Company: HPP
Filing Date: 2025-04-23
Form Type: DEF 14A
Source: 0001104659-25-038079
Chunk: 86

Company: Hudson Pacific Properties, Inc.
Filing Date: 2025-04-23
Form: DEF 14A
Chunk 86
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 prior to December 31, 2025 in connection with a change in control or due to a participant’s termination of employment without “cause,” for “good reason” or due to the participant’s death or disability (referred to as qualifying terminations), then the number of Performance Units that vest will equal the greater of (x) the target number of Performance Units and (y) the number of Performance Units that would vest based on actual achievement of the performance goals through the date of a change in control or a qualifying termination. Pursuant to the 2024 Performance Unit awards, in the event of a qualifying termination, (i) the service-based requirement will lapse in full and any earned Performance Units will vest, and (ii) any unearned Performance Units will remain outstanding through the end of the performance period and will remain eligible to vest upon achievement of the applicable stock price goals. However, if the qualifying termination had occurred on or prior to December 31, 2024, only 50% of any earned Performance Units would have vested. Additionally, the 2024 Performance Unit awards provide that if a change in control occurs, a number of Performance Units will be earned and will vest based on the price per share paid by an acquiror in connection with such change in control (or, with respect to a non-transactional change in control, based on the price per share on the change in control date). SUMMARY OF POTENTIAL PAYMENTS UPON TERMINATION OR CHANGE IN CONTROL The following table summarizes the payments that would be made to our NEOs upon the occurrence of certain qualifying terminations of employment or a change in control, in any case, occurring on December 31, 2024, and includes potential payments that would be made to Mr. Gordon had his employment agreement (effective as of January 1, 2025) been in effect as of December 31, 2024. Amounts shown do not include (i) accrued but unpaid base salary through the date of termination, or (ii) other benefits earned or accrued by the NEO during his employment that are available to all salaried employees, such as accrued vacation, and assume that any successor company in a change in control assumed or substituted awards for any outstanding awards under the 2010 Plan. 66

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