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Filing Details

Issuer

Cik	Name	Symbol	Sector (SIC)	IRS No
1649096	Clipper Realty Inc.	CLPR	()	4

Insiders

Cik	Name	Reported Address	Insider Title	Director	Officer	Large Shareholder	Other
1588901	Sam Levinson	4611 Twelfth Avenue Brooklyn NY 11219		Yes	No	Yes	No

Reported Non-Derivative Transactions

Sec. Name	Acquisiton - Disposition	Date	Amount	Price	Remaning Holdings	Equity Swap Involved	Form Type	Code	Nature of Ownership	Explanation
Common Stock	Acquisiton	2017-06-09	40,000	$11.25	40,000	No	4	P	Direct
Common Stock	Acquisiton	2017-06-09	30,334	$11.25	1,235,266	No	4	P	Indirect	By Trapeze Inc., a Delaware corporation
Common Stock	Acquisiton	2017-06-09	13,000	$11.25	134,482	No	4	P	Indirect	By Trapeze D Holdings LLC, a Delaware limited liability company

Equity Swap Involved	Form Type	Code	Nature of Ownership	Explanation
No	4	P	Direct
No	4	P	Indirect	By Trapeze Inc., a Delaware corporation
No	4	P	Indirect	By Trapeze D Holdings LLC, a Delaware limited liability company

Reported Non-Derivative Holdings

Sec. Name	Remaning Holdings	Nature of Ownership	Explanation
Common Stock	126,335	Indirect	By ECL Holdings LLC, a Delaware limited liability company
Special Voting Stock	4,464,692	Indirect	By Trapeze Inc., a Delaware corporation
Special Voting Stock	1,362,039	Indirect	By Trapeze D Holdings LLC, a Delaware limited liability company
Special Voting Stock	1,469,548	Indirect	By ECL Holdings LLC, a Delaware limited liability company

Footnotes

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. Class B LLC Units are units of certain limited liability companies that are indirect subsidiaries of the Issuer. 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.