Ted R. Antenucci - Dec 29, 2022 Form 4 Insider Report for Hudson Pacific Properties, Inc. (HPP)

Role
Director
Signature
/s/ Kay L. Tidwell, as Attorney-in-Fact for Ted R. Antenucci
Stock symbol
HPP
Transactions as of
Dec 29, 2022
Transactions value $
$0
Form type
4
Date filed
1/3/2023, 08:04 PM
Previous filing
May 23, 2022
Next filing
May 30, 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 HPP LTIP Units Award +8.48K +257.02% 11.8K Dec 29, 2022 Common Stock, par value $0.01 8.48K Direct F1, F2, F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
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 issued 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 LTIP Units issued in lieu of the reporting person's 2022 annual cash retainer fees for service on the Company's board of directors. The LTIP Units were fully-vested upon their issuance on December 29, 2022.
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.