Burger Richard N 4
4 · Clipper Realty Inc. · Filed Feb 26, 2026
Research Summary
AI-generated summary of this filing
Clipper Realty (CLPR) Director Richard Burger Receives LTIP Award
What Happened Richard N. Burger, a director of Clipper Realty Inc. (CLPR), received a grant of 7,961 long‑term incentive plan units ("LTIP Units") on February 26, 2026. The award was reported at a $0.00 price (an equity grant/award, not a cash purchase). LTIP Units are a derivative compensation vehicle that can convert into operating partnership units ("OP Units") upon vesting and those OP Units are redeemable for cash equal to the Company's common stock price or, at the Company's election, for shares of common stock.
Key Details
- Transaction date: 2026-02-26; Transaction type: Award/Grant (code A); Reported price: $0.00.
- Units granted: 7,961 LTIP Units (derivative award).
- Shares/units owned after transaction: Not specified in the provided filing excerpt.
- Vesting schedule (footnote): LTIP Units vest 25% on each of March 31, June 30, September 30 and December 31, 2026.
- Conversion/redemption: LTIP Units convert into OP Units upon vesting; each OP Unit is redeemable for cash equal to a share of the Company’s common stock or, at the Company’s election, one share of common stock. Conversion/redemption rights have no expiration.
- Filing timeliness: No late filing was indicated in the information provided.
Context This transaction is a compensation grant (an award of LTIP Units), not an open‑market purchase or sale. Such grants are routine for executives and directors as part of long‑term incentive compensation; they become economically meaningful as units vest and are converted/redeemed. For retail investors, awards are informative about how insiders are being compensated but do not by themselves indicate immediate buying or selling of company stock.
Insider Transaction Report
- Award
Long Term Incentive Plan Units
[F1][F2]2026-02-26+7,961→ 33,293 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.