0001482512-21-000071.txt : 20210316
0001482512-21-000071.hdr.sgml : 20210316
20210316201132
ACCESSION NUMBER: 0001482512-21-000071
CONFORMED SUBMISSION TYPE: 4
PUBLIC DOCUMENT COUNT: 1
CONFORMED PERIOD OF REPORT: 20210312
FILED AS OF DATE: 20210316
DATE AS OF CHANGE: 20210316
REPORTING-OWNER:
OWNER DATA:
COMPANY CONFORMED NAME: Suazo Arthur X.
CENTRAL INDEX KEY: 0001646908
FILING VALUES:
FORM TYPE: 4
SEC ACT: 1934 Act
SEC FILE NUMBER: 001-34789
FILM NUMBER: 21747979
MAIL ADDRESS:
STREET 1: 11601 WILSHIRE BOULEVARD
STREET 2: 6TH FLOOR
CITY: LOS ANGELES
STATE: CA
ZIP: 90025
ISSUER:
COMPANY DATA:
COMPANY CONFORMED NAME: Hudson Pacific Properties, Inc.
CENTRAL INDEX KEY: 0001482512
STANDARD INDUSTRIAL CLASSIFICATION: REAL ESTATE [6500]
IRS NUMBER: 271430478
STATE OF INCORPORATION: MD
FISCAL YEAR END: 1231
BUSINESS ADDRESS:
STREET 1: 11601 WILSHIRE BLVD.
STREET 2: SUITE 1600
CITY: LOS ANGELES
STATE: CA
ZIP: 90025
BUSINESS PHONE: (310) 445-5700
MAIL ADDRESS:
STREET 1: 11601 WILSHIRE BLVD.
STREET 2: SUITE 1600
CITY: LOS ANGELES
STATE: CA
ZIP: 90025
4
1
wf-form4_161593986916347.xml
FORM 4
X0306
4
2021-03-12
0
0001482512
Hudson Pacific Properties, Inc.
HPP
0001646908
Suazo Arthur X.
11601 WILSHIRE BLVD. SUITE 900
LOS ANGELES
CA
90025
0
1
0
0
EVP, Leasing
LTIP Units
2021-03-12
4
A
0
5339
A
Common Stock, par value $.01
5339.0
109883
D
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.
(Continued from Footnote 1) The LTIP Units are also subject to a mandatory holding period under which the executives generally cannot sell vested LTIP Units for an additional two years following the applicable vesting date.
Represents the number of LTIP Units earned based on the achievement of operational performance metrics over the one-year performance period beginning January 1, 2020 and ending December 31, 2020. The actual number of LTIP Units to be issued upon vesting may be adjusted based on the Company's achievement of absolute total shareholder return goals over the three-year performance period commencing January 1, 2020 and ending December 31, 2022.
The LTIP Units will vest in full on December 31, 2022, subject to the executive's continued service through the vesting date.
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.
/s/ Arthur X. Suazo
2021-03-16