| Type | Sym | Class | Transaction | Value $ | Shares | Change % | * Price $ | Shares After | Date | Ownership | Footnotes |
|---|---|---|---|---|---|---|---|---|---|---|---|
| holding | HPP | Common Stock, par value $0.01 | 113K | Mar 1, 2023 | Direct | F1 |
| Type | Sym | Class | Transaction | Value $ | Shares | Change % | * Price $ | Shares After | Date | Underlying Class | Amount | Exercise Price | Ownership | Footnotes |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| transaction | HPP | LTIP Units | Award | +50.9K | +8.78% | 630K | Mar 1, 2023 | Common Stock, par value $0.01 | 50.9K | Direct | F2, F3, F4 |
| Id | Content |
|---|---|
| F1 | Since the date of the reporting person's last ownership report, he transferred 76,508 shares of common stock to his ex-spouse pursuant to a divorce decree. The reporting person no longer reports as beneficially owned any securities owned by his ex-spouse. The total number of shares of common stock reported as beneficially owned by the reporting person on the Form 4 filed on October 3, 2022 was overstated by 76,508 shares. This Form 4 correctly states the total number of shares of common stock currently beneficially owned by the reporting person. |
| F2 | 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. |
| F3 | Represents LTIP Units issued in lieu of the reporting person's 2022 cash bonus pursuant to an election made by the reporting person. The LTIP Units were fully-vested upon their issuance on March 1, 2023. |
| F4 | 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. |