Hudson Pacific Properties, Inc. — Director's Dealing 2020

Dec 31, 2020

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: Hudson Pacific Properties, Inc. (HPP)
CIK: 0001482512
Period of Report: 2020-12-29

Reporting Person: Barton Christopher James (EVP,Development & Capital Inv)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2020-12-29	Common Stock, par value $0.01	F	2818	$23.49	Disposed	75962	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2020-12-29	LTIP Units	$	A	21286	Acquired		Common Stock, par value $.01 (21286.0)	Direct

Footnotes

F1: Since the date of the reporting person's last ownership report, he transferred 3,883 shares of HPP Common Stock to his ex-wife pursuant to a domestic relations order. The reporting person no longer reports as beneficially owned any securities owned by his ex-wife.

F2: 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 issued 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.

F3: The LTIP Units will vest with respect to one-third of the LTIP Units on each of the first, second and third anniversaries of December 29, 2020, subject to the executive's continued service through the applicable vesting date.

F4: 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.