Hudson Pacific Properties (HPP) Proxy Filing summary

Executive summary

• Achieved nearly 20% year-over-year growth in office leasing, executing 316 new and renewal leases totaling 2.0 million square feet, the highest new leasing activity since 2019.

• Completed major development projects in Los Angeles and Seattle, and advanced a Manhattan studio project set for year-end 2025 delivery.

• Sold non-core office assets for $47.8 million, with proceeds used to reduce leverage, and maintained $518.3 million in liquidity at year-end 2024.

• Implemented cost-cutting initiatives, reducing G&A and studio operating expenses, and maintained preferred stock dividends.

• Issued a sustainability report and received multiple ESG recognitions, including GRESB, ENERGY STAR, and Newsweek awards.

Voting matters and shareholder proposals

• Election of 10 directors to serve until the next annual meeting.

• Approval of the Amended and Restated 2010 Incentive Award Plan, increasing the share reserve by 7,259,450 shares and extending the plan through April 22, 2035.

• Ratification of Ernst & Young LLP as independent registered public accounting firm for fiscal year 2025.

• Advisory approval of executive compensation for fiscal year 2024.

Board of directors and corporate governance

• Board consists of 10 directors, 90% of whom are independent, with annual elections and majority voting in uncontested elections.

• Lead Independent Director presides over executive sessions; board committees are fully independent.

• Board refreshment ongoing, with six new independent directors since 2017; average director tenure is 9.2 years.

• Stockholders have the power to amend bylaws and there is no stockholder rights plan.