Tidwell Kay Lee 4
4 · Hudson Pacific Properties, Inc. · Filed Feb 18, 2026
Research Summary
AI-generated summary of this filing
Hudson Pacific (HPP) General Counsel Kay Tidwell Receives 9,719 LTIP Units
What Happened
- Kay Lee Tidwell, Executive Vice President and General Counsel of Hudson Pacific Properties, received 9,719 LTIP Units (a derivative award) reported on a Form 4 with a transaction date of 2026-02-16. No purchase price or cash value is reported for the award (listed as N/A). The units vested in full on December 31, 2025 based on operational and relative total shareholder return performance metrics.
Key Details
- Transaction date: 2026-02-16; Form 4 filed 2026-02-18 (two days after the transaction).
- Security: 9,719 LTIP Units (limited partnership units in Hudson Pacific Properties, L.P.); reported as a derivative award (code A).
- Price/Value: N/A — no cash price reported on the filing.
- Shares owned after transaction: Not specified in the Form 4.
- Notable footnotes:
- LTIP Units are limited partnership units that can convert into Common Units if parity is achieved; Common Units are redeemable for cash or shares of common stock (F1, F3).
- The LTIP Units vested based on a one‑year operational performance period (2023) and a three‑year relative TSR period (2023–2025); vesting completed 12/31/2025 (F2).
- Vested LTIP Units are subject to a mandatory two‑year holding period before executives may sell (generally until ~12/31/2027) (F2).
- Reported amounts were adjusted to reflect the company’s 1-for-7 reverse stock split effective 12/02/2025 (F4).
Context
- This was a performance-based award of derivative units rather than an open‑market purchase or sale. Such awards reflect compensation tied to company performance and are not an immediate cash purchase or sale signal.
- The units can potentially convert to common partnership units or be redeemed for cash/shares; conversion/redeem rights have no expiration date (F3).
Insider Transaction Report
Form 4
Tidwell Kay Lee
Executive VP, General Counsel
Transactions
- Award
LTIP Units
[F1][F2][F3][F4]2026-02-16+9,719→ 94,778 total→ Common Stock, par value $.01 (9,719 underlying)
Footnotes (4)
- [F1]LTIP Units are a class of limited partnership units in Hudson Pacific Properties, L.P. (the "Operating Partnership"), the operating partnership of Hudson Pacific Properties, Inc. (the "Company") and are granted pursuant to the Hudson Pacific Properties, Inc. and Hudson Pacific Properties, L.P. 2010 Incentive Award Plan. Initially, LTIP Units do not have full parity with common limited partnership units of the Operating Partnership ("Common Units") with respect to liquidating distributions. If such parity is reached, vested LTIP Units may be converted into an equal number of Common Units at any time thereafter, and, upon conversion, enjoy all the rights of Common Units. Common Units are redeemable for cash based on the fair market value of an equivalent number of shares of Common Stock, or, at the election of the Company, an equal number of shares of Common Stock, each subject to adjustment in the event of stock splits, specified extraordinary distributions or similar events.
- [F2]Represents the number of LTIP Units earned based on the achievement of operational performance metrics over the one-year performance period beginning January 1, 2023 and ending December 31, 2023 and the Company's achievement of relative total shareholder return goals over the three-year performance period commencing January 1, 2023 and ending December 31, 2025. The LTIP Units vested in full on December 31, 2025. The LTIP Units are subject to a mandatory holding period under which the executives generally cannot sell the vested LTIP Units for an additional two years following the vesting date.
- [F3]The rights to convert LTIP Units into Common Units and redeem Common Units for cash or shares of Common Stock do not have expiration dates.
- [F4]On December 2, 2025, the Company effected a one-for-seven reverse stock split of its Common Stock (the "Reverse Stock Split"). The number of securities reported on this Form 4 has been adjusted to reflect the Reverse Stock Split.
Signature
/s/ Kay Lee Tidwell|2026-02-18