COO of Clipper Realty (CLPR) receives 76,637 long-term incentive units

Rhea-AI Filing Summary

Clipper Realty Inc. Chief Operating Officer Jacob Bistricer received a grant of 76,637 Long Term Incentive Plan (LTIP) units on February 24, 2026. These LTIP units vest in full on January 1, 2029 and can then be converted into operating partnership units, which are redeemable for cash or common stock.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider Bistricer Jacob

Role Chief Operating Officer

Type	Security	Shares	Price	Value
Grant/Award	Long Term Incentive Plan Units	76,637	$0.00	--

Holdings After Transaction: Long Term Incentive Plan Units — 1,622,579 shares (Direct)

Footnotes (1)

1. Represents long term incentive plan units ("LTIP Units"), a class of units of Clipper Realty L.P. (the "Operating Partnership"), a direct subsidiary of Clipper Realty Inc. (the "Company"). The LTIP Units are convertible by the reporting person, upon the vesting date, into an equivalent number of units of limited partnership units ("OP Units") of the Operating Partnership. Each OP Unit is redeemable at the request of the holder for cash in an amount equal to the price of a share of common stock of the Company or, at the election of the Company, one share of its common stock. The LTIP Units will vest in full on January 1, 2029. The rights to convert LTIP Units into OP Units and redeem OP Units do not have expiration dates.

Form 4 Insider Transactions: What Each Field Means →

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

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

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Bistricer Jacob

(Last) (First) (Middle)

4611 TWELFTH AVENUE

(Street)

BROOKLYN NY 11219

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Clipper Realty Inc. [ CLPR ]

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

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	Chief Operating Officer

3. Date of Earliest Transaction (Month/Day/Year)
02/24/2026

4. If Amendment, Date of 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

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)
			Code	V	Amount	(A) or (D)	Price

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 Securities Underlying Derivative Security (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: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Long Term Incentive Plan Units(1)	(2)	02/24/2026		A		76,637		(2)	(2)	Common Stock	76,637	$0	1,622,579	D

Explanation of Responses:

1. Represents long term incentive plan units ("LTIP Units"), a class of units of Clipper Realty L.P. (the "Operating Partnership"), a direct subsidiary of Clipper Realty Inc. (the "Company"). The LTIP Units are convertible by the reporting person, upon the vesting date, into an equivalent number of units of limited partnership units ("OP Units") of the Operating Partnership. Each OP Unit is redeemable at the request of the holder for cash in an amount equal to the price of a share of common stock of the Company or, at the election of the Company, one share of its common stock.

2. The LTIP Units will vest in full on January 1, 2029. The rights to convert LTIP Units into OP Units and redeem OP Units do not have expiration dates.

	/s/ Jacob Bistricer	02/26/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* 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).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

What did Clipper Realty (CLPR) COO Jacob Bistricer report on this Form 4?

Jacob Bistricer reported receiving a grant of 76,637 Long Term Incentive Plan (LTIP) units. These are equity-based awards from Clipper Realty’s operating partnership, designed to align executive compensation with long-term company performance and shareholder interests over several years.

How many LTIP units did the Clipper Realty (CLPR) COO receive?

The Chief Operating Officer received 76,637 LTIP units. These units are part of a long-term incentive program and increase his total directly held derivative units to 1,622,579, strengthening his equity-linked exposure to Clipper Realty’s underlying business and unit price performance.

When do the newly granted Clipper Realty (CLPR) LTIP units vest?

The LTIP units granted to the COO vest in full on January 1, 2029. Vesting means the units become fully earned, after which they can be converted into operating partnership units and potentially redeemed for cash or common stock, depending on company election.

What can Clipper Realty (CLPR) LTIP units be converted into after vesting?

After vesting, each LTIP unit is convertible into one operating partnership (OP) unit. Each OP unit is redeemable for cash equal to the price of one Clipper Realty common share or, at the company’s election, one share of its common stock instead of cash.

Does this Clipper Realty (CLPR) LTIP grant involve a cash purchase by the COO?

No, the LTIP units were granted at a stated price of $0.00 per unit, indicating an award rather than an open-market purchase. This reflects compensation granted by the company’s operating partnership, not a cash investment by the Chief Operating Officer.