Hudson Pacific (HPP) awards LTIP and performance-based units to president

Rhea-AI Filing Summary

Hudson Pacific Properties, Inc. reported new equity-based awards for its president, Mark T. Lammas. On January 7, 2026, he was granted 87,301 LTIP Units and up to 43,650 performance-based LTIP Units at a price of $0.00 per unit. The LTIP Units vest in three equal parts on the first, second and third anniversaries of January 1, 2026, followed by a three-year holding period in which vested units generally cannot be sold.

Performance LTIP Units may be earned based on the company’s relative total shareholder return from January 1, 2026 through December 31, 2028, with 43,650 representing the maximum that may be earned; fewer units may vest depending on results and continued service through December 31, 2028. LTIP Units can be converted into Operating Partnership Common Units and ultimately into cash or an equal number of shares of common stock, and these conversion and redemption rights do not have expiration dates. The reported quantities reflect a previously completed one-for-seven reverse stock split effective December 2, 2025.

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

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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^*

LAMMAS MARK T

(Last) (First) (Middle)

11601 WILSHIRE BLVD. SUITE 900

(Street)

LOS ANGELES CA 90025

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Hudson Pacific Properties, Inc. [ HPP ]

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

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

3. Date of Earliest Transaction (Month/Day/Year)
01/07/2026

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
LTIP Units(1)(2)	(1)	01/07/2026		A		87,301		(2)	(3)	Common Stock, par value $0.01	87,301	(1)	260,751(4)	D
Performance LTIP Units(1)(5)	(1)	01/07/2026		A		43,650		(5)	(3)	Common Stock, par value $0.01	43,650	(1)	43,650	D

Explanation of Responses:

1. LTIP Units are a class of limited partnership units in Hudson Pacific Properties, L.P. (the "Operating Partnership"), the operating partnership of Hudson Pacific Properties, Inc. (the "Company") and are granted pursuant to the Hudson Pacific Properties, Inc. and Hudson Pacific Properties, L.P. 2010 Incentive Award Plan. Initially, LTIP Units do not have full parity with common limited partnership units of the Operating Partnership ("Common Units") with respect to liquidating distributions. If such parity is reached, vested LTIP Units may be converted into an equal number of Common Units at any time thereafter, and, upon conversion, enjoy all the rights of Common Units. Common Units are redeemable for cash based on the fair market value of an equivalent number of shares of Common Stock, or, at the election of the Company, an equal number of shares of Common Stock, each subject to adjustment in the event of stock splits, specified extraordinary distributions or similar events.

2. The LTIP Units will vest with respect to one-third of the LTIP Units on each of the first, second and third anniversaries of January 1, 2026, subject to the executive's continued service through the applicable vesting date. The LTIP Units are subject to a mandatory holding period under which the executives generally cannot sell the vested LTIP Units for an additional three years following the vesting date.

3. The rights to convert LTIP Units into Common Units and redeem Common Units for cash or shares of Common Stock do not have expiration dates.

4. On December 2, 2025, the Company effected a one-for-seven reverse stock split of its Common Stock (the "Reverse Stock Split"). The number of securities reported on this Form 4 has been adjusted to reflect the Reverse Stock Split.

5. Represents an award of performance-based LTIP Units that will vest upon the satisfaction of both performance and service-based requirements. The LTIP Units may be earned based on the Company's achievement of relative total shareholder return goals over the three-year performance period commencing January 1, 2026 and ending December 31, 2028. The quantity reported represents the maximum quantity of LTIP Units that may be earned. As such, fewer LTIP Units may ultimately be earned based on actual results over the performance period. The earned LTIP Units will satisfy the service-based requirement subject to the executive's continued service with the Company through December 31, 2028. The LTIP Units are subject to a mandatory holding period prohibiting the transfer of any vested LTIP Units and the conversion of vested LTIP Units into Common Units, in each case, for an additional two years following the vesting date.

Remarks:

	/s/ Mark Thomas Lammas	01/09/2026
	** Signature of Reporting Person	Date
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FAQ

What insider equity awards did Hudson Pacific Properties (HPP) report for its president?

The president, Mark T. Lammas, was granted 87,301 LTIP Units and up to 43,650 performance-based LTIP Units on January 7, 2026, at a price of $0.00 per unit.

How and when do the LTIP Units granted to the Hudson Pacific president vest?

The LTIP Units vest in three equal installments, with one-third vesting on each of the first, second and third anniversaries of January 1, 2026, subject to the executive’s continued service, followed by a three-year holding period after each vesting date.

What conditions apply to the performance-based LTIP Units granted by Hudson Pacific Properties (HPP)?

The performance LTIP Units may be earned based on the company’s relative total shareholder return over a performance period from January 1, 2026 to December 31, 2028. The reported 43,650 units are the maximum that may be earned, and actual earned units also require continued service through December 31, 2028 and are subject to a two-year post-vesting holding period.

Can Hudson Pacific LTIP Units be converted into common stock or cash?

Once vested and after any holding period, LTIP Units may be converted into an equal number of Common Units of the Operating Partnership if they reach parity. Those Common Units are redeemable for cash based on the fair market value of an equivalent number of shares of common stock, or, at the company’s election, an equal number of shares of common stock.

Do the LTIP and performance LTIP Units reported by Hudson Pacific have expiration dates on conversion rights?

The rights to convert LTIP Units into Common Units and to redeem Common Units for cash or shares of common stock do not have expiration dates, according to the disclosure.

How did Hudson Pacific’s reverse stock split affect the reported LTIP awards?

The company completed a one-for-seven reverse stock split of its common stock on December 2, 2025, and the numbers of securities in this insider report have been adjusted to reflect that reverse split.

Does this Hudson Pacific insider filing show any stock sales by the president?

The reported transactions are coded as "A" (awards) of LTIP Units and performance LTIP Units at $0.00 per unit, indicating grants rather than sales or disposals.