LORBER HOWARD M 4
4 · Clipper Realty Inc. · Filed Feb 26, 2026
Research Summary
AI-generated summary of this filing
Clipper Realty (CLPR) Director Howard M. Lorber Receives LTIP Award
What Happened
Howard M. Lorber, a director of Clipper Realty Inc. (CLPR), was granted 7,961 long-term incentive plan units (LTIP Units) on 2026-02-24. The units were awarded at $0.00 (no cash paid) and are reported as a derivative award (transaction code A). LTIP Units are not immediately common shares; they convert into operating partnership units (OP Units) upon vesting and OP Units can be redeemed for cash equal to the company’s common share price or, at the company's election, exchanged for common stock.
Key Details
- Transaction date: 2026-02-24; Form 4 filed: 2026-02-26 (timely filing).
- Award: 7,961 LTIP Units; reported acquisition price $0.00 (award/grant).
- Vesting schedule (footnote): 25% vests on each of 2026-03-31, 2026-06-30, 2026-09-30 and 2026-12-31.
- Conversion/redeem rights: LTIP Units convert to OP Units on vesting; OP Units are redeemable for cash equal to the Company’s common share price or, at the Company’s election, for one share of common stock. Conversion/redemption rights have no expiration. (See footnotes F1 and F2.)
- Shares/units owned after transaction: Not specified in the provided excerpt.
- Transaction code: A = Award/Grant (derivative). No sale or purchase of common stock occurred.
Context
LTIP Units are a common form of long-term equity compensation intended for retention and alignment with shareholders. Because these are derivative awards that vest over time and require conversion/redemption to realize value, they are not equivalent to an immediate open-market purchase of common stock. Awards alone are factual disclosures of compensation events and do not, by themselves, indicate the insider’s view of the company’s near-term stock prospects.
Insider Transaction Report
- Award
Long Term Incentive Plan Units
[F1][F2]2026-02-24+7,961→ 34,960 total→ Common Stock (7,961 underlying)
Footnotes (2)
- [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 25% on each of March 31, 2026, June 30, 2026, September 30, 2026 and December 31, 2026. The rights to convert LTIP Units into OP Units and redeem OP Units do not have expiration dates.