Barton Christopher James 4
4 · Hudson Pacific Properties, Inc. · Filed Dec 31, 2020
Insider Transaction Report
Form 4
Barton Christopher James
EVP,Development & Capital Inv
Transactions
- Tax Payment
Common Stock, par value $0.01
2020-12-29$23.49/sh−2,818$66,195→ 75,962 total - Award
LTIP Units
2020-12-29+21,286→ 94,440 total→ Common Stock, par value $.01 (21,286 underlying)
Footnotes (4)
- [F1]Since the date of the reporting person's last ownership report, he transferred 3,883 shares of HPP Common Stock to his ex-wife pursuant to a domestic relations order. The reporting person no longer reports as beneficially owned any securities owned by his ex-wife.
- [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]The LTIP Units will vest with respect to one-third of the LTIP Units on each of the first, second and third anniversaries of December 29, 2020, subject to the executive's continued service through the applicable vesting date.
- [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.