Company: CLPR
Filing Date: 2025-04-30
Form Type: DEF 14A
Source: 0001437749-25-013840
Chunk: 41

Company: Clipper Realty Inc.
Filing Date: 2025-04-30
Form: DEF 14A
Chunk 41
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. 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 Non-Employee Director Plan also provides that our Board may grant Awards or administer the 2025 Non-Employee Director 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 Non-Employee Director Plan.

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Any awards to be made under the 2025 Non-Employee Director 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 Non-Employee Director Plan.

Securities Offered

Subject to stockholder approval of 2025 Non-Employee Director Plan, a total of 3,000,000 shares of our common stock will be reserved for issuance under the 2025 Non-Employee Director Plan, subject to adjustment under the 2025 Non-Employee Director Plan. If an Award granted under the 2025 Non-Employee Director Plan expires, is forfeited or is settled in cash, the shares of our common stock not acquired pursuant to the Award will again become available for subsequent issuance under the 2025 Non-Employee Director Plan. Shares of our common stock subject to Awards that are assumed, converted or substituted under the 2025 Non-Employee Director Plan as a result of our acquisition of another Company will not be counted against the number of shares that may be granted under the 2025 Non-Employee Director Plan. The following types of shares under the 2025 Non-Employee Director Plan will not become available for the grant of new Awards under the 2025 Non-Employee Director Plan: (i) shares withheld to satisfy any tax withholding obligation and (ii) shares tendered to, or withheld by, us to pay the exercise price of an option.

The aggregate Awards that may be granted to a single non-employee director during a fiscal year, solely with respect to his or her service as a director, may not exceed 700,000 shares, subject to adjustment under the 2025 Non-Employee Director Plan.

Only our non-employee directors are permitted to participate in the 2025 Non-Employee Director Plan.

Stock Options

An Award of a stock option gives a grantee the right to