Hudson Pacific EVP granted 9,719 LTIP Units
Suazo Arthur X. reported acquisition or exercise transactions in this Form 4 filing.
Rhea-AI Filing Summary
Suazo Arthur X. reported acquisition or exercise transactions in this Form 4 filing.
Hudson Pacific Properties, Inc. executive vice president of leasing Arthur X. Suazo reported an award of 9,719 LTIP Units. These units were granted at a price of $0.00 per unit and increased his directly held LTIP Units to 150,210.
The LTIP Units were earned based on operational performance metrics for the period from January 1, 2023 to December 31, 2023 and the company’s relative total shareholder return over a three-year period ending December 31, 2025. They vested in full on December 31, 2025 and are subject to an additional two-year mandatory holding period.
Positive
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Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | LTIP Units | 9,719 | $0.00 | $0.00 |
Footnotes (3)
- F1. 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.
- F2. Represents the number of LTIP Units earned based on the achievement of operational performance metrics over the one-year performance period beginning January 1, 2023 and ending December 31, 2023 and the Company's achievement of relative total shareholder return goals over the three-year performance period commencing January 1, 2023 and ending December 31, 2025. The LTIP Units vested in full on December 31, 2025. The LTIP Units are subject to a mandatory holding period under which the executives generally cannot sell the vested LTIP Units for an additional two years following the vesting date.
- F3. 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.
FAQ
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What did Hudson Pacific Properties (HPP) executive Arthur X. Suazo report in this Form 4?
How were the 9,719 LTIP Units for Hudson Pacific Properties (HPP) earned?
When did the LTIP Units reported by Hudson Pacific Properties (HPP) vest?
What restrictions apply to the LTIP Units granted at Hudson Pacific Properties (HPP)?
Can the LTIP Units at Hudson Pacific Properties (HPP) be converted or redeemed?
What is the total LTIP Unit holding for the Hudson Pacific Properties (HPP) executive after this grant?
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