Roberto Verrone - Apr 9, 2024 Form 4 Insider Report for Clipper Realty Inc. (CLPR)

Role: Director
Signature: /s/ Roberto Verrone
Stock symbol: CLPR
Transactions as of: Apr 9, 2024
Transactions value $: $0
Form type: 4
Date filed: 5/6/2024, 04:02 PM
Previous filing: Apr 5, 2024

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	CLPR	Common Stock	Options Exercise	$0	+14.1K		$0.00	14.1K	Apr 9, 2024	Direct

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Underlying Class	Amount	Exercise Price	Ownership	Footnotes
transaction	CLPR	Operating Partnership Units(1)	Options Exercise	$0	+14.1K	+265.32%	$0.00	19.4K	Apr 9, 2024	Common Stock	14.1K		Direct	F1

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	Represents limited partnership units ("OP Units") of Clipper Realty L.P. (the "Operating Partnership"), a direct subsidiary of Clipper Realty, Inc. (the "Company"), received by the reporting person in exchange for an equivalent number of vested long term incentive plan units ("LTIP Units"), a class of units of the Operating Partnership. Each OP Unit is redeemable at the request of the holder for cash in an amount equal to the price of a share of common stock of the Company or, at the election of the Company, one share of its common stock. The Company has elected to redeem each OP Unit for one share of its common stock. The rights to convert LTIP Units into OP Units and redeem OP Units do not have expiration dates.

Content

Represents limited partnership units ("OP Units") of Clipper Realty L.P. (the "Operating Partnership"), a direct subsidiary of Clipper Realty, Inc. (the "Company"), received by the reporting person in exchange for an equivalent number of vested long term incentive plan units ("LTIP Units"), a class of units of the Operating Partnership. Each OP Unit is redeemable at the request of the holder for cash in an amount equal to the price of a share of common stock of the Company or, at the election of the Company, one share of its common stock. The Company has elected to redeem each OP Unit for one share of its common stock. The rights to convert LTIP Units into OP Units and redeem OP Units do not have expiration dates.