Chiu Christina 4
4 · Empire State Realty Trust, Inc. · Filed Mar 17, 2026
Research Summary
AI-generated summary of this filing
Empire State Realty President Christina Chiu Receives Award
What Happened
Christina Chiu, President of Empire State Realty Trust, received a grant of 261,808 long‑term incentive plan units (LTIP Units) on March 13, 2026. The Form 4 reports an acquisition price of $0.00 (award/derivative). These LTIP Units are a class of Empire State Realty OP, L.P. units that can convert to Operating Partnership Units and ultimately be redeemed for one share of Empire State Realty Trust Class A common stock (or cash at the issuer’s option) upon vesting.
Key Details
- Transaction date and filing: Grant dated 2026-03-13; Form 4 filed 2026-03-17 (filed within the two business‑day deadline).
- Grant details: 261,808 LTIP Units granted, reported acquisition price $0.00 (derivative award).
- Conversion/redemption: LTIP Units convertible to Operating Partnership Units (one-for-one conversion to Class A shares or cash redemption at issuer's option); conversion/redemption rights have no expiration.
- Vesting/holding: Units vest ratably on each of the first four anniversaries of January 1, 2026, subject to continued employment; each vested LTIP Unit is then subject to an additional two‑year holding period.
- Shares owned after transaction: Not specified in this Form 4.
- Plan: Award made under the Empire State Realty Trust, Inc. Empire State Realty OP, L.P. 2024 Equity Incentive Plan.
Context
This was a compensation award (derivative grant), not an open‑market purchase or sale. Such grants are common for executive compensation and reflect long‑term incentive design (vesting and holding restrictions) rather than an immediate purchase or sale signal.
Insider Transaction Report
- Award
LTIP Units
[F1][F2]2026-03-13+261,808→ 1,759,022 total→ Class A Common Stock (261,808 underlying)
Footnotes (2)
- [F1]These represent long term incentive plan units ("LTIP Units"), a class of units of Empire State Realty OP, L.P. (the "Operating Partnership"). Conditioned upon sufficient allocations to the capital accounts of the LTIP Units for federal income tax purposes, LTIP Units are convertible by the Reporting Person, upon vesting, into an equivalent number of units of limited partnership interests ("Operating Partnership Units") of the Operating Partnership, which are redeemable by the holder for shares of Class A Common Stock of Empire State Realty Trust, Inc. (the "Issuer") on a one-for-one basis or the cash value of such shares, at the Issuer's option. The rights to convert LTIP Units into Operating Partnership Units and redeem Operating Partnership Units do not have expiration dates. These LTIP Units were granted under the Empire State Realty Trust, Inc. Empire State Realty OP, L.P. 2024 Equity Incentive Plan.
- [F2]These LTIP Units vest ratably on each of the first four anniversaries of January 1, 2026, subject to continued employment through such dates. Each of the LTIP Units is subject to a holding period for an additional two years following the applicable vesting date of such LTIP Unit.