Hudson Pacific expands incentive plan, stockholders vote

LOS ANGELES, May 16, 2025 – Hudson Pacific Properties, Inc. (NYSE:HPP), currently trading at $2.08 and down nearly 30% year-to-date according to InvestingPro data, announced the approval of an amended incentive plan and the election of directors at its annual meeting on May 14, 2025. The approved Amended and Restated 2010 Incentive Award Plan increases the available shares for issuance and extends the grant award period.

In a recent 8-K filing with the Securities and Exchange Commission, Hudson Pacific Properties detailed the outcomes of its 2025 annual meeting of stockholders. The stockholders voted in favor of the Amended and Restated 2010 Incentive Award Plan, which now allows for an additional 7,259,450 shares of common stock to be issued under the plan, including the same number for incentive stock options. This amendment also extends the ability to grant awards through April 22, 2035.

Furthermore, the stockholders elected ten directors to the Board, each set to serve until the next annual meeting in 2026 or until their successors are duly elected and qualified. The directors were elected without any broker non-votes, a sign of unanimous support from voting shareholders.

Additionally, the appointment of Ernst & Young LLP as the company’s independent registered public accounting firm for the fiscal year 2025 was ratified. However, the advisory resolution on executive compensation was not approved by the stockholders.

The company, a real estate investment trust focusing on owning, operating, and acquiring office and media entertainment properties, has made these changes as part of its ongoing efforts to align the interests of its employees and directors with those of its stockholders. With a market capitalization of $307 million and an InvestingPro Financial Health Score rated as WEAK, the company maintains a significant 9.39% dividend yield and has consistently paid dividends for 15 consecutive years.

The details of the Amended and Restated 2010 Plan are included in the company’s definitive proxy statement filed on April 23, 2025. The complete text of the Amended and Restated 2010 Plan was filed as an exhibit to the company’s recent 8-K filing and is incorporated by reference.

This news is based on a press release statement and provides a factual summary of the key points from Hudson Pacific Properties’ SEC filing. According to InvestingPro analysis, the stock is currently trading below its Fair Value, with 12 additional exclusive ProTips and comprehensive financial metrics available to subscribers. For detailed insights into HPP’s valuation and future prospects, access the full Pro Research Report, part of InvestingPro’s coverage of over 1,400 US stocks.

In other recent news, Hudson Pacific Properties Inc reported its first-quarter 2025 earnings, revealing an earnings per share (EPS) of -0.53 USD, which fell short of the anticipated -0.45 USD. The company’s revenue also missed forecasts, coming in at 198.5 million USD compared to the expected 202.31 million USD. This marks a decline from the previous year’s first-quarter revenue of 214 million USD. Despite these earnings and revenue misses, Hudson (NYSE:HUD) Pacific secured 475 million USD in commercial mortgage-backed securities (CMBS) financing for its office properties. The company is aiming to enhance its liquidity by targeting 125-150 million USD in non-core asset sales.

Analyst firms have not publicly adjusted their ratings on Hudson Pacific following these results. The company also announced plans to reduce annual expenses by 14.2 million USD. Looking forward, Hudson Pacific anticipates its second-quarter funds from operations (FFO) to range between 0.03 and 0.07 USD per diluted share. The company remains optimistic about stabilizing occupancy by the third quarter and continues to focus on leasing activity and cost-cutting measures to improve financial performance.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.