Lawrence E. Kreider - May 11, 2021 Form 3 Insider Report for Clipper Realty Inc. (CLPR)

Role
Chief Financial Officer
Signature
/s/ Lawrence E Kreider
Stock symbol
CLPR
Transactions as of
May 11, 2021
Transactions value $
$0
Form type
3
Date filed
5/14/2021, 04:04 PM
Next filing
Jul 27, 2022

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
holding CLPR Long Term Incentive Plan Units May 11, 2021 Common Stock 114K $0.00 Direct F1, F2
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Represents long term incentive plan units ("LTIP Units"), a class of units of Clipper Realty L.P. (the "Operating Partnership"), a direct subsidiary of the Issuer. The LTIP Units are convertible by the reporting person, upon vesting, into an equivalent number of units of limited partnership interests ("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 Issuer or, at the election of the Issuer, one share of Common Stock. The rights to convert LTIP units into OP Units and redeem OP Units do not have expiration dates.
F2 All LTIP Units are fully vested and exercisable.