Lawrence E. Kreider - Apr 27, 2022 Form 4 Insider Report for Clipper Realty Inc. (CLPR)

Role: Chief Financial Officer
Signature: /s/ Lawrence E. Kreider, Jr.
Stock symbol: CLPR
Transactions as of: Apr 27, 2022
Transactions value $: $0
Form type: 4
Date filed: 7/27/2022, 05:02 PM
Previous filing: May 14, 2021
Next filing: Mar 28, 2023

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
transaction	CLPR	Long Term Incentive Plan Units	Award	$0	+17.5K	+15.29%	$0.00	132K	Apr 27, 2022	Common Stock	17.5K		Direct	F1
transaction	CLPR	Long Term Incentive Plan Units	Award	$0	+7.5K	+5.68%	$0.00	139K	Jun 15, 2022	Common Stock	7.5K		Direct	F1

* 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 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, 2024. The rights to convert LTIP Units into OP Units and redeem OP Units do not have expiration dates.

Content

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, 2024. The rights to convert LTIP Units into OP Units and redeem OP Units do not have expiration dates.