Company: CLPR
Filing Date: 2025-12-04
Form Type: S-8
Source: 0001437749-25-036920
Chunk: 4

Company: Clipper Realty Inc.
Filing Date: 2025-12-04
Form: S-8
Chunk 4
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 for indemnification and advance of expenses to the maximum extent permitted by Maryland law.

The Registrant has purchased and maintained insurance on behalf of all of its directors and executive officers against liability asserted against or incurred by them in their official capacities, whether or not the Registrant is required or has the power to indemnify them against the same liability.

Insofar as indemnification for liabilities arising under the Securities Act may be permitted to directors, officers or persons controlling the Registrant pursuant to the foregoing provisions, the Registrant has been informed that in the opinion of the SEC such indemnification is against public policy as expressed in the Securities Act and is therefore unenforceable.

| Item 7. | Exemption from Registration Claimed. |

Not Applicable.

| Item 8. Exhibits. 
 Exhibit Number    
 4.1               
 4.2               | Description                                                                                                                                                       
 Clipper Realty Inc. 2025 Omnibus Incentive Compensation Plan (incorporated by reference to Appendix A to the Definitive Proxy Statement filed on April 30, 2025). 
 Clipper Realty Inc. 2025 Non-Employee Director Plan (incorporated by reference to Appendix B to the Definitive Proxy Statement filed on April 30, 2025).          |
|:------------------|:------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| 5.1*              | Opinion of Venable LLP                                                                                                                                            |
| 23.1*             | Consent of PKF O’Connor Davies, LLP                                                                                                                               |
| 23.2*             | Consent of Venable LLP (included in Exhibit 5.1 hereto)                                                                                                           |
| 24.1*             | Power of Attorney (included on signature page hereto)                                                                                                             |
| 107*              | Filing Fee Table                                                                                                                                                  |

| * | Filed herewith. |

| Item 9. | Undertakings. |

The undersigned Registrant hereby undertakes:

1. To file, during any period in which offers or sales are being made, a post-effective amendment to this Registration Statement:

(i) To include any prospectus required by Section 10(a)(3) of the Securities Act;

(ii) To reflect in the prospectus any facts or events arising after the effective date of this Registration Statement (or the most recent post-effective amendment thereof) which, individually or in the aggregate, represent a fundamental change in the information set forth in this Registration Statement. Notwithstanding the foregoing, any increase or decrease in volume of securities offered (