Company: CLPR
Filing Date: 2025-04-30
Form Type: DEF 14A
Source: 0001437749-25-013840
Chunk: 15

Company: Clipper Realty Inc.
Filing Date: 2025-04-30
Form: DEF 14A
Chunk 15
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='center'>Recommendation of the Board of Directors:

OUR BOARD OF DIRECTORS UNANIMOUSLY RECOMMENDS A VOTE“FOR”

THE ELECTION OF THE SEVEN NOMINEES NAMED ABOVE.

14

INFORMATION ABOUT THE BOARD

BOARD STRUCTURE AND LEADERSHIP</div>

We have structured our corporate governance in a manner that we believe closely aligns our interests with those of our stockholders. Notable features of our corporate governance structure include the following:

| ● | our Board is not classified, with each of our directors subject to re-election annually; |

| ● | of the seven persons who serve on our Board, our Board has determined that four, or 57%, satisfy the listing standards for independence of the NYSE; |

| ● | three of our directors qualify as an “audit committee financial expert” as defined by the SEC; and |

| ● | we do not have a stockholder rights plan. |

Our directors stay informed about our business by attending meetings of our Board and its committees, and through supplemental reports and communications.

Our Board is currently co-chaired by David Bistricer, our Chief Executive Officer, and Sam Levinson. Our Board believes that Mr. Bistricer’s service as our Chief Executive Officer and our Co-Chairman, as well as Messrs. Bistricer and Levinson’s service as our Co-Chairmen is in the best interests of our Company and our stockholders, because they possess detailed and in-depth knowledge of the issues, opportunities and challenges we face, and because they are best positioned to develop agendas that ensure that our Board’s time and attention is focused on the most critical matters. Our Board believes that their respective roles enable decisive leadership, ensure clear accountability and enhance our ability to communicate our message and strategy clearly and consistently to stockholders, employees and tenants.

<div align='center'>EXECUTIVE SESSIONS OF NON-MANAGEMENT DIRECTORS</div>

Our non-management directors meet or are offered the opportunity to meet without management present each time the full Board or a Board committee convenes for a regularly scheduled meeting. If the Board convenes for a special meeting, the non-management directors will meet in executive session if circumstances warrant. We currently do not have a lead independent director. Our independent directors have selected Mr. Lorber to preside over executive sessions of the Board.

The Board welcomes communications from stockholders. To communicate with our independent directors, please refer to the information set forth under the heading “Corporate