Company: CLPR
Filing Date: 2025-04-30
Form Type: DEF 14A
Source: 0001437749-25-013840
Chunk: 20

Company: Clipper Realty Inc.
Filing Date: 2025-04-30
Form: DEF 14A
Chunk 20
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 Public Company Accounting Oversight Board and the SEC. The Audit Committee has also received the written disclosures and the letter from the independent registered public accounting firm required by applicable requirements of the Public Company Accounting Oversight Board regarding the independent accountant’s communications with the Audit Committee concerning independence. The Audit Committee discussed with the independent registered public accounting firm, its independence from the Company, and considered the compatibility of non-audit services, if any, with its independence.

Based upon the reviews and discussions referred to in the foregoing paragraphs, the Audit Committee recommended to the Board that the audited financial statements be included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2024 for filing with the Securities and Exchange Commission.

| Howard M. Lorber - Chairman |
| Richard N. Burger           |
| Harmon S. Spolan            |

<div align='center'>19

CORPORATE GOVERNANCE

GOVERNANCE DOCUMENTS</div>

Our Audit Committee, Compensation Committee, Nominating and Corporate Governance Committee and Investment Committee charters, along with our Code of Business Conduct and Ethics and our Corporate Governance Guidelines, are available on the Investors section of our website at www.clipperrealty.com. In accordance with the Corporate Governance Guidelines, the Board and each of the Audit Committee, Compensation Committee and Nominating and Corporate Governance Committee conducts an annual performance self-assessment with the purpose of increasing the effectiveness of the Board and its committees. The Company’s website address provided above and elsewhere in this Proxy Statement is not intended to function as a hyperlink, and the information on the Company’s website is not and should not be considered part of this Proxy Statement and is not incorporated by reference herein.

<div align='center'>CODE OF BUSINESS CONDUCT AND ETHICS</div>

Our Board formally approved a Code of Business Conduct and Ethics that applies to our officers, directors and employees. Among other matters, our Code of Business Conduct and Ethics is designed to deter wrongdoing and to:

| ● | promote honest and ethical conduct, including the ethical handling of conflicts of interest; |

| ● | promote full, fair, accurate, timely and understandable disclosure in our SEC reports and other public communications; |

| ● | promote compliance with applicable governmental laws, rules and regulations; and |

| ● | ensure protection of the Company’s legitimate business interests, including corporate opportunities, assets and confidential information. |

Any waiver of the Code of Business Conduct and Ethics for our directors or executive officers must be approved by the Board, and any such waiver shall be promptly disclosed as