Diramerian Harout Krikor 4

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.