CLPR

SEC source: 0001539497-26-002629 · ownership.xml · nonDerivative · entry 3

Levinson Sam · CIK 0001588901 · Director · 10% owner

10b5-1 filing: No plan indicated

Ownership: Indirect · By The Moric Bistricer 2016 Family Trust FBO Michelle Levinson

Disclosed balance after: 1,069,514.5

F3 · security: Special Voting Stock is a class of stock of the Issuer that does not share in any distribution to stockholders of the Issuer, but gives the holder thereof one vote per share on all matters on which the Issuer's holders of Common Stock vote, subject to certain exceptions. Holders of shares of Special Voting Stock own such shares by virtue of their ownership of Class B LLC Units of certain limited liability companies that are indirect subsidiaries of the Issuer, with which Units the shares of Special Voting Stock are paired on a one-to-one basis. Each Class B LLC Unit is exchangeable, together with one share of Special Voting Stock, for an amount of cash equal to the fair market value of a share of Common Stock of the Issuer or, at the election of the Issuer, one share of Common Stock. The right to exchange Class B LLC Units, together with Special Voting Stock, does not have an expiration date.

F2 · kind: Represents an assignment of securities for no consideration to a trust in which the Reporting Person is trustee. The Reporting Person disclaims beneficial ownership of the reported securities held by the trust except to the extent of his pecuniary interest therein.

SEC source: 0001539497-26-002629 · ownership.xml · nonDerivative · entry 2

Levinson Sam · CIK 0001588901 · Director · 10% owner

10b5-1 filing: No plan indicated

Ownership: Indirect · By The Moric Bistricer 2014 Trust FBO Michelle Levinson

Disclosed balance after: 693,125

F3 · security: Special Voting Stock is a class of stock of the Issuer that does not share in any distribution to stockholders of the Issuer, but gives the holder thereof one vote per share on all matters on which the Issuer's holders of Common Stock vote, subject to certain exceptions. Holders of shares of Special Voting Stock own such shares by virtue of their ownership of Class B LLC Units of certain limited liability companies that are indirect subsidiaries of the Issuer, with which Units the shares of Special Voting Stock are paired on a one-to-one basis. Each Class B LLC Unit is exchangeable, together with one share of Special Voting Stock, for an amount of cash equal to the fair market value of a share of Common Stock of the Issuer or, at the election of the Issuer, one share of Common Stock. The right to exchange Class B LLC Units, together with Special Voting Stock, does not have an expiration date.

F2 · kind: Represents an assignment of securities for no consideration to a trust in which the Reporting Person is trustee. The Reporting Person disclaims beneficial ownership of the reported securities held by the trust except to the extent of his pecuniary interest therein.

SEC source: 0001539497-26-002629 · ownership.xml · nonDerivative · entry 1

Levinson Sam · CIK 0001588901 · Director · 10% owner

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 270,557

F1 · kind: Represents an assignment of securities to the Reporting Person for no consideration.

SEC source: 0001437749-26-031939 · rdgdoc.xml · nonDerivative · entry 5

BISTRICER DAVID · CIK 0001107706 · Director · Co-Chairman and CEO

10b5-1 filing: No plan indicated

Ownership: Indirect · See footnote

Disclosed balance after: 0

F6 · ownership.nature: Represents a pro-rata distribution of 318,262 shares of Common Stock from the Moric Bistricer 2012 Family Trust, for which the reporting person is one of two trustees, for no consideration, to its beneficiaries. Following the distribution, the reporting person no longer holds any voting, investment, or pecuniary interest in the distributed shares, and ceases to be a beneficial owner of such securities.

SEC source: 0001437749-26-031939 · rdgdoc.xml · nonDerivative · entry 4

BISTRICER DAVID · CIK 0001107706 · Director · Co-Chairman and CEO

10b5-1 filing: No plan indicated

Ownership: Indirect · See footnote

Disclosed balance after: 0

F5 · ownership.nature: Represents a pro-rata distribution of 348,933 shares of Common Stock from the Moric Bistricer 2016 Family Trust, for no consideration, to its beneficiaries. Following the distribution, the reporting person no longer holds any voting, investment, or pecuniary interest in the distributed shares, and ceases to be a beneficial owner of such securities.

SEC source: 0001437749-26-031939 · rdgdoc.xml · nonDerivative · entry 3

BISTRICER DAVID · CIK 0001107706 · Director · Co-Chairman and CEO

10b5-1 filing: No plan indicated

Ownership: Indirect · See Footnote

Disclosed balance after: 1,069,515

F2 · security: Special Voting Stock is a class of stock of the Issuer that does not share in any distribution to stockholders of the Issuer, but gives the holder thereof one vote per share on all matters on which the Issuer's holders of Common Stock vote, subject to certain exceptions. Holders of shares of Special Voting Stock own such shares by virtue of their ownership of Class B LLC Units of certain limited liability companies that are indirect subsidiaries of the Issuer, with which Units the shares of Special Voting Stock are paired on a one-to-one basis. Each Class B LLC Unit is exchangeable, together with one share of Special Voting Stock, for an amount of cash equal to the fair market value of a share of Common Stock of the Issuer or, at the election of the Issuer, one share of Common Stock. The right to exchange Class B LLC Units, together with Special Voting Stock, does not have an expiration date.

F2 · ownership.nature: Special Voting Stock is a class of stock of the Issuer that does not share in any distribution to stockholders of the Issuer, but gives the holder thereof one vote per share on all matters on which the Issuer's holders of Common Stock vote, subject to certain exceptions. Holders of shares of Special Voting Stock own such shares by virtue of their ownership of Class B LLC Units of certain limited liability companies that are indirect subsidiaries of the Issuer, with which Units the shares of Special Voting Stock are paired on a one-to-one basis. Each Class B LLC Unit is exchangeable, together with one share of Special Voting Stock, for an amount of cash equal to the fair market value of a share of Common Stock of the Issuer or, at the election of the Issuer, one share of Common Stock. The right to exchange Class B LLC Units, together with Special Voting Stock, does not have an expiration date.

F4 · ownership.nature: Represents a pro-rata distribution of 4,278,058 shares of Special Voting Stock from the Moric Bistricer 2016 Family Trust, for no consideration, to its beneficiaries. The reporting person share of 1,069,515 shares of Special Voting Stock was transferred directly to the Moric Bistricer 2016 Family Trust FBO David Bistrcier, as the beneficiary of the trust. This transfer represents a change in the form of beneficial ownership from one indirect form to another indirect form. The remaining 3,208,543 shares of Special Voting Stock were distributed to other beneficiaries and represent a disposition of beneficial ownership by the reporting person. The reporting person serves as a co-trustee of the FBO Trust alongside an independent trustee and shares voting and investment power over the shares held by the FBO Trust.

SEC source: 0001437749-26-031939 · rdgdoc.xml · nonDerivative · entry 2

BISTRICER DAVID · CIK 0001107706 · Director · Co-Chairman and CEO

10b5-1 filing: No plan indicated

Ownership: Indirect · See Footnote

Disclosed balance after: 0

F2 · security: Special Voting Stock is a class of stock of the Issuer that does not share in any distribution to stockholders of the Issuer, but gives the holder thereof one vote per share on all matters on which the Issuer's holders of Common Stock vote, subject to certain exceptions. Holders of shares of Special Voting Stock own such shares by virtue of their ownership of Class B LLC Units of certain limited liability companies that are indirect subsidiaries of the Issuer, with which Units the shares of Special Voting Stock are paired on a one-to-one basis. Each Class B LLC Unit is exchangeable, together with one share of Special Voting Stock, for an amount of cash equal to the fair market value of a share of Common Stock of the Issuer or, at the election of the Issuer, one share of Common Stock. The right to exchange Class B LLC Units, together with Special Voting Stock, does not have an expiration date.

F2 · ownership.nature: Special Voting Stock is a class of stock of the Issuer that does not share in any distribution to stockholders of the Issuer, but gives the holder thereof one vote per share on all matters on which the Issuer's holders of Common Stock vote, subject to certain exceptions. Holders of shares of Special Voting Stock own such shares by virtue of their ownership of Class B LLC Units of certain limited liability companies that are indirect subsidiaries of the Issuer, with which Units the shares of Special Voting Stock are paired on a one-to-one basis. Each Class B LLC Unit is exchangeable, together with one share of Special Voting Stock, for an amount of cash equal to the fair market value of a share of Common Stock of the Issuer or, at the election of the Issuer, one share of Common Stock. The right to exchange Class B LLC Units, together with Special Voting Stock, does not have an expiration date.

F4 · ownership.nature: Represents a pro-rata distribution of 4,278,058 shares of Special Voting Stock from the Moric Bistricer 2016 Family Trust, for no consideration, to its beneficiaries. The reporting person share of 1,069,515 shares of Special Voting Stock was transferred directly to the Moric Bistricer 2016 Family Trust FBO David Bistrcier, as the beneficiary of the trust. This transfer represents a change in the form of beneficial ownership from one indirect form to another indirect form. The remaining 3,208,543 shares of Special Voting Stock were distributed to other beneficiaries and represent a disposition of beneficial ownership by the reporting person. The reporting person serves as a co-trustee of the FBO Trust alongside an independent trustee and shares voting and investment power over the shares held by the FBO Trust.

SEC source: 0001437749-26-031939 · rdgdoc.xml · nonDerivative · entry 1

BISTRICER DAVID · CIK 0001107706 · Director · Co-Chairman and CEO

10b5-1 filing: No plan indicated

Ownership: Indirect · See footnote

Disclosed balance after: 693,125

F2 · security: Special Voting Stock is a class of stock of the Issuer that does not share in any distribution to stockholders of the Issuer, but gives the holder thereof one vote per share on all matters on which the Issuer's holders of Common Stock vote, subject to certain exceptions. Holders of shares of Special Voting Stock own such shares by virtue of their ownership of Class B LLC Units of certain limited liability companies that are indirect subsidiaries of the Issuer, with which Units the shares of Special Voting Stock are paired on a one-to-one basis. Each Class B LLC Unit is exchangeable, together with one share of Special Voting Stock, for an amount of cash equal to the fair market value of a share of Common Stock of the Issuer or, at the election of the Issuer, one share of Common Stock. The right to exchange Class B LLC Units, together with Special Voting Stock, does not have an expiration date.

F2 · ownership.nature: Special Voting Stock is a class of stock of the Issuer that does not share in any distribution to stockholders of the Issuer, but gives the holder thereof one vote per share on all matters on which the Issuer's holders of Common Stock vote, subject to certain exceptions. Holders of shares of Special Voting Stock own such shares by virtue of their ownership of Class B LLC Units of certain limited liability companies that are indirect subsidiaries of the Issuer, with which Units the shares of Special Voting Stock are paired on a one-to-one basis. Each Class B LLC Unit is exchangeable, together with one share of Special Voting Stock, for an amount of cash equal to the fair market value of a share of Common Stock of the Issuer or, at the election of the Issuer, one share of Common Stock. The right to exchange Class B LLC Units, together with Special Voting Stock, does not have an expiration date.

F3 · ownership.nature: Represents the acquisition of 693,125 shares of Special Voting Stock that were distributed from The Moric Bistricer 2014 Trust to The Moric Bistricer 2014 Trust FBO David Bistricer Trust for no consideration, as the beneficiary of the trust. The reporting person serves as a co-trustee of the FBO Trust alongside an independent trustee and shares voting and investment power over the shares held by the FBO Trust.

SEC source: 0001437749-26-031626 · rdgdoc.xml · nonDerivative · entry 2

Bistricer Jacob · CIK 0001697378 · Chief Operating Officer

10b5-1 filing: No plan indicated

Ownership: Indirect · As custodian for his children and a grandchild

Disclosed balance after: 63,000

SEC source: 0001437749-26-031626 · rdgdoc.xml · nonDerivative · entry 1

Bistricer Jacob · CIK 0001697378 · Chief Operating Officer

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 73,500

F1 · price: The price is the weighted average price for the acquisitions reported on this Form 4. The range of prices for the transactions reported on this Form 4 is between $3.265 and $3.42 per share. Complete information regarding the number of shares purchased at each separate price will be provided upon request by Commission Staff, the Issuer or a security holder of the Issuer.

SEC source: 0001539497-26-002601 · ownership.xml · nonDerivative · entry 2

Levinson Sam · CIK 0001588901 · Director · 10% owner

10b5-1 filing: No plan indicated

Ownership: Indirect · By Starburst 2016 II LLC, a Delaware limited liability company

Disclosed balance after: 411,021

F2 · price: The price is the weighted average price for the acquisitions reported on this Form 4. The range of prices for the transactions reported on this Form 4 is between $3.365 and $3.38 per share. Complete information regarding the number of shares purchased at each separate price will be provided upon request by Commission Staff, the Issuer or a security holder of the Issuer.

SEC source: 0001539497-26-002601 · ownership.xml · nonDerivative · entry 1

Levinson Sam · CIK 0001588901 · Director · 10% owner

10b5-1 filing: No plan indicated

Ownership: Indirect · By Starburst 2016 II LLC, a Delaware limited liability company

Disclosed balance after: 401,704

F1 · price: The price is the weighted average price for the acquisitions reported on this Form 4. The range of prices for the transactions reported on this Form 4 is between $3.35 and $3.39 per share. Complete information regarding the number of shares purchased at each separate price will be provided upon request by Commission Staff, the Issuer or a security holder of the Issuer.

SEC source: 0001539497-26-002522 · ownership.xml · nonDerivative · entry 2

Levinson Sam · CIK 0001588901 · Director · 10% owner

10b5-1 filing: No plan indicated

Ownership: Indirect · By Starburst 2016 II LLC, a Delaware limited liability company

Disclosed balance after: 388,098

SEC source: 0001539497-26-002522 · ownership.xml · nonDerivative · entry 1

Levinson Sam · CIK 0001588901 · Director · 10% owner

10b5-1 filing: No plan indicated

Ownership: Indirect · By Starburst 2016 II LLC, a Delaware limited liability company

Disclosed balance after: 383,783

F1 · price: The price is the weighted average price for the acquisitions reported on this Form 4. The range of prices for the transactions reported on this Form 4 is between $3.2175 and $3.28 per share. Complete information regarding the number of shares purchased at each separate price will be provided upon request by Commission Staff, the Issuer or a security holder of the Issuer.

SEC source: 0001539497-26-002474 · ownership.xml · nonDerivative · entry 2

Levinson Sam · CIK 0001588901 · Director · 10% owner

10b5-1 filing: No plan indicated

Ownership: Indirect · By Starburst 2016 II LLC, a Delaware limited liability company

Disclosed balance after: 379,014

F2 · price: The price is the weighted average price for the acquisitions reported on this Form 4. The range of prices for the transactions reported on this Form 4 is between $3.29 and $3.32 per share. Complete information regarding the number of shares purchased at each separate price will be provided upon request by Commission Staff, the Issuer or a security holder of the Issuer.

SEC source: 0001539497-26-002474 · ownership.xml · nonDerivative · entry 1

Levinson Sam · CIK 0001588901 · Director · 10% owner

10b5-1 filing: No plan indicated

Ownership: Indirect · By Starburst 2016 II LLC, a Delaware limited liability company

Disclosed balance after: 268,304

F1 · price: The price is the weighted average price for the acquisitions reported on this Form 4. The range of prices for the transactions reported on this Form 4 is between $3.22 and $3.25 per share. Complete information regarding the number of shares purchased at each separate price will be provided upon request by Commission Staff, the Issuer or a security holder of the Issuer.

SEC source: 0001539497-26-002446 · ownership.xml · nonDerivative · entry 3

Levinson Sam · CIK 0001588901 · Director · 10% owner

10b5-1 filing: No plan indicated

Ownership: Indirect · By Starburst 2016 II LLC, a Delaware limited liability company

Disclosed balance after: 261,462

F3 · price: The price is the weighted average price for the acquisitions reported on this Form 4. The range of prices for the transactions reported on this Form 4 is between $3.225 and $3.25 per share. Complete information regarding the number of shares purchased at each separate price will be provided upon request by Commission Staff, the Issuer or a security holder of the Issuer.

SEC source: 0001539497-26-002446 · ownership.xml · nonDerivative · entry 2

Levinson Sam · CIK 0001588901 · Director · 10% owner

10b5-1 filing: No plan indicated

Ownership: Indirect · By Starburst 2016 II LLC, a Delaware limited liability company

Disclosed balance after: 256,075

F2 · price: The price is the weighted average price for the acquisitions reported on this Form 4. The range of prices for the transactions reported on this Form 4 is between $3.19 and $3.20 per share. Complete information regarding the number of shares purchased at each separate price will be provided upon request by Commission Staff, the Issuer or a security holder of the Issuer.

SEC source: 0001539497-26-002446 · ownership.xml · nonDerivative · entry 1

Levinson Sam · CIK 0001588901 · Director · 10% owner

10b5-1 filing: No plan indicated

Ownership: Indirect · By Starburst 2016 II LLC, a Delaware limited liability company

Disclosed balance after: 255,141

F1 · price: The price is the weighted average price for the acquisitions reported on this Form 4. The range of prices for the transactions reported on this Form 4 is between $3.245 and $3.25 per share. Complete information regarding the number of shares purchased at each separate price will be provided upon request by Commission Staff, the Issuer or a security holder of the Issuer.

SEC source: 0001539497-26-002324 · ownership.xml · nonDerivative · entry 3

Levinson Sam · CIK 0001588901 · Director · 10% owner

10b5-1 filing: No plan indicated

Ownership: Indirect · By Starburst 2016 II LLC, a Delaware limited liability company

Disclosed balance after: 253,399

SEC source: 0001539497-26-002324 · ownership.xml · nonDerivative · entry 2

Levinson Sam · CIK 0001588901 · Director · 10% owner

10b5-1 filing: No plan indicated

Ownership: Indirect · By Starburst 2016 II LLC, a Delaware limited liability company

Disclosed balance after: 251,007

F2 · price: The price is the weighted average price for the acquisitions reported on this Form 4. The range of prices for the transactions reported on this Form 4 is between $3.08 and $3.17 per share. Complete information regarding the number of shares purchased at each separate price will be provided upon request by Commission Staff, the Issuer or a security holder of the Issuer.

SEC source: 0001539497-26-002324 · ownership.xml · nonDerivative · entry 1

Levinson Sam · CIK 0001588901 · Director · 10% owner

10b5-1 filing: No plan indicated

Ownership: Indirect · By Starburst 2016 II LLC, a Delaware limited liability company

Disclosed balance after: 241,747

F1 · price: The price is the weighted average price for the acquisitions reported on this Form 4. The range of prices for the transactions reported on this Form 4 is between $3.12 and $3.18 per share. Complete information regarding the number of shares purchased at each separate price will be provided upon request by Commission Staff, the Issuer or a security holder of the Issuer.

SEC source: 0001539497-26-002267 · ownership.xml · nonDerivative · entry 3

Levinson Sam · CIK 0001588901 · Director · 10% owner

10b5-1 filing: No plan indicated

Ownership: Indirect · By Starburst 2016 II LLC, a Delaware limited liability company

Disclosed balance after: 154,764

F3 · price: The price is the weighted average price for the acquisitions reported on this Form 4. The range of prices for the transactions reported on this Form 4 is between $3.27 and $3.35 per share. Complete information regarding the number of shares purchased at each separate price will be provided upon request by Commission Staff, the Issuer or a security holder of the Issuer.

SEC source: 0001539497-26-002267 · ownership.xml · nonDerivative · entry 2

Levinson Sam · CIK 0001588901 · Director · 10% owner

10b5-1 filing: No plan indicated

Ownership: Indirect · By Starburst 2016 II LLC, a Delaware limited liability company

Disclosed balance after: 150,819

F2 · price: The price is the weighted average price for the acquisitions reported on this Form 4. The range of prices for the transactions reported on this Form 4 is between $3.20 and $3.29 per share. Complete information regarding the number of shares purchased at each separate price will be provided upon request by Commission Staff, the Issuer or a security holder of the Issuer.

SEC source: 0001539497-26-002267 · ownership.xml · nonDerivative · entry 1

Levinson Sam · CIK 0001588901 · Director · 10% owner

10b5-1 filing: No plan indicated

Ownership: Indirect · By Starburst 2016 II LLC, a Delaware limited liability company

Disclosed balance after: 69,172

F1 · price: The price is the weighted average price for the acquisitions reported on this Form 4. The range of prices for the transactions reported on this Form 4 is between $2.99 and $3.15 per share. Complete information regarding the number of shares purchased at each separate price will be provided upon request by Commission Staff, the Issuer or a security holder of the Issuer.

SEC source: 0001437749-26-007796 · rdgdoc.xml · derivative · entry 2

Verrone Roberto Angelo · CIK 0001697249 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 7,961

Underlying: Common Stock · 11,020 shares

Expires not disclosed

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F1 · security: 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.

F1 · derivative.exercise_price: 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.

F1 · derivative.exercise_date: 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.

F1 · derivative.expiration_date: 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.

SEC source: 0001437749-26-007796 · rdgdoc.xml · nonDerivative · entry 1

Verrone Roberto Angelo · CIK 0001697249 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 26,999

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

SEC source: 0001437749-26-005940 · rdgdoc.xml · derivative · entry 1

Verrone Roberto Angelo · CIK 0001697249 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 18,981

Underlying: Common Stock · 7,961 shares

Expires not disclosed

F1 · security: Represents long term incentive plan units ("LTIP Units"), a class of units of Clipper Realty L.P. (the "Operating Partnership"), a direct subsidiary of Clipper Realty Inc. (the "Company"). The LTIP Units are convertible by the reporting person, upon the vesting date, into an equivalent number of units of limited partnership units ("OP 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.

F2 · derivative.exercise_price: The LTIP Units will vest 25% on each of March 31, 2026, June 30, 2026, September 30, 2026 and December 31, 2026. The rights to convert LTIP Units into OP Units and redeem OP Units do not have expiration dates.

F2 · derivative.exercise_date: The LTIP Units will vest 25% on each of March 31, 2026, June 30, 2026, September 30, 2026 and December 31, 2026. The rights to convert LTIP Units into OP Units and redeem OP Units do not have expiration dates.

F2 · derivative.expiration_date: The LTIP Units will vest 25% on each of March 31, 2026, June 30, 2026, September 30, 2026 and December 31, 2026. The rights to convert LTIP Units into OP Units and redeem OP Units do not have expiration dates.

SEC source: 0001437749-26-005939 · rdgdoc.xml · derivative · entry 1

Ivanhoe Robert Jay · CIK 0001697445 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 34,960

Underlying: Common Stock · 7,961 shares

Expires not disclosed

F1 · security: Represents long term incentive plan units ("LTIP Units"), a class of units of Clipper Realty L.P. (the "Operating Partnership"), a direct subsidiary of Clipper Realty Inc. (the "Company"). The LTIP Units are convertible by the reporting person, upon the vesting date, into an equivalent number of units of limited partnership units ("OP 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.

F2 · derivative.exercise_price: The LTIP Units will vest 25% on each of March 31, 2026, June 30, 2026, September 30, 2026 and December 31, 2026. The rights to convert LTIP Units into OP Units and redeem OP Units do not have expiration dates.

F2 · derivative.exercise_date: The LTIP Units will vest 25% on each of March 31, 2026, June 30, 2026, September 30, 2026 and December 31, 2026. The rights to convert LTIP Units into OP Units and redeem OP Units do not have expiration dates.

F2 · derivative.expiration_date: The LTIP Units will vest 25% on each of March 31, 2026, June 30, 2026, September 30, 2026 and December 31, 2026. The rights to convert LTIP Units into OP Units and redeem OP Units do not have expiration dates.

SEC source: 0001437749-26-005938 · rdgdoc.xml · derivative · entry 1

Burger Richard N · CIK 0001391524 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 33,293

Underlying: Common Stock · 7,961 shares

Expires not disclosed

F1 · security: Represents long term incentive plan units ("LTIP Units"), a class of units of Clipper Realty L.P. (the "Operating Partnership"), a direct subsidiary of Clipper Realty Inc. (the "Company"). The LTIP Units are convertible by the reporting person, upon the vesting date, into an equivalent number of units of limited partnership units ("OP 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.

F2 · derivative.exercise_price: The LTIP Units will vest 25% on each of March 31, 2026, June 30, 2026, September 30, 2026 and December 31, 2026. The rights to convert LTIP Units into OP Units and redeem OP Units do not have expiration dates.

F2 · derivative.exercise_date: The LTIP Units will vest 25% on each of March 31, 2026, June 30, 2026, September 30, 2026 and December 31, 2026. The rights to convert LTIP Units into OP Units and redeem OP Units do not have expiration dates.

F2 · derivative.expiration_date: The LTIP Units will vest 25% on each of March 31, 2026, June 30, 2026, September 30, 2026 and December 31, 2026. The rights to convert LTIP Units into OP Units and redeem OP Units do not have expiration dates.

SEC source: 0001437749-26-005936 · rdgdoc.xml · derivative · entry 1

SCHWIMMER JACOB · CIK 0001697489 · Chief Property Mgmt Officer

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 1,172,938

Underlying: Common Stock · 76,637 shares

Expires not disclosed

F1 · security: Represents long term incentive plan units ("LTIP Units"), a class of units of Clipper Realty L.P. (the "Operating Partnership"), a direct subsidiary of Clipper Realty Inc. (the "Company"). The LTIP Units are convertible by the reporting person, upon the vesting date, into an equivalent number of units of limited partnership units ("OP 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.

F2 · derivative.exercise_price: The LTIP Units will vest in full on January 1, 2029. The rights to convert LTIP Units into OP Units and redeem OP Units do not have expiration dates.

F2 · derivative.exercise_date: The LTIP Units will vest in full on January 1, 2029. The rights to convert LTIP Units into OP Units and redeem OP Units do not have expiration dates.

F2 · derivative.expiration_date: The LTIP Units will vest in full on January 1, 2029. The rights to convert LTIP Units into OP Units and redeem OP Units do not have expiration dates.

SEC source: 0001437749-26-005934 · rdgdoc.xml · derivative · entry 1

LORBER HOWARD M · CIK 0001053471 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 34,960

Underlying: Common Stock · 7,961 shares

Expires not disclosed

F1 · security: Represents long term incentive plan units ("LTIP Units"), a class of units of Clipper Realty L.P. (the "Operating Partnership"), a direct subsidiary of Clipper Realty Inc. (the "Company"). The LTIP Units are convertible by the reporting person, upon the vesting date, into an equivalent number of units of limited partnership units ("OP 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.

F2 · derivative.exercise_price: The LTIP Units will vest 25% on each of March 31, 2026, June 30, 2026, September 30, 2026 and December 31, 2026. The rights to convert LTIP Units into OP Units and redeem OP Units do not have expiration dates.

F2 · derivative.exercise_date: The LTIP Units will vest 25% on each of March 31, 2026, June 30, 2026, September 30, 2026 and December 31, 2026. The rights to convert LTIP Units into OP Units and redeem OP Units do not have expiration dates.

F2 · derivative.expiration_date: The LTIP Units will vest 25% on each of March 31, 2026, June 30, 2026, September 30, 2026 and December 31, 2026. The rights to convert LTIP Units into OP Units and redeem OP Units do not have expiration dates.

SEC source: 0001437749-26-005932 · rdgdoc.xml · derivative · entry 2

BISTRICER DAVID · CIK 0001107706 · Director · Co-Chairman and CEO · 10% owner

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 1,788,525

Underlying: Common Stock · 164,003 shares

Expires not disclosed

F1 · security: Represents long term incentive plan units ("LTIP Units"), a class of units of Clipper Realty L.P. (the "Operating Partnership"), a direct subsidiary of Clipper Realty Inc. (the "Company"). The LTIP Units are convertible by the reporting person, upon the vesting date, into an equivalent number of units of limited partnership units ("OP 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.

F3 · derivative.exercise_price: The LTIP Units will vest in full on January 1, 2029. The rights to convert LTIP Units into OP Units and redeem OP Units do not have expiration dates.

F3 · derivative.exercise_date: The LTIP Units will vest in full on January 1, 2029. The rights to convert LTIP Units into OP Units and redeem OP Units do not have expiration dates.

F3 · derivative.expiration_date: The LTIP Units will vest in full on January 1, 2029. The rights to convert LTIP Units into OP Units and redeem OP Units do not have expiration dates.

SEC source: 0001437749-26-005932 · rdgdoc.xml · derivative · entry 1

BISTRICER DAVID · CIK 0001107706 · Director · Co-Chairman and CEO · 10% owner

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 1,624,522

Underlying: Common Stock · 91,964 shares

Expires not disclosed

F1 · security: Represents long term incentive plan units ("LTIP Units"), a class of units of Clipper Realty L.P. (the "Operating Partnership"), a direct subsidiary of Clipper Realty Inc. (the "Company"). The LTIP Units are convertible by the reporting person, upon the vesting date, into an equivalent number of units of limited partnership units ("OP 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.

F2 · derivative.exercise_price: The LTIP Units will vest in full on January 1, 2027. The rights to convert LTIP Units into OP Units and redeem OP Units do not have expiration dates.

F2 · derivative.exercise_date: The LTIP Units will vest in full on January 1, 2027. The rights to convert LTIP Units into OP Units and redeem OP Units do not have expiration dates.

F2 · derivative.expiration_date: The LTIP Units will vest in full on January 1, 2027. The rights to convert LTIP Units into OP Units and redeem OP Units do not have expiration dates.

SEC source: 0001437749-26-005935 · rdgdoc.xml · derivative · entry 1

Bistricer Jacob · CIK 0001697378 · Chief Operating Officer

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 1,622,579

Underlying: Common Stock · 76,637 shares

Expires not disclosed

F1 · security: Represents long term incentive plan units ("LTIP Units"), a class of units of Clipper Realty L.P. (the "Operating Partnership"), a direct subsidiary of Clipper Realty Inc. (the "Company"). The LTIP Units are convertible by the reporting person, upon the vesting date, into an equivalent number of units of limited partnership units ("OP 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.

F2 · derivative.exercise_price: The LTIP Units will vest in full on January 1, 2029. The rights to convert LTIP Units into OP Units and redeem OP Units do not have expiration dates.

F2 · derivative.exercise_date: The LTIP Units will vest in full on January 1, 2029. The rights to convert LTIP Units into OP Units and redeem OP Units do not have expiration dates.

F2 · derivative.expiration_date: The LTIP Units will vest in full on January 1, 2029. The rights to convert LTIP Units into OP Units and redeem OP Units do not have expiration dates.

SEC source: 0001437749-26-005941 · rdgdoc.xml · derivative · entry 2

Levinson Sam · CIK 0001588901 · Director · 10% owner

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 1,772,163

Underlying: Common Stock · 164,003 shares

Expires not disclosed

F1 · security: Represents long term incentive plan units ("LTIP Units"), a class of units of Clipper Realty L.P. (the "Operating Partnership"), a direct subsidiary of Clipper Realty Inc. (the "Company"). The LTIP Units are convertible by the reporting person, upon the vesting date, into an equivalent number of units of limited partnership units ("OP 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.

F3 · derivative.exercise_price: The LTIP Units will vest in full on January 1, 2029. The rights to convert LTIP Units into OP Units and redeem OP Units do not have expiration dates.

F3 · derivative.exercise_date: The LTIP Units will vest in full on January 1, 2029. The rights to convert LTIP Units into OP Units and redeem OP Units do not have expiration dates.

F3 · derivative.expiration_date: The LTIP Units will vest in full on January 1, 2029. The rights to convert LTIP Units into OP Units and redeem OP Units do not have expiration dates.

SEC source: 0001437749-26-005941 · rdgdoc.xml · derivative · entry 1

Levinson Sam · CIK 0001588901 · Director · 10% owner

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 1,608,156

Underlying: Common Stock · 68,973 shares

Expires not disclosed

F1 · security: Represents long term incentive plan units ("LTIP Units"), a class of units of Clipper Realty L.P. (the "Operating Partnership"), a direct subsidiary of Clipper Realty Inc. (the "Company"). The LTIP Units are convertible by the reporting person, upon the vesting date, into an equivalent number of units of limited partnership units ("OP 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.

F2 · derivative.exercise_price: The LTIP Units will vest 25% on each of March 31, 2026, June 30, 2026, September 30, 2026, and December 31, 2026. The rights to convert LTIP Units into OP Units and redeem OP Units do not have expiration dates.

F2 · derivative.exercise_date: The LTIP Units will vest 25% on each of March 31, 2026, June 30, 2026, September 30, 2026, and December 31, 2026. The rights to convert LTIP Units into OP Units and redeem OP Units do not have expiration dates.

F2 · derivative.expiration_date: The LTIP Units will vest 25% on each of March 31, 2026, June 30, 2026, September 30, 2026, and December 31, 2026. The rights to convert LTIP Units into OP Units and redeem OP Units do not have expiration dates.

SEC source: 0001437749-26-005937 · rdgdoc.xml · derivative · entry 1

KREIDER LAWRENCE E · CIK 0001278088 · Chief Financial Officer

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 382,214

Underlying: Common Stock · 71,686 shares

Expires not disclosed

F1 · security: Represents long term incentive plan units ("LTIP Units"), a class of units of Clipper Realty L.P. (the "Operating Partnership"), a direct subsidiary of Clipper Realty Inc. (the "Company"). The LTIP Units are convertible by the reporting person, upon the vesting date, into an equivalent number of units of limited partnership units ("OP 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.

F2 · derivative.exercise_price: The LTIP Units will vest in full on January 1, 2029. The rights to convert LTIP Units into OP Units and redeem OP Units do not have expiration dates.

F2 · derivative.exercise_date: The LTIP Units will vest in full on January 1, 2029. The rights to convert LTIP Units into OP Units and redeem OP Units do not have expiration dates.

F2 · derivative.expiration_date: The LTIP Units will vest in full on January 1, 2029. The rights to convert LTIP Units into OP Units and redeem OP Units do not have expiration dates.

SEC source: 0001437749-26-005933 · rdgdoc.xml · derivative · entry 1

SPOLAN HARMON · CIK 0001228772 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 33,293

Underlying: Common Stock · 7,961 shares

Expires not disclosed

F1 · security: Represents long term incentive plan units ("LTIP Units"), a class of units of Clipper Realty L.P. (the "Operating Partnership"), a direct subsidiary of Clipper Realty Inc. (the "Company"). The LTIP Units are convertible by the reporting person, upon the vesting date, into an equivalent number of units of limited partnership units ("OP 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.

F2 · derivative.exercise_price: The LTIP Units will vest 25% on each of March 31, 2026, June 30, 2026, September 30, 2026 and December 31, 2026. The rights to convert LTIP Units into OP Units and redeem OP Units do not have expiration dates.

F2 · derivative.exercise_date: The LTIP Units will vest 25% on each of March 31, 2026, June 30, 2026, September 30, 2026 and December 31, 2026. The rights to convert LTIP Units into OP Units and redeem OP Units do not have expiration dates.

F2 · derivative.expiration_date: The LTIP Units will vest 25% on each of March 31, 2026, June 30, 2026, September 30, 2026 and December 31, 2026. The rights to convert LTIP Units into OP Units and redeem OP Units do not have expiration dates.

SEC source: 0001437749-25-039097 · rdgdoc.xml · nonDerivative · entry 5

Levinson Sam · CIK 0001588901 · Director · 10% owner

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 82,203

F5 · ownership.direct: The price is the weighted average price for the acquisitions reported on this Form 4. The range of prices for the transactions reported on this Form 4 is between $3.79 and $3.80 per share. Complete information regarding the number of shares purchased at each separate price will be provided upon request by Commission Staff, the Issuer or a security holder of the Issuer

SEC source: 0001437749-25-039097 · rdgdoc.xml · nonDerivative · entry 4

Levinson Sam · CIK 0001588901 · Director · 10% owner

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 79,410

SEC source: 0001437749-25-039097 · rdgdoc.xml · nonDerivative · entry 3

Levinson Sam · CIK 0001588901 · Director · 10% owner

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 59,852

F1 · price: The price is the weighted average price for the acquisitions reported on this Form 4. The range of prices for the transactions reported on this Form 4 is between $3.62 and $3.75 per share. Complete information regarding the number of shares purchased at each separate price will be provided upon request by Commission Staff, the Issuer or a security holder of the Issuer.

SEC source: 0001437749-25-039097 · rdgdoc.xml · nonDerivative · entry 2

Levinson Sam · CIK 0001588901 · Director · 10% owner

10b5-1 filing: No plan indicated

Ownership: Indirect · See Footnote

Disclosed balance after: 26,895

F1 · price: The price is the weighted average price for the acquisitions reported on this Form 4. The range of prices for the transactions reported on this Form 4 is between $3.62 and $3.75 per share. Complete information regarding the number of shares purchased at each separate price will be provided upon request by Commission Staff, the Issuer or a security holder of the Issuer.

F3 · ownership.nature: Held by the Reporting Person's spouse through a profit sharing plan at National Financial Services LLC of which the Reporting Person is co-trustee.

SEC source: 0001437749-25-039097 · rdgdoc.xml · nonDerivative · entry 1

Levinson Sam · CIK 0001588901 · Director · 10% owner

10b5-1 filing: No plan indicated

Ownership: Indirect · See Footnote

Disclosed balance after: 57,099

F1 · price: The price is the weighted average price for the acquisitions reported on this Form 4. The range of prices for the transactions reported on this Form 4 is between $3.62 and $3.75 per share. Complete information regarding the number of shares purchased at each separate price will be provided upon request by Commission Staff, the Issuer or a security holder of the Issuer.

F2 · ownership.nature: Held through a profit sharing plan at National Financial Services LLC.

SEC source: 0001437749-25-027608 · rdgdoc.xml · nonDerivative · entry 1

BISTRICER DAVID · CIK 0001107706 · Director · Co-Chairman and CEO · 10% owner

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 8,174

F3 · price: The price is the weighted average price for the transactions reported on this line. The range of prices for the transactions reported on this line is between $3.96 and $4.02 per share. Complete information regarding the number of shares purchased at each separate price will be provided upon request by Commission Staff, the Issuer or a security holder of the Issuer

SEC source: 0001437749-25-012511 · rdgdoc.xml · derivative · entry 1

LORBER HOWARD M · CIK 0001053471 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 26,999

Underlying: Common Stock · 5,720 shares

Expires not disclosed

F1 · security: Represents long term incentive plan units ("LTIP Units"), a class of units of Clipper Realty L.P. (the "Operating Partnership"), a direct subsidiary of Clipper Realty Inc. (the "Company"). The LTIP Units are convertible by the reporting person, upon the vesting date, into an equivalent number of units of limited partnership units ("OP 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.

F2 · derivative.exercise_price: The LTIP Units will vest 25% on each of March 31, 2025, June 30, 2025, September 30, 2025 and December 31, 2025. The rights to convert LTIP Units into OP Units and redeem OP Units do not have expiration dates.

F2 · derivative.exercise_date: The LTIP Units will vest 25% on each of March 31, 2025, June 30, 2025, September 30, 2025 and December 31, 2025. The rights to convert LTIP Units into OP Units and redeem OP Units do not have expiration dates.

F2 · derivative.expiration_date: The LTIP Units will vest 25% on each of March 31, 2025, June 30, 2025, September 30, 2025 and December 31, 2025. The rights to convert LTIP Units into OP Units and redeem OP Units do not have expiration dates.

SEC source: 0001437749-25-012513 · rdgdoc.xml · derivative · entry 2

BISTRICER DAVID · CIK 0001107706 · Director · Co-Chairman and CEO · 10% owner

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 1,532,557

Underlying: Common Stock · 117,841 shares

Expires not disclosed

F1 · security: Represents long term incentive plan units ("LTIP Units"), a class of units of Clipper Realty L.P. (the "Operating Partnership"), a direct subsidiary of Clipper Realty Inc. (the "Company"). The LTIP Units are convertible by the reporting person, upon the vesting date, into an equivalent number of units of limited partnership units ("OP 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.

F3 · derivative.exercise_price: The LTIP Units will vest in full on January 1, 2028. The rights to convert LTIP Units into OP Units and redeem OP Units do not have expiration dates.

F3 · derivative.exercise_date: The LTIP Units will vest in full on January 1, 2028. The rights to convert LTIP Units into OP Units and redeem OP Units do not have expiration dates.

F3 · derivative.expiration_date: The LTIP Units will vest in full on January 1, 2028. The rights to convert LTIP Units into OP Units and redeem OP Units do not have expiration dates.

SEC source: 0001437749-25-012513 · rdgdoc.xml · derivative · entry 1

BISTRICER DAVID · CIK 0001107706 · Director · Co-Chairman and CEO · 10% owner

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 1,414,716

Underlying: Common Stock · 66,079 shares

Expires not disclosed

F1 · security: Represents long term incentive plan units ("LTIP Units"), a class of units of Clipper Realty L.P. (the "Operating Partnership"), a direct subsidiary of Clipper Realty Inc. (the "Company"). The LTIP Units are convertible by the reporting person, upon the vesting date, into an equivalent number of units of limited partnership units ("OP 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.

F2 · derivative.exercise_price: The LTIP Units will vest in full on January 1, 2026. The rights to convert LTIP Units into OP Units and redeem OP Units do not have expiration dates.

F2 · derivative.exercise_date: The LTIP Units will vest in full on January 1, 2026. The rights to convert LTIP Units into OP Units and redeem OP Units do not have expiration dates.

F2 · derivative.expiration_date: The LTIP Units will vest in full on January 1, 2026. The rights to convert LTIP Units into OP Units and redeem OP Units do not have expiration dates.

SEC source: 0001437749-25-012512 · rdgdoc.xml · derivative · entry 1

Bistricer Jacob · CIK 0001697378 · Chief Operating Officer

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 1,545,542

Underlying: Common Stock · 55,066 shares

Expires not disclosed

F1 · security: Represents long term incentive plan units ("LTIP Units"), a class of units of Clipper Realty L.P. (the "Operating Partnership"), a direct subsidiary of Clipper Realty Inc. (the "Company"). The LTIP Units are convertible by the reporting person, upon the vesting date, into an equivalent number of units of limited partnership units ("OP 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.

F2 · derivative.exercise_price: The LTIP Units will vest in full on January 1, 2028. The rights to convert LTIP Units into OP Units and redeem OP Units do not have expiration dates.

F2 · derivative.exercise_date: The LTIP Units will vest in full on January 1, 2028. The rights to convert LTIP Units into OP Units and redeem OP Units do not have expiration dates.

F2 · derivative.expiration_date: The LTIP Units will vest in full on January 1, 2028. The rights to convert LTIP Units into OP Units and redeem OP Units do not have expiration dates.

SEC source: 0001437749-25-012510 · rdgdoc.xml · derivative · entry 1

KREIDER LAWRENCE E · CIK 0001278088 · Chief Financial Officer

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 310,526

Underlying: Common Stock · 51,509 shares

Expires not disclosed

F1 · security: Represents long term incentive plan units ("LTIP Units"), a class of units of Clipper Realty L.P. (the "Operating Partnership"), a direct subsidiary of Clipper Realty Inc. (the "Company"). The LTIP Units are convertible by the reporting person, upon the vesting date, into an equivalent number of units of limited partnership units ("OP 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.

F2 · derivative.exercise_price: The LTIP Units will vest in full on January 1, 2028. The rights to convert LTIP Units into OP Units and redeem OP Units do not have expiration dates.

F2 · derivative.exercise_date: The LTIP Units will vest in full on January 1, 2028. The rights to convert LTIP Units into OP Units and redeem OP Units do not have expiration dates.

F2 · derivative.expiration_date: The LTIP Units will vest in full on January 1, 2028. The rights to convert LTIP Units into OP Units and redeem OP Units do not have expiration dates.