Company: CLPR
Filing Date: 2025-04-30
Form Type: DEF 14A
Source: 0001437749-25-013840
Chunk: 58

Company: Clipper Realty Inc.
Filing Date: 2025-04-30
Form: DEF 14A
Chunk 58
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 end of the prior year, and (iii) awards granted in a prior year, which vested in the covered year, as of the vesting date, compared to the fair value at the end of the prior year.                                                                  |
| (e) | Average Compensation Actually Paid to the Non-PEO NEOs is the average of the Summary Compensation Table Total adjusted for the average of the change in fair value of LTIP Awards of, $(296,092), $(380,232), and $(1,694,606) in 2024, 2023 and 2022 respectively. The Company’s stock price declined from $9.94 per share on December 31, 2021, to $6.40 per share on December 30, 2022, to $5.40 per share on December 29, 2023, and to $4.58 per share on December 31, 2024. The decrease in fair value of awards in 2024, 2023, and 2022 result primarily from the changes in the fair value of:  (i) unvested awards, which were granted during the covered year, as of the end of the covered year, compared to the fair value on the date of grant, (ii) unvested awards, which were granted during the prior year, as of the end of the covered year, compared to the fair value at the end of the prior year, and (iii) awards granted in a prior year, which vested in the covered year, as of the vesting date, compared to the fair value at the end of the prior year. |
| (f) | Total Stockholder Return for 2024 is based on the decrease in stock price from $9.94 per share on December 31, 2021, to $4.58 per share on December 31, 2024, adjusted for dividends paid in 2024, 2023 and 2022 of $1.14 per share. Total Stockholder Return for 2023 is based on the decline in stock price from $9.94 per share on December 31, 2021, to $5.40 per share on December 30, 2023, adjusted for dividends paid in 2023 and 2022 of $0.76 per share.  Total Shareholder Return for 2022 is based on the decrease in stock price from $9.94 per share on December 31, 202