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

Role: Chief Financial Officer
Signature: /s/ Lawrence E. Kreider, Jr.
Issuer symbol: CLPR
Transactions as of: 27 Apr 2022
Net transactions value: $0
Form type: 4
Filing time: 27 Jul 2022, 17:02:38 UTC
Previous filing: 14 May 2021
Next filing: 28 Mar 2023
SEC: View on sec.gov

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	+17,500	+15%	$0.000000	131,934	27 Apr 2022	Common Stock	17,500		Direct	F1
transaction	CLPR	Long Term Incentive Plan Units	Award	$0	+7,500	+5.7%	$0.000000	139,434	15 Jun 2022	Common Stock	7,500		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.