Bryan J. Koop - Nov 9, 2021 Form 4 Insider Report for BOSTON PROPERTIES INC (BXP)

Role
Executive Vice President
Signature
/s/ Kelli A. DiLuglio, as Attorney-in-Fact
Stock symbol
BXP
Transactions as of
Nov 9, 2021
Transactions value $
$712,142
Form type
4
Date filed
11/12/2021, 09:02 AM
Next filing
Feb 1, 2022

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction BXP Common Stock, par value $0.01 Options Exercise $712K +7.07K +263.23% $100.77 9.75K Nov 9, 2021 Direct F1

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
transaction BXP Employee Stock Option (right to buy) Options Exercise $0 -7.07K -100% $0.00* 0 Nov 9, 2021 Common Stock, par value $0.01 7.07K $100.77 Direct F2, F3, F4
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Includes 99.9847 shares of Common Stock which the Reporting Person acquired in July 2021 pursuant to the Boston Properties, Inc. 1999 Non-Qualified Employee Stock Purchase Plan, as amended.
F2 In (1) January 2014, the Issuer paid a special dividend of $2.25 per share of Common Stock to all stockholders of record as of the close of business on December 31, 2013, (2) January 2015, the Issuer paid a special dividend of $4.50 per share of Common Stock to all stockholders of record as of the close of business on December 31, 2014 and (3) January 2016, the Issuer paid a special dividend of $1.25 per share of Common Stock to all stockholders of record as of the close of business on December 31, 2015. In connection with these special dividends, the Issuer's Board of Directors adjusted all options that were awarded, but not exercised, prior to the ex-dividend date for each special dividend to account for the effect of each special dividend. The number of shares subject to each such option was increased and the exercise price correspondingly decreased such that each option had the same fair value to the holder before and after giving effect to the payment of each special dividend.
F3 Pursuant to the adjustments described in Footnote 2, the number of shares underlying the Reporting Person's options increased by (1) 146 from 6,621 to 6,767 in January 2014, (2) 232 from 6,767 to 6,999 in January 2015 and (3) 68 from 6,999 to 7,067 in January 2016 and the per share exercise price was correspondingly decreased.
F4 The option vested in four equal annual installments beginning on January 15, 2013.