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Vornado Realty Trust Executive Compensation (FY25)

VNO · New York, NY · Executive and director compensation, fiscal 2022 to 2025
Data as of September 7, 2026Latest filing (8-K): May 22, 2026
257 figures on this page: 247 cited to the filing that reported them, 10 calculated from figures it prints. See the citations
The say-on-pay proposal drew 96.5% of votes cast for or against in favor at the meeting held May 21, 2026 for fiscal 2025. Separately, total compensation for Steven Roth, Chairman and Chief Executive Officer, came to $3,135,628 in fiscal 2025. Roth's total was 9.8% higher than the $2,856,837 reported for fiscal 2024, while for fiscal 2025, the company reported a chief executive pay ratio of 37.1:1, against median employee compensation of $84,442. Companies named in the disclosed peer group include Brixmor Property Group Inc., BXP, Inc., Douglas Emmett, Inc., Healthpeak Properties, Inc. and Host Hotels & Resorts, Inc., among others.
Chief executive, fiscal 2025
◇
Steven Roth
Latest say-on-pay support
=
May 21, 2026
Chief executive pay ratio
◇
To the median employee
What changed from fiscal 2024 to fiscal 2025
The figures that moved, and by how much. Analysis of these figures is part of the Velarion platform.
Chief executive total compensation — Steven Roth: $2,856,837 → $3,135,628 (9.8% higher)
Say-on-pay support: 91.4% → 96.5% (5.1 points higher)
CEO pay ratio: 35:1 → 37.1:1 (6.0% higher)

Frequently asked questions

Answers drawn from the data on this page.
Who is Vornado Realty Trust's chief executive and what were they paid?
Total compensation for Steven Roth, Chairman and Chief Executive Officer, came to $3,135,628 in fiscal 2025. Roth's total was 9.8% higher than the $2,856,837 reported for fiscal 2024.
What was Vornado Realty Trust's say-on-pay result?
The say-on-pay proposal drew 96.5% of votes cast for or against in favor at the meeting held May 21, 2026 for fiscal 2025.
Which companies are in Vornado Realty Trust's peer group?
Companies named in the disclosed peer group include Brixmor Property Group Inc., BXP, Inc., Douglas Emmett, Inc., Healthpeak Properties, Inc. and Host Hotels & Resorts, Inc., among others.
What is Vornado Realty Trust's chief executive pay ratio?
For fiscal 2025, the company reported a chief executive pay ratio of 37.1:1, against median employee compensation of $84,442.

Executive compensation

Every element reported for each named executive officer, by fiscal year.
Fiscal 2022
OfficerSalaryBonusStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
Steven Roth
Chairman and Chief Executive Officer (Principal Executive Officer)
◇—◇—◇—◇◇
Glen Weiss
Executive Vice President—Office Leasing, Co-Head of Real Estate
◇—◇—◇—◇◇
Michael Franco
President & Chief Financial Officer
◇—◇—◇—◇◇
Barry Langer
Executive Vice President— Development, Co-Head of Real Estate
◇—◇—◇—◇◇
Haim Chera
Executive Vice President and Head of Retail
◇—◇—◇—◇◇
Fiscal 2023
OfficerSalaryBonusStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
Steven Roth
Chairman and Chief Executive Officer (Principal Executive Officer)
◇—◇◇◇—◇◇
Michael Franco
President & Chief Financial Officer
◇—◇◇◇—◇◇
Glen Weiss
Executive Vice President—Office Leasing, Co-Head of Real Estate
◇—◇◇◇—◇◇
Barry Langer
Executive Vice President— Development, Co-Head of Real Estate
◇—◇◇◇—◇◇
Haim Chera
Executive Vice President and Head of Retail
◇—◇◇◇—◇◇
Fiscal 2024
OfficerSalaryBonusStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
Haim Chera
Executive Vice President and Head of Retail
◇———◇—◇◇
Steven Roth
Chairman and Chief Executive Officer (Principal Executive Officer)
◇———◇—◇◇
Glen Weiss
Executive Vice President—Office Leasing, Co-Head of Real Estate
◇———◇—◇◇
Michael Franco
President & Chief Financial Officer
◇———◇—◇◇
Barry Langer
Executive Vice President— Development, Co-Head of Real Estate
◇———◇—◇◇
Fiscal 2025
OfficerSalaryBonusStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
Steven Roth
Chairman and Chief Executive Officer
◇———◇—◇◇
Glen Weiss
Executive Vice President—Office Leasing, Co-Head of Real Estate
◇◇————◇◇
Michael Franco
President & Chief Financial Officer
◇◇————◇◇
Barry Langer
Executive Vice President—Development, Co-Head of Real Estate
◇◇————◇◇
Haim Chera
Executive Vice President—Head of Retail Leasing
◇◇————◇◇
A dash means the company reported no figure in that column. $0 is shown only where the filing prints a zero. A negative change in pension value is shown but, as the company reports it, not included in the total.

Equity awards granted

Individual awards as disclosed: type, date, unit counts at each level, and grant date value.
Fiscal 2025
OfficerAwardGrant dateThreshold unitsTarget unitsUnits grantedMaximum unitsExercise priceGrant date fair value
Barry S. LangerPSU—◇◇—◇—◇
Glen J. WeissPSU—◇◇—◇—◇
Haim CheraPSU—◇◇—◇—◇
Michael J. FrancoPSU—◇◇—◇—◇
Steven RothPSU—◇◇—◇—◇
Fiscal 2022, 2023, 2024 are included in the PDF.
A dash means the company reported no figure in that column. $0 is shown only where the filing prints a zero. Threshold, target and maximum apply only to performance awards and are never shown for time-based or option awards.

Outstanding awards

Awards still held at fiscal year end.
As disclosed at fiscal 2025 year end
OfficerAwardUnvested unitsMarket value of unvested unitsExercise priceExpires
Steven RothOption◇—◇—
RSU◇◇——
RSU◇◇——
PSU◇◇——
PSU◇◇——
RSU◇◇——
PSU◇◇——
Barry LangerOption◇—◇—
PSU◇◇——
RSU◇◇——
PSU◇◇——
RSU◇◇——
RSU◇◇——
PSU◇◇——
Glen WeissPSU◇◇——
RSU◇◇——
PSU◇◇——
Option◇—◇—
RSU◇◇——
RSU◇◇——
PSU◇◇——
Haim CheraRSU◇◇——
PSU◇◇——
PSU◇◇——
PSU◇◇——
RSU◇◇——
Option◇—◇—
RSU◇◇——
Michael FrancoRSU◇◇——
PSU◇◇——
RSU◇◇——
PSU◇◇——
Option◇—◇—
RSU◇◇——
PSU◇◇——
A dash means the company reported no figure in that column. $0 is shown only where the filing prints a zero.

Severance and change in control

The terms as written in the agreements.
Steven Roth
Chairman and Chief Executive Officer · Terms as described in the company’s compensation discussion · citing a 2025 filing
Severance cash amount◇

Director compensation

What each non-employee director was paid.
Fiscal 2025
DirectorFees earned in cashStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
Michael D. Fascitelli
◇◇———◇◇
Candace K. Beinecke
◇◇————◇
Daniel R. Tisch
◇◇————◇
Mandakini Puri
◇◇————◇
Beatrice Hamza Bassey
◇◇————◇
William W. Helman IV
◇◇————◇
Raymond J. McGuire
◇◇————◇
David M. Mandelbaum
◇◇————◇
Russell B. Wight, Jr
◇◇————◇
Steven Roth served on the board in fiscal 2025 and received no compensation for board service. Executive directors are typically paid through their executive roles, shown above.
Earlier years are included in the PDF.
A dash means the company reported no figure in that column. $0 is shown only where the filing prints a zero.

Disclosed peer group

The companies this board named as its compensation comparison group. The list is disclosure; the comparison is analysis.
Fiscal 2025
  • Brixmor Property Group Inc. BRX
  • BXP, Inc. BXP
  • Douglas Emmett, Inc. DEI
  • Healthpeak Properties, Inc. DOC
  • Host Hotels & Resorts, Inc. HST
  • Hudson Pacific Properties, Inc. HPP
  • JBG SMITH Properties JBGS
  • Kennedy-Wilson Holdings, Inc. KW
  • Kilroy Realty Corporation KRC
  • Kimco Realty Corporation KIM
  • Omega Healthcare Investors, Inc. OHI
  • SL Green Realty Corp. SLG
  • W.P. Carey Inc. WPC

Say-on-pay history

Shareholder support for the compensation program, by year.
YearMeetingSupportVotes forVotes againstAbstentions
2025May 21, 2026=◇◇◇
2024May 22, 2025=◇◇◇
2023May 23, 2024=◇◇◇
2022May 18, 2023=◇◇◇
2021May 19, 2022=◇◇◇
2020May 20, 2021=◇◇◇
2019May 14, 2020=◇◇◇
2017May 17, 2018=◇◇◇
2016May 18, 2017=◇◇◇
2015May 19, 2016=◇◇◇

Chief executive pay ratio

As calculated and reported by the company.
Ratio
◇
Median employee compensation
◇
Chief executive total compensation
◇
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What this page does not include

Everything above is a fact Vornado Realty Trust disclosed, and it is free. Everything below is our analysis of those facts, and it is not.
Peer benchmarking
Where Vornado Realty Trust sits against its disclosed peers — percentile position by role and by pay element, and the ranking behind it. The disclosed peer group is free; comparisons across it are part of the Velarion platform.
Executive Compensation Report — $1,500
Written compensation analysis
A read of the pay program as designed and as paid: incentive structure, goal rigor, the alignment between the committee's stated philosophy and what the numbers show.
Executive Compensation Report — $1,500
Board and governance analysis
Committee composition, independence, director pay positioning, and the governance provisions read together rather than listed.
Board Governance Report — $1,200
Realizable pay
What the awards above are actually worth today against what they were valued at on grant, and what the gap says about the pay-for-performance link.
Velarion Intelligence
Adviser switching and vote outcomes
Two datasets covering compensation-adviser changes and what followed a contested vote. Both are part of the Velarion platform.
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Citations

Every figure on this page is cited to the document that reported it. Select any figure to see its citation.
257 figures on this page: 247 cited to the filing that reported them, 10 calculated from figures it prints.
247 cited to the filing
10 calculated from the filing

Documents cited

  1. 0000899689-26-000039
    Item 5.07 Submission of Matters to a Vote of Security Holders
  2. 0001104659-26-040386
    2025 Summary Compensation Table · EXECUTIVE COMPENSATION & · Grants of Plan-Based Awards in 2025 · Outstanding Equity Awards at December 31, 2025 · and 1 more section
  3. 0000899689-25-000024
    Item 5.07 Submission of Matters to a Vote of Security Holders
  4. 0001104659-25-033031
    Compensation Discussion and Analysis · Summary Compensation Table
  5. 0000899689-24-000028
    Item 5.07 Submission of Matters to a Vote of Security Holders
  6. 0001104659-24-045234
    Summary Compensation Table
  7. 0000899689-23-000032
    Item 5.07 Submission of Matters to a Vote of Security Holders
  8. 0001104659-23-043150
    Summary Compensation Table
  9. 0000899689-22-000029
    Item 5.07 Submission of Matters to a Vote of Security Holders
  10. 0000899689-21-000035
    Item 5.07 Submission of Matters to a Vote of Security Holders
  11. 0000899689-20-000030
  12. 0000899689-18-000037
    Item 5.07 Submission of Matters to a Vote of Security Holders
  13. 0000899689-17-000024
    Item 5.07 Submission of Matters to a Vote of Security Holders
  14. 0000899689-16-000061
    Item 5.07 Submission of Matters to a Vote of Security Holders
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Velarion, “Vornado Realty Trust executive compensation, FY2022–FY2025.” https://intel.velarion.ai/comp/VNO (accessed 2026).
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Real Estate rankings

Chief executive pay — Real EstateCEO pay ratio — Real EstateSay-on-pay support — Real Estate

Peers Vornado Realty Trust discloses

The companies named in VNO's own disclosed peer group.

Brixmor Property Group Inc.BXP, Inc.Douglas Emmett, Inc.Healthpeak Properties, Inc.Host Hotels & Resorts, Inc.Hudson Pacific Properties, Inc.JBG SMITH PropertiesKennedy-Wilson Holdings, Inc.Kilroy Realty CorporationKimco Realty CorporationOmega Healthcare Investors, Inc.SL Green Realty Corp.W.P. Carey Inc.

Terms on this page

Say-on-Pay VoteCEO Pay RatioMedian Employee CompensationAll companies
Cite this data
APA
Velarion Company Intelligence. (2026). Velarion database: executive and board compensation data (Version 2026Q3) [Data set]. Zenodo. https://doi.org/10.5281/zenodo.22283854
BibTeX
@misc{velarionData2026,
  author = {{Velarion Company Intelligence}},
  title = {Velarion database: executive and board compensation data},
  year = {2026},
  version = {2026Q3},
  doi = {10.5281/zenodo.22283854},
  publisher = {Zenodo},
  url = {https://doi.org/10.5281/zenodo.22283854}
}
For informational purposes only. Not investment, legal, or compensation advice.  The Pay Desk · Methodology · Terms · Privacy