SEC Form 4 · accession 0001482512-19-000043

Hudson Pacific Properties, Inc. · HPP

Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗

Reporting owner

Officer — Executive VP, General Counsel

Period of report

Mar 11, 2019

Accepted (ET)

Mar 13, 2019 · 9:44 pm EDT

Rule 10b5-1 plan

unknown — predates the checkbox

Issuer CIK

0001482512

Table I — non-derivative securities

No Table I lines on this filing.

Security	Conv. / exercise price	Date	Code	Shares	A/D	Exercisable	Expires	Underlying	Underlying shares	Owned after	D/I
LTIP Units^F1,F2	—	Mar 11, 2019	A	25,676	A	—	—	Common Stock, par value $.01	25,676	40,636	D

F1LTIP Performance Units are a class of limited partnership units in Hudson Pacific Properties, L.P. (the "Operating Partnership") of the Company. Initially, LTIP Performance 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 Performance 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(Continued from Footnote 1) The LTIP Performance Units issued are pursuant to the Hudson Pacific Properties, Inc. and Hudson Pacific Properties, L.P. 2010 Incentive Award Plan and includes 12,838 unvested LTIP Performance Units, which will vest in equal annual installments on each of the first and second anniversaries of December 31, 2018, subject to the executive's continued service through the applicable vesting date.