Company: HPP
Filing Date: 2025-04-23
Form Type: DEF 14A
Source: 0001104659-25-038079
Chunk: 57

Company: Hudson Pacific Properties, Inc.
Filing Date: 2025-04-23
Form: DEF 14A
Chunk 57
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 executives to the same stock price fluctuations as our stockholders over a long-term horizon. 2024 alignment between compensation and our financial and TSR performance is highlighted below: • No Payout Earned Under the 2022 Relative TSR Performance Units. Our 2022 Performance Unit program completed its three-year performance period on December 31, 2024 and earned 0% under the relative TSR component. • 40% Reduction to the 2022 Operational Performance Units. Potential payouts under the operational component were reduced by 40% based on our three-year absolute TSR performance. Direct Impact of TSR on CEO Compensation As noted above, our 2022 Performance Unit program completed its three-year performance period on December 31, 2024. For the second consecutive year, the program earned 0% under the relative TSR component and potential payouts under the operational component were reduced by 40%. The following illustrates the earned value of our CEO’s 2022 Performance Unit Award as of December 31, 2024, of which only 9% of the reported grant date value was actually earned at the conclusion of the three-year period (consistent with our pay-for-performance philosophy). 2022 Performance Unit Award January 1, 2022—December 31, 2024 (1) Based on Performance Units earned at 92% of target based on the closing price of the Company’s common stock as of December 31, 2024 of $3.03. Earned units are subject to an additional two-year post vest holding period. (2) Reflects the grant date fair value of our CEO’s 2022 Performance Unit Award as reported in our 2023 Proxy Statement. KEY FEATURES OF OUR EXECUTIVE COMPENSATION PROGRAM Our executive compensation program utilizes a competitive pay-for-performance structure that is designed to: • Attract and retain high-caliber executive officers; • Reward the accomplishment of short-term financial and operational performance objectives and ensure that executive compensation is significantly tied to long-term stockholder returns; and • Motivate strong performance results for long-term stock price growth. Our Compensation Committee continues to proactively monitor and review our compensation program in an effort to ensure that it reflects best practices and ties significant components of pay to performance. Over the years, the Compensation Committee has considered (i) relevant market pay practice at other office REITs, (ii) current best practice in plan design, and (iii) retention and succession planning. 42

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