BISTRICER DAVID 4

4 · Clipper Realty Inc. · Filed Feb 26, 2026

AI-generated summary of this filing

Updated Feb 26, 2026

Clipper Realty (CLPR) 10% Owner David Bistricer Receives Award

What Happened

David Bistricer, a reported 10% owner of Clipper Realty Inc. (CLPR), received two long‑term incentive plan unit (LTIP Unit) awards on Feb 24, 2026. The grants total 255,967 LTIP Units (91,964 + 164,003), recorded as awards at $0.00 (derivative awards, transaction code A). These LTIP Units are not common shares today but are convertible into Operating Partnership units (OP Units) upon vesting; OP Units can be redeemed for cash equal to the company’s common share price or, at the company’s election, converted into common shares.

Key Details

Transaction date(s) and price(s): Feb 24, 2026; two awards of 91,964 and 164,003 LTIP Units, $0.00 per unit (award).
Vesting: one grant vests in full on Jan 1, 2027; the other vests in full on Jan 1, 2029. Conversion/redemption rights have no expiration date.
Shares owned after transaction: not specified in this Form 4.
Filing timeliness: Report filed Feb 26, 2026 for Feb 24, 2026 transactions — appears to be timely (Form 4 is typically due within two business days).
Note: Reporting person is a 10% owner (significant shareholder), and these are derivative LTIP awards rather than open‑market purchases or sales.

Context

These LTIP Units are awards under a long‑term incentive plan and do not represent immediately tradeable common stock; value to the holder depends on future vesting and the company’s common share price at conversion/redemption. As a 10% owner rather than a typical officer trade, this filing reports compensation/award activity rather than a routine buy or sell.

Form 4

Period: 2026-02-24

DirectorCo-Chairman and CEO10% Owner

Transactions

Award
Long Term Incentive Plan Units
[F1][F2]
2026-02-24+91,964→ 1,624,522 total
→ Common Stock (91,964 underlying)
Award
Long Term Incentive Plan Units
[F1][F3]
2026-02-24+164,003→ 1,788,525 total
→ Common Stock (164,003 underlying)

Footnotes (3)

[F1]Represents long term incentive plan units ("LTIP Units"), a class of units of Clipper Realty L.P. (the "Operating Partnership"), a direct subsidiary of Clipper Realty Inc. (the "Company"). The LTIP Units are convertible by the reporting person, upon the vesting date, into an equivalent number of units of limited partnership units ("OP Units") of the Operating Partnership. Each OP Unit is redeemable at the request of the holder for cash in an amount equal to the price of a share of common stock of the Company or, at the election of the Company, one share of its common stock.
[F2]The LTIP Units will vest in full on January 1, 2027. The rights to convert LTIP Units into OP Units and redeem OP Units do not have expiration dates.
[F3]The LTIP Units will vest in full on January 1, 2029. The rights to convert LTIP Units into OP Units and redeem OP Units do not have expiration dates.

Signature

/s/ David Bistricer|2026-02-26

1 file