Diramerian Harout Krikor 4
4 · Hudson Pacific Properties, Inc. · Filed Feb 18, 2026
Research Summary
AI-generated summary of this filing
Hudson Pacific (HPP) CFO Harout Diramerian Receives Award
What Happened
- Harout Krikor Diramerian, CFO of Hudson Pacific Properties (HPP), was reported as receiving 12,149 LTIP Units (a derivative award) on 2026-02-16. The Form 4 lists this as an award/grant (code A); no per-share price or immediate cash value is reported (N/A).
- These LTIP Units were earned based on performance metrics for 2023 (one-year operational metrics) and relative total shareholder return over 2023–2025, and they vested in full on December 31, 2025. The units are subject to a mandatory two-year holding period after vesting.
Key Details
- Transaction date: 2026-02-16; Form 4 filed: 2026-02-18 (timely filing).
- Award: 12,149 LTIP Units (derivative units), reported as acquisition (A). Price/value: N/A on the Form 4.
- Shares/units owned after transaction: not specified in the filing.
- Footnotes of note:
- F1: LTIP Units are limited partnership units in the company’s operating partnership; they may convert into Common Units if parity is reached and Common Units can be redeemed for cash or converted into common stock.
- F2: Units were earned based on the stated performance periods and vested 12/31/2025; executives face a two-year mandatory holding period post‑vesting.
- F3: Rights to convert/redeem have no expiration date.
- This is a grant/vesting of long-term, performance-based units (not an open-market purchase or sale), so it represents compensation tied to performance rather than an immediate trading decision by the insider.
Context
- LTIP Units are derivative interests, not immediate shares of common stock; their eventual cash or stock value depends on future conversion/redeem mechanics and whether parity with Common Units is achieved.
- The two-year holding period means the vested units generally cannot be sold before December 31, 2027, limiting immediate liquidity and signaling these are long-term incentive awards rather than short-term insider trading.
Insider Transaction Report
Form 4
Diramerian Harout Krikor
Chief Financial Officer
Transactions
- Award
LTIP Units
[F1][F2][F3]2026-02-16+12,149→ 96,391 total→ Common Stock, par value $.01 (12,149 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.
Signature
/s/ Harout Krikor Diramerian|2026-02-18