Form 4: HPP Executive Awarded 31,746 LTIP Units

Hudson Pacific Properties, Inc. EVP of Leasing, Arthur X. Suazo, was granted 31,746 LTIP Units as part of the company's incentive award plan.

Summary

• Arthur X. Suazo, EVP, Leasing of Hudson Pacific Properties, Inc. (HPP), acquired 31,746 LTIP Units on January 7, 2026.
• The LTIP Units are a class of limited partnership units in Hudson Pacific Properties, L.P., granted under the 2010 Incentive Award Plan.
• These units will vest one-third on each of the first, second, and third anniversaries of January 1, 2026, contingent on continued service.
• Vested LTIP Units are subject to a mandatory holding period of an additional three years following the vesting date.
• LTIP Units can be converted into an equal number of Common Units, which are redeemable for cash or an equivalent number of Common Stock shares.
• Following this transaction, Arthur X. Suazo beneficially owns 140,491 LTIP Units.
• The number of securities reported reflects a one-for-seven reverse stock split of Common Stock effected on December 2, 2025.

Sentiment

Score: 6

Explanation: The filing reports a routine executive compensation grant, which is generally a neutral to slightly positive event as it aligns executive incentives with shareholder interests, without indicating any immediate operational or financial changes.

Positives

• The grant of LTIP Units aligns the executive's interests with those of shareholders through equity participation.
• The incentive award plan encourages long-term executive retention and performance through a multi-year vesting schedule and holding period.

Future Outlook

The LTIP Units are subject to a vesting schedule over three years, with one-third vesting annually from January 1, 2026, and a subsequent three-year mandatory holding period, indicating a long-term incentive structure.

Industry Context

This transaction represents a standard practice in executive compensation within the real estate industry, where equity-based incentives like LTIP Units are used to align management's long-term interests with shareholder value creation, particularly in REIT structures.

Related Party Transactions

• Grant of 31,746 LTIP Units to Arthur X. Suazo, EVP, Leasing, which is a transaction between the company and an executive, consistent with the Hudson Pacific Properties, Inc. and Hudson Pacific Properties, L.P. 2010 Incentive Award Plan.

Stakeholder Impact

• Shareholders: Potential for future dilution upon conversion of LTIP Units to common stock, but also benefit from enhanced executive incentive alignment.
• Employees (specifically Arthur X. Suazo): Receives long-term equity compensation, subject to vesting and holding periods, incentivizing continued service and performance.

Next Steps

• Vesting of one-third of the LTIP Units on the first, second, and third anniversaries of January 1, 2026.
• Mandatory holding period of three years for vested LTIP Units following each vesting date.

Key Dates

Keywords

Hudson Pacific Properties, HPP, LTIP Units, Executive Compensation, Stock Grant, Form 4, Incentive Award Plan, Real Estate