COLEMAN VICTOR J 4
4 · Hudson Pacific Properties, Inc. · Filed Feb 18, 2026
Research Summary
AI-generated summary of this filing
Hudson Pacific (HPP) CEO Victor J. Coleman Receives LTIP Award
What Happened Victor J. Coleman, CEO of Hudson Pacific Properties, was reported as acquiring 77,757 LTIP Units (a derivative award) on 2026-02-16. The Form 4 lists this as an award/grant (code A) with no per‑unit price (N/A). These LTIP Units were earned based on operational performance for 2023 and relative total shareholder return for the 2023–2025 period and vested in full on December 31, 2025. The vested units are subject to a mandatory two‑year holding period following vesting (generally not sellable until Dec 31, 2027).
Key Details
- Transaction date filed for: 2026-02-16; Form 4 filed: 2026-02-18 (timely filing).
- Transaction type/code: Award/Grant (A); derivative security (LTIP Units).
- Units awarded/received: 77,757 LTIP Units; reported price: N/A (no cash paid).
- Shares/units owned after transaction: not reported in the provided excerpt.
- Notable footnotes:
- F1: LTIP Units are limited partnership units in the Operating Partnership; initially may lack full parity with Common Units but can convert to Common Units if parity is achieved. Common Units are redeemable for cash or shares of common stock.
- F2: Units were earned based on one‑year operational metrics (2023) and three‑year TSR goals (2023–2025); vested 12/31/2025 and are subject to a mandatory two‑year holding period.
- F3: Conversion and redemption rights have no expiration date.
Context LTIP Units are compensation awards tied to performance and are not the same as an open‑market purchase or sale — they reflect earned executive compensation rather than a direct bullish or bearish trade by the insider. Because these units are subject to conversion/redeemable mechanisms and a two‑year holding restriction, they are not immediately liquid. Retail investors should view this as routine, performance‑based insider compensation rather than a market timing signal.
Insider Transaction Report
- Award
LTIP Units
[F1][F2][F3]2026-02-16+77,757→ 655,318 total→ Common Stock, par value $.01 (77,757 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.