SCHWIMMER JACOB 4

What Happened
Jacob Schwimmer, Chief Property Management Officer of Clipper Realty Inc. (CLPR), received a grant of 76,637 long-term incentive plan units ("LTIP Units") on Feb 26, 2026. The units were reported at $0.00 per unit (award/derivative transaction code A). These LTIP Units are not ordinary shares today but are convertible into Operating Partnership units ("OP Units") upon vesting; OP Units are redeemable for cash equal to a share price or, at the company's election, one share of common stock.

Key Details

• Transaction date: 2026-02-26; Form 4 filed: 2026-02-26.
• Transaction type/code: Award/Grant (A); reported price $0.00 for 76,637 LTIP Units.
• Shares/units owned after transaction: not specified in the provided filing excerpt.
• Footnote F1: LTIP Units convert, upon vesting, into an equivalent number of OP Units; OP Units can be redeemed for cash equal to a company share price or converted to common stock.
• Footnote F2: LTIP Units vest in full on January 1, 2029; conversion and redemption rights have no expiration date.
• No indication in the provided data that this was a purchase, sale, or a late filing.

Context
This was a compensation award (long-term incentive), a common form of executive pay that vests in the future and does not represent an open-market purchase or sale. Because the LTIP Units are derivative awards that vest later and convert into OP Units (redeemable for cash or stock), they do not immediately change the company’s share float. Such awards are informative about compensation structure and retention incentives but are not direct bullish or bearish trades by the insider.