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 ^*

KENNEDY CHRISTOPHER

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 - Merchandise Mart

(Last)

(First)

(Middle)

222 MERCHANDISE MART PLAZA, SUITE 470

3. Date of Earliest Transaction (Month/Day/Year)
11/14/2007

(Street)

CHICAGO, IL 60654

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	11/14/2007		M		30,614	A	$ 47.4353	40,229 ⁽¹⁾	D
Common Shares	11/14/2007		S		100	D	$ 102.07	40,129 ⁽¹⁾	D
Common Shares	11/14/2007		S		100	D	$ 102.06	40,029 ⁽¹⁾	D
Common Shares	11/14/2007		S		100	D	$ 101.89	39,929 ⁽¹⁾	D
Common Shares	11/14/2007		S		400	D	$ 101.87	39,529 ⁽¹⁾	D
Common Shares	11/14/2007		S		200	D	$ 101.85	39,329 ⁽¹⁾	D
Common Shares	11/14/2007		S		100	D	$ 101.81	39,229 ⁽¹⁾	D
Common Shares	11/14/2007		S		100	D	$ 101.72	39,129 ⁽¹⁾	D
Common Shares	11/14/2007		S		100	D	$ 101.65	39,029 ⁽¹⁾	D
Common Shares	11/14/2007		S		100	D	$ 101.63	38,929 ⁽¹⁾	D
Common Shares	11/14/2007		S		100	D	$ 101.62	38,829 ⁽¹⁾	D
Common Shares	11/14/2007		S		714	D	$ 101.61	38,115 ⁽¹⁾	D
Common Shares	11/14/2007		S		100	D	$ 101.57	38,015 ⁽¹⁾	D
Common Shares	11/14/2007		S		200	D	$ 101.54	37,815 ⁽¹⁾	D
Common Shares	11/14/2007		S		100	D	$ 101.53	37,715 ⁽¹⁾	D
Common Shares	11/14/2007		S		100	D	$ 101.52	37,615 ⁽¹⁾	D
Common Shares	11/14/2007		S		100	D	$ 101.5	37,515 ⁽¹⁾	D
Common Shares	11/14/2007		S		200	D	$ 101.2	37,315 ⁽¹⁾	D
Common Shares	11/14/2007		S		100	D	$ 100.75	37,215 ⁽¹⁾	D
Common Shares	11/14/2007		S		300	D	$ 100.66	36,915 ⁽¹⁾	D
Common Shares	11/14/2007		S		200	D	$ 100.65	36,715 ⁽¹⁾	D
Common Shares	11/14/2007		S		100	D	$ 100.64	36,615 ⁽¹⁾	D
Common Shares	11/14/2007		S		100	D	$ 100.63	36,515 ⁽¹⁾	D
Common Shares	11/14/2007		S		200	D	$ 100.6	36,315 ⁽¹⁾	D
Common Shares	11/14/2007		S		300	D	$ 100.59	36,015 ⁽¹⁾	D
Common Shares	11/14/2007		S		100	D	$ 100.55	35,915 ⁽¹⁾	D
Common Shares	11/14/2007		S		100	D	$ 100.46	35,815 ⁽¹⁾	D
Common Shares	11/14/2007		S		100	D	$ 100.44	35,715 ⁽¹⁾	D
Common Shares	11/14/2007		S		100	D	$ 100.42	35,615 ⁽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)

$ 47.4353

11/14/2007

30,614

01/20/1999

01/20/2008

Common Shares

30,614

$ 0

61,228

Reporting Owners

Reporting Owner Name / Address	Relationships
Reporting Owner Name / Address	Director	10% Owner	Officer	Other
KENNEDY CHRISTOPHER 222 MERCHANDISE MART PLAZA SUITE 470 CHICAGO, IL 60654			President - Merchandise Mart

Signatures

/s/ Christopher G. Kennedy		11/16/2007
^**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)	3,154 of these Common Shares were issued as restricted stock and remain unvested under the terms of the Vornado Realty Trust 2002 Omnibus Share plan (the "Plan"), with each original grant vesting in equal portions over a five year period. Of these 3,154 Common Shares, (i) 1,000 Common Shares of restricted stock remain to vest in January of 2008, (ii) 1,230 Common Shares of restricted stock remain to vest ratably in January of 2008 and 2009 and (iii) 924 Common Shares of restricted stock remain to vest ratably in January 2008, 2009 and 2010.
Remarks: The sales reported in this Form 4 were effected pursuant to a Rule 10b5-1 plan adopted by the reporting person on October 8, 2007.Due to system limitations for reporting transactions via EDGAR on Form 4, this Form 4 is one of six Form 4s filed for the reporting person for transactions with a trade date of November 14, 2007

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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