Shimoda Sanford Dale 4
4 · Hudson Pacific Properties, Inc. · Filed Feb 18, 2026
Research Summary
AI-generated summary of this filing
Hudson Pacific (HPP) EVP Shimoda Sanford Dale Receives Award
What Happened
- Shimoda Sanford Dale, Executive Vice President, Finance of Hudson Pacific Properties (HPP), was granted 7,775 LTIP Units (reported as a derivative award) on February 16, 2026. No per‑unit or total dollar price is reported (N/A). The award was earned based on performance metrics and fully vested on December 31, 2025; the units are subject to a mandatory two‑year holding period.
Key Details
- Transaction date: 2026-02-16; Form 4 filed: 2026-02-18 (timely filing).
- Security: 7,775 LTIP Units (derivative award; transaction code A). Price: N/A.
- Shares owned after transaction: not disclosed in the provided filing.
- Footnotes of note:
- F1: LTIP Units are limited partnership units in the Operating Partnership and may convert to Common Units if parity is reached; Common Units are redeemable for cash or shares of Common Stock.
- F2: These LTIP Units were earned based on 2023 operational performance and relative TSR over 2023–2025; vested Dec 31, 2025 and are subject to a two‑year mandatory holding period.
- F3: Conversion and redemption rights do not expire.
- F4: Reported amounts are adjusted for a one‑for‑seven reverse stock split effective Dec 2, 2025.
- Filing timeliness: The Form 4 was filed within the standard two business days after the transaction date.
Context
- LTIP Units are a performance‑based equity award (derivative of partnership units). Because they are awards that vested from prior performance periods and carry a mandatory holding period, they are different from open‑market purchases or sales and do not by themselves signal a buy/sell decision by the insider.
- Conversion of LTIP Units into Common Units or redemption for cash/shares is possible (no expiration on conversion rights), but any sale is restricted until the holding period ends (generally two years after vesting).
Insider Transaction Report
Form 4
Shimoda Sanford Dale
EVP, Finance
Transactions
- Award
LTIP Units
[F1][F2][F3][F4]2026-02-16+7,775→ 64,596 total→ Common Stock, par value $.01 (7,775 underlying)
Footnotes (4)
- [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 granted 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 the number of LTIP Units earned based on the achievement of operational performance metrics over the one-year performance period beginning January 1, 2023 and ending December 31, 2023 and the Company's achievement of relative total shareholder return goals over the three-year performance period commencing January 1, 2023 and ending December 31, 2025. The LTIP Units vested in full on December 31, 2025. The LTIP Units are subject to a mandatory holding period under which the executives generally cannot sell the vested LTIP Units for an additional two years following the vesting date.
- [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.
- [F4]On December 2, 2025, the Company effected a one-for-seven reverse stock split of its Common Stock (the "Reverse Stock Split"). The number of securities reported on this Form 4 has been adjusted to reflect the Reverse Stock Split.
Signature
/s/ Sanford Dale Shimoda|2026-02-18