Company: CLPR
Filing Date: 2025-04-30
Form Type: DEF 14A
Source: 0001437749-25-013840
Chunk: 29

Company: Clipper Realty Inc.
Filing Date: 2025-04-30
Form: DEF 14A
Chunk 29
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 employees; all other Awards may be granted to employees and consultants. Our non-employee directors are not permitted to participate in the 2025 Omnibus Incentive Plan.

Administration

The 2025 Omnibus Incentive Plan is administered by the Compensation Committee. Subject to the terms of the 2025 Omnibus Incentive Plan, the Compensation Committee determines which employees and consultants will receive Awards under the 2025 Omnibus Incentive Plan, the dates of grant, the number and types of Awards to be granted, the exercise or purchase price of each Award, and the terms and conditions of the Awards, including the period of their exercisability and vesting and the fair market value applicable to a stock Award.

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In addition, the Compensation Committee has the authority to determine whether any Award may be settled in cash, shares of our common stock, other securities, or other awards or property. The Compensation Committee has the authority to interpret the 2025 Omnibus Incentive Plan and may adopt any administrative rules, regulations, procedures and guidelines governing the 2025 Omnibus Incentive Plan or any Awards granted under the 2025 Omnibus Incentive Plan as it deems to be appropriate. The Compensation Committee may also delegate any of its powers, responsibilities or duties to any person who is not a member of the Compensation Committee or any administrative group within the Company. The 2025 Omnibus Incentive Plan also provides that our Board may grant Awards or administer the 2025 Omnibus Incentive Plan, in which case the Board will have all the responsibility and authority granted to the Compensation Committee. Historically, our Board has granted awards under the 2015 Omnibus Incentive Plan.

Any awards to be made under the 2025 Omnibus Incentive Plan will be subject to the discretion of our Compensation Committee or the Board. As a result, it is not possible to determine the number or type of future awards that will be granted to any person under the 2025 Omnibus Incentive Plan.

Securities Offered

Subject to stockholder approval of the 2025 Omnibus Incentive Plan, a total of 7,800,000 shares of our common stock will be reserved and available for issuance under the 2025 Omnibus Incentive Plan. If an Award granted under the 2025 Omnibus Incentive Plan expires, is forfeited or is settled in cash, the shares of our common stock