COLEMAN VICTOR J 4

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.