Company: HPP
Filing Date: 2025-04-23
Form Type: DEF 14A
Source: 0001104659-25-038079
Chunk: 74

Company: Hudson Pacific Properties, Inc.
Filing Date: 2025-04-23
Form: DEF 14A
Chunk 74
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 adjusted downwards. Status of Performance Unit Awards and Achievement of 2022 Performance Unit Awards The following depicts the status of our outstanding Performance Unit awards, including the achievement of our 2022 Performance Unit Awards, which completed the three-year performance period on December 31, 2024:

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| ​ | HUDSON PACIFIC PROPERTIES, INC. 
 Proxy Statement  |  2025        | ​ | ​ |     | ​ |

(1) Weight is based on the grant date fair value. (2) Payouts are based on the amounts earned (or tracking to be earned for the 2023 and 2024 awards) based on performance through December 31, 2024, expressed as a percentage of target. Our 2022 Performance Unit program completed its three-year performance period on December 31, 2024. Under our 2022 Performance Unit program, Performance Units based on relative TSR performance may be earned between 37.5% and 250% of target based on relative TSR performance equal to -1,000bps to +1,500 bps as compared to the FTSE NAREIT Equity Office Index. Performance Units based on operational metrics were “earned” at the end of the one-year performance period on December 31, 2022 at 193.1%, and are subject to modification based on absolute TSR performance. Based on a relative TSR equal to -5,360bps achieved during the performance period, our 2022 Performance Unit program earned 0% under the relative TSR component and payouts under the operational component were reduced by 40% based on our three-year absolute TSR performance of -76.3%. OTHER ASPECTS OF OUR EXECUTIVE COMPENSATION PROGRAM Risk Mitigation Our executive compensation program is designed to achieve an appropriate balance between risk and reward that does not incentivize unnecessary or excessive risk-taking. We believe that our annual cash bonus program and our equity-based compensation program (including the time-based equity awards and the Performance Units, OPPs or other performance-based awards) contain appropriate risk mitigation factors, as summarized below: 56

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| ​ | HUDSON PACIFIC PROPERTIES, INC. 
 Proxy Statement  |  2025        | ​ | ​ |     | ​ |

Ownership Guidelines In addition to the elements of executive officer compensation described below, we have adopted stock ownership guidelines pursuant to which our NEOs are required to hold a number