Company: HPP
Filing Date: 2025-07-15
Form Type: S-3
Source: 0001193125-25-159399
Chunk: 32

Company: Hudson Pacific Properties, Inc.
Filing Date: 2025-07-15
Form: S-3
Chunk 32
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 except as discussed below under “—General Partner Fundamental Change,” effect a “fundamental                                                                                                                                                 
 change,” which is generally defined as a merger, consolidation or other combination of the Company’s assets with another entity, a sale of all or substantially all of the Company’s assets not in the ordinary course of the                
 Company’s business, a reclassification, recapitalization or change in the terms of the Company’s outstanding common equity interests (other than in connection with a stock split, reverse stock split, stock dividend, change in par value, 
 increase in authorized shares, designation or issuance of new classes of equity securities or any event that does not require the approval of the Company’s stockholders), as a result of which the Company’s stock ceases to be publicly    
 traded or common units cease to be exchangeable (at the Company’s option) for publicly traded shares of the Company’s stock.                                                                                                                 |

General Partner Fundamental Change Without the approval of limited partners holding a majority in interest of the series A preferred units, the Company may not engage in a “fundamental change,” unless upon consummation of such a fundamental change transaction the partnership agreement or other organizational documents of any successor to our operating partnership will contain certain provisions requiring:

| • |     | our operating partnership or such successor to make minimum tax distributions to holders of the Company’s 
 series A preferred units;                                                                                 |

| • |     | the Company or its successor to continue to own an aggregate of at least 33% of the equity in our operating                              
 partnership through the ownership of equity interests which are subordinate to our operating partnership’s series A preferred units; and |

| • |     | our operating partnership or such successor to refrain from incurring additional indebtedness if its ratio of                                            
 total indebtedness to gross asset value exceeds 50%, or allow this leverage ratio to exceed 60%, so long as series A preferred units remain outstanding. |

In connection with any fundamental change transaction, our operating partnership has the right to redeem all or any portion of the then outstanding series A preferred units for cash per unit equal to the redemption price. 22

LTIP Units

Our operating partnership is authorized to issue a class of units of partnership interest designated as “LTIP units.” We may cause
our operating partnership to issue LTIP units, in one or more classes or series, with such terms as we may determine, to persons who provide services to or for the benefit of our operating partnership, for such consideration or for no consideration,
and we may admit such persons as limited partners