Company: HPP
Filing Date: 2025-04-23
Form Type: DEF 14A
Source: 0001104659-25-038079
Chunk: 20

Company: Hudson Pacific Properties, Inc.
Filing Date: 2025-04-23
Form: DEF 14A
Chunk 20
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 in the competitive labor markets in which we compete, the Board has determined that the size of the share reserve under the Amended Plan is reasonable and appropriate at this time. The maximum aggregate number of shares that may be granted as incentive stock options under the Amended Plan following the effective date of the Amended Plan pursuant to Section 422 of the Code is 34,259,450. In light of the factors described above, the Board believes this number represents reasonable potential equity dilution and provides a significant incentive for officers, employees, non-employee directors and consultants to increase the value of the Company for all stockholders. STOCKHOLDER APPROVAL If stockholders do not approve this Proposal No. 2, then the proposed additional shares will not become available for issuance and the original terms of the Prior Plan as currently in place will continue in full force and effect. The material terms of the Amended Plan are summarized below and qualified in their entirety by reference to the Amended Plan attached as Appendix B to this proxy statement. MATERIAL TERMS OF THE AMENDED PLAN ELIGIBILITY AND ADMINISTRATION Our employees, consultants and non-employee directors, and employees, consultants and non-employee directors of our operating partnership and our respective subsidiaries are eligible to receive awards under the Amended Plan. Currently, approximately 73 employees, 9 non-employee directors and 0 consultants are eligible to participate in the Amended Plan. The Amended Plan is administered by our Board with respect to awards to non-employee directors and by the Compensation Committee with respect to other participants, each of which may delegate its duties and responsibilities to committees of our directors and/or officers (referred to collectively as the plan administrator), subject to certain limitations that may be imposed under Section 16 of the Securities Exchange Act of 1934 and/or stock exchange rules, as applicable. The plan administrator has the authority to make all determinations and interpretations under, prescribe all forms for use with, and adopt rules for the administration of, the Amended Plan, subject to its express terms and conditions. The plan administrator also sets the terms and conditions of all awards under the Amended Plan, including any vesting and vesting acceleration conditions. LIMITATION ON AWARDS AND SHARES AVAILABLE As of April 1, 2025, there were no shares available for grant under the Prior Plan (assuming the maximum value is earned under outstanding Performance Unit awards and performance-based RSU awards). If this Proposal No. 2 is approved, then an aggregate of 34,259,450 shares of our common