Suazo Arthur X. 4
4 · Hudson Pacific Properties, Inc. · Filed Feb 18, 2026
Research Summary
AI-generated summary of this filing
Hudson Pacific (HPP) EVP Arthur X. Suazo Receives 9,719 LTIP Units
What Happened
Arthur X. Suazo, Executive Vice President, Leasing at Hudson Pacific Properties, was reported as acquiring 9,719 LTIP Units (a derivative award) on 2026-02-16 (Form 4 filed 2026-02-18). No purchase price or cash value is reported for the award. According to the filing footnotes, these LTIP Units were earned based on operational and relative TSR performance and vested in full on December 31, 2025; they are subject to a mandatory two‑year holding period after vesting.
Key Details
- Transaction date: 2026-02-16 (Form 4 filed 2026-02-18) — filing appears timely.
- Transaction type: Award/Grant of LTIP Units (derivative) — Code A.
- Units acquired: 9,719 LTIP Units; acquisition price: N/A.
- Shares owned after transaction: Not specified in the provided filing excerpt.
- Notable footnotes:
- F1: LTIP Units are limited partnership units in the Operating Partnership, granted under the company incentive plan and potentially convertible into Common Units (redeemable for cash or shares).
- F2: Units were earned for performance over 2023–2025, vested 12/31/2025, and are subject to a mandatory two‑year holding period following vesting.
- F3: Conversion and redemption rights have no expiration date.
- No indication of sale, tax withholding, or 10b5-1 plan in the provided excerpt.
Context
LTIP Units are a form of long‑term incentive compensation, not an open‑market purchase or sale. They may convert into common partnership units and be redeemed for cash or Hudson Pacific common stock if certain parity/conversion conditions are met. Because these units vested on 12/31/2025 and carry a two‑year holding restriction, Suazo generally cannot sell the vested units until about 12/31/2027. This transaction reflects compensation tied to multi‑year performance metrics rather than an immediate trading decision.
Insider Transaction Report
- Award
LTIP Units
[F1][F2][F3]2026-02-16+9,719→ 150,210 total→ Common Stock, par value $.01 (9,719 underlying)
Footnotes (3)
- [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.