Company: HPP
Filing Date: 2025-04-23
Form Type: DEF 14A
Source: 0001104659-25-038079
Chunk: 56

Company: Hudson Pacific Properties, Inc.
Filing Date: 2025-04-23
Form: DEF 14A
Chunk 56
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 sector, and the historic and prolonged studio-related strikes, and accordingly made certain changes to our executive compensation program to support this initiative. • No Increases to Cash Compensation. Our NEOs’ cash compensation opportunities, including base salary and cash bonus opportunities, have not been increased since 2022 and remain unchanged for 2025. • Long-Term Incentive Program Redesign. Our historical long-term incentive program structure balanced operational performance achievements with stock price performance. Given the continued challenges faced in our sector, our Compensation Committee, with consultation from Ferguson Partners Consulting (FPC), the Committee’s independent compensation consultant, determined that it was appropriate to reevaluate our historical practice in order to keep our NEOs focused on stock price growth and shareholder alignment as they seek to position our portfolio for growth while balancing retention, as further described in the next bullet. • Emphasis on Long-Term Stock Price Growth. In 2024, our CEO, our President and our CFO received “upfront” equity awards sized to cover two years of grants (i.e., grants for 2024 and 2025) in order to encourage retention, stockholder alignment and stock price recovery. 50% of the awards are in the form of performance-based LTIP units that are earned only to the extent that we are able to achieve sustained long-term stock price growth during a five-year performance period from 2026 – 2030. They also contain a time-vesting component and a two-year post-vesting holding period. The remaining 50% of the awards are in 41

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

the form of time-based LTIP units with a five-year vesting period, with an additional three-year post-vesting holding period. We believe the time-vesting and post-vesting holding period requirements of these awards ensure long-term alignment with our stockholders. Executive Pay and Financial-TSR Alignment While our LTI redesign directly aligns our top NEOs with our stock price recovery, our historical and outstanding programs are also meaningfully tied to both financial and stock price performance. To the extent that we do not achieve strong absolute and relative returns, payouts are materially impacted. Additionally, performance-based and time-based equity awards granted to our NEOs have a two- to three-year, respectively, mandatory post-vest holding period, thereby further aligning our