Joel Klein - May 26, 2022 Form 4 Insider Report for BOSTON PROPERTIES INC (BXP)

Role
Director
Signature
/s/ Kelli A. DiLuglio, as Attorney-in-Fact
Stock symbol
BXP
Transactions as of
May 26, 2022
Transactions value $
$376
Form type
4
Date filed
5/31/2022, 04:34 PM
Previous filing
Apr 1, 2022
Next filing
Jul 5, 2022

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 LTIP Units Award $376 +1.5K +16.1% $0.25* 10.8K May 26, 2022 Common Stock, par value $0.01 1.5K Direct F1, F2
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Represents units of limited partnership interest in Boston Properties Limited Partnership ("BPLP"), of which the Issuer is the general partner, issued pursuant to the Issuer's equity based incentive programs ("LTIP Units"). Conditioned upon minimum allocations to the capital accounts of the LTIP Units for federal income tax purposes, each LTIP Unit may be converted, at the election of BPLP or the holder, into a common unit of limited partnership interest in BPLP ("Common OP Unit"). Each Common OP Unit acquired upon conversion of an LTIP Unit may be presented for redemption, at the election of the holder, for cash equal to the then fair market value of a share of the Issuer's common stock, except that the Issuer may, at its election, acquire each Common OP Unit so presented for one share of common stock. LTIP Units have no expiration date.
F2 The 1,504 LTIP Units will vest on the earlier of (i) May 26, 2023 and (ii) the date of the Issuer's 2023 annual meeting of stockholders.