Company: HPP
Filing Date: 2025-04-23
Form Type: DEF 14A
Source: 0001104659-25-038079
Chunk: 17

Company: Hudson Pacific Properties, Inc.
Filing Date: 2025-04-23
Form: DEF 14A
Chunk 17
---
 ​ |

13

TABLE OF CONTENTS

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

PROPOSAL NO. 2—AMENDED AND RESTATED 2010 INCENTIVE AWARD PLAN BACKGROUND On April 22, 2025, our Board adopted, subject to stockholder approval, an amendment and restatement of the Amended and Restated Hudson Pacific Properties, Inc. and Hudson Pacific Properties, L.P. 2010 Incentive Award Plan (the “Amended Plan”), which makes the following material changes to the prior Amended and Restated Hudson Pacific Properties, Inc. and Hudson Pacific Properties, L.P. 2010 Incentive Award Plan (the “Prior Plan”): • Increases the aggregate share limit under the Amended Plan by 7,259,450 shares, and increases the number of shares which may be granted as incentive stock options under the Amended Plan by 7,259,450 shares; • Extends the right to grant awards under the Amended Plan through April 22, 2035; If the Amended Plan is approved, it will become effective on the date of this Annual Meeting. A copy of the Amended Plan is included as Appendix B to this proxy statement. PROPOSED SHARE RESERVE INCREASE We are asking our stockholders to approve the Amended Plan because we believe the availability of an adequate reserve of shares under an incentive compensation plan is important to our continued growth and success. The purpose of the Amended Plan is to assist us in attracting, motivating and retaining key individuals who serve as our employees, directors and consultants, whose judgment, interest and special effort is critical to the successful conduct of our operation. We believe that the awards to be issued under the Amended Plan will motivate recipients to offer their maximum effort to us and help focus them on the creation of long-term value consistent with the interests of our stockholders. We believe that grants of incentive awards are necessary to enable us to continue to attract and retain top talent; if the Amended Plan is not approved, we believe our recruitment and retention capabilities will be adversely affected. SHARES AVAILABLE FOR ISSUANCE The Amended Plan increases the aggregate Prior Plan share limit by 7,259,450 shares. As of April 1, 2025, there were no shares remaining available for future grants under the Prior Plan. By increasing the reserved shares, we will