Shimoda Sanford Dale 4

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).