Form 4: Clipper Realty Director Sam Levinson Acquires Long Term Incentive Plan Units

Director Sam Levinson reports acquisition of Long Term Incentive Plan Units in Clipper Realty Inc., increasing his beneficial ownership.

Summary

• On March 12, 2024, Sam Levinson, a director and 10% owner of Clipper Realty Inc., acquired Long Term Incentive Plan Units (LTIP Units).
• He acquired 40,035 LTIP Units that will vest 25% on each of March 31, 2024, June 30, 2024, September 30, 2024 and December 31, 2024.
• He also acquired 109,184 LTIP Units that will vest in full on January 1, 2027.
• These LTIP Units are convertible into limited partnership units (OP Units) of Clipper Realty L.P., a subsidiary of Clipper Realty Inc.
• Each OP Unit is redeemable for cash equal to the price of a share of Clipper Realty's common stock or, at the company's election, one share of its common stock.
• Following these transactions, Levinson directly owns 901,614 shares and 1,010,798 shares.
• The reporting person's direct ownership after the reported transactions is 901,614 and 1,010,798 shares.

Sentiment

Score: 6

Explanation: The sentiment is neutral. It reflects a standard insider transaction related to compensation. The acquisition of LTIP units is generally a positive sign, but it's a routine part of executive compensation.

Positives

• The acquisition of LTIP Units by a director signals confidence in the company's long-term performance.

Future Outlook

The vesting schedules for the LTIP Units suggest a long-term incentive structure for the reporting person.

Industry Context

Insider transactions are closely watched as indicators of management's confidence in the company's prospects within the real estate industry.

Stakeholder Impact

• The acquisition of LTIP Units by a director can positively influence shareholder sentiment.

Key Dates