Tidwell Kay Lee 4

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).