.3% of the common shares of beneficial interest of Vornado and 27.2% of Alexander’s common stock.</font></p> <p style="margin: 0in 0in 0pt;" class="Bodytext"><font class="_mt" size="2">  </font></p> <p style="margin: 0in 0in 0pt;" class="Bodytext"><font class="_mt" size="2">We manage and lease the real estate assets of Interstate pursuant to a management agreement for which we receive an annual fee equal to 4% of annual base rent and percentage rent. The management agreement has a term of one year and is automatically renewable unless terminated by either of the parties on sixty days’ notice at the end of the term. We believe, based upon comparable fees charged by other real estate companies, that the management agreement terms are fair to us. We earned $782,000, $803,000 and $800,000 of management fees under the agreement for the years ended December 31, 2009, 2008 and 2007.</font></p> </div><!-- body --></div></div> </div>
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