CFO at Clipper Realty (CLPR) receives 71,686 long-term incentive units

Rhea-AI Filing Summary

Clipper Realty Inc. Chief Financial Officer Lawrence E. Kreider received a grant of 71,686 Long Term Incentive Plan Units on February 24, 2026. These LTIP Units are a class of units in Clipper Realty L.P., the company’s operating partnership.

The LTIP Units will vest in full on January 1, 2029. Once vested, they can be converted into an equal number of operating partnership units, each of which may be redeemed for cash equal to the market price of one Clipper Realty common share or, at the company’s election, one share of its common stock.

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^*

KREIDER LAWRENCE E

(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 Financial 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		71,686		(2)	(2)	Common Stock	71,686	$0	382,214	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/ Lawrence E. Kreider, Jr.	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 insider transaction did Clipper Realty (CLPR) report for its CFO?

Clipper Realty reported that CFO Lawrence E. Kreider received a grant of 71,686 Long Term Incentive Plan Units on February 24, 2026. These are equity-based incentive awards issued at a price of $0.00 per unit under the company’s incentive program.

What are the Long Term Incentive Plan Units granted by Clipper Realty (CLPR)?

The grant consists of Long Term Incentive Plan Units (LTIP Units), a class of units in Clipper Realty L.P., the operating partnership. After vesting, each LTIP Unit can be converted into one operating partnership unit that is redeemable for cash or one share of Clipper Realty common stock.

When do the LTIP Units granted to the Clipper Realty (CLPR) CFO vest?

The LTIP Units granted to the CFO will vest in full on January 1, 2029. Only after that vesting date can the reporting person convert them into operating partnership units and then seek redemption for cash or shares, according to the plan terms.

How can the LTIP Units at Clipper Realty (CLPR) be settled after vesting?

After vesting, LTIP Units may be converted into operating partnership units. Each operating partnership unit is redeemable for cash equal to the price of one common share or, at Clipper Realty’s election, can be settled in one share of its common stock instead of cash.

Do the LTIP Units granted by Clipper Realty (CLPR) have an expiration date?

The filing states that the rights to convert LTIP Units into operating partnership units and to redeem those units do not have expiration dates. This means the conversion and redemption features remain available after vesting without a stated end date.

How many derivative units does the Clipper Realty (CLPR) CFO hold after this grant?

Following this transaction, the CFO beneficially owns 382,214 Long Term Incentive Plan Units in total. This reflects the newly granted 71,686 LTIP Units added to his existing holdings, as reported in the Form 4 ownership figures.