Company: CLPR
Filing Date: 2025-04-30
Form Type: DEF 14A
Source: 0001437749-25-013840
Chunk: 28

Company: Clipper Realty Inc.
Filing Date: 2025-04-30
Form: DEF 14A
Chunk 28
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 August 2, 2025, pursuant to its terms. All outstanding awards granted under the 2015 Non-employee Director Plan will continue under the terms of the 2015 Non-employee Director Plan.

If the 2025 Omnibus Incentive Plan is approved by our stockholders, the 2025 Omnibus Incentive Plan will replace the 2015 Omnibus Incentive Plan as of such date, and we will cease granting any new awards under the 2015 Omnibus Incentive Plan. If the 2025 Omnibus Incentive Plan is not approved by our stockholders, the 2015 Omnibus Incentive Plan will remain in effect in its current form, and we will continue to be able to grant equity incentive awards under such plan until its expiration. If the 2025 Omnibus Incentive Plan is not approved by our stockholders, following the expiration of the 2015 Omnibus Incentive Plan, we will be unable to maintain our equity award practices and therefore will be at a significant competitive disadvantage in attracting, retaining and motivating employees (including prospective employees) and consultants. The Board believes that it is in our and our stockholders’ interest to approve the 2025 Omnibus Incentive Plan.

The following is a summary of the material provisions of the 2025 Omnibus Incentive Plan and is qualified in its entirety by reference to the specific language of the 2025 Omnibus Incentive Plan in the form attached hereto as Appendix A.

Overview

The purposes of our 2025 Omnibus Incentive Plan are to give us a competitive advantage in attracting, retaining and motivating employees (including prospective employees) and consultants, align the interests of those individuals with the Company’s stockholders and promote ownership of the Company’s equity.

The 2025 Omnibus Incentive Plan provides for the grant of stock options (both stock options intended to be “incentive stock options” intended to meet the requirements under Section 422 of the Internal Revenue Code (the “Code”) and “nonqualified stock options” that do not meet such requirements), stock appreciation rights (“SARs”), restricted stock, restricted stock units, LTIP units, dividend equivalent rights, other equity-based, equity-related or cash-based awards (including performance share awards and performance units settled in cash (collectively “Awards”)), with each grant evidenced by an award agreement providing the terms of the Award. Incentive stock options may be granted only to