Hudson Pacific Properties Executives Forfeit 2024 Performance Awards, Saving $14.3 Million in G&A Costs

Reuters
19 Jun
<a href="https://laohu8.com/S/HPP">Hudson Pacific Properties</a> Executives Forfeit 2024 Performance Awards, Saving $14.3 Million in G&A Costs

Hudson Pacific Properties Inc. has announced changes to its executive compensation plan, with the company's top executives forfeiting their 2024 performance unit equity awards. CEO Victor Coleman, President Mark Lammas, and CFO Harout Diramerian will be impacted by this decision. The move is set to generate a total of $14.3 million in general and administrative savings, with approximately $4.9 million of these savings to be realized in 2025. The remaining savings will be distributed over the following three years.

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