Mary E. Kipp - Dec 31, 2022 Form 4 Insider Report for BOSTON PROPERTIES INC (BXP)

Role
Director
Signature
Kelli A. DiLuglio, as Attorney-in-Fact
Stock symbol
BXP
Transactions as of
Dec 31, 2022
Transactions value $
$27,500
Form type
4
Date filed
1/3/2023, 01:05 PM
Previous filing
Oct 3, 2022
Next filing
Jan 3, 2023

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 Phantom Stock Units Award $27.5K +407 +43.57% $67.58 1.34K Dec 31, 2022 Common Stock, par value $0.01 407 Direct F1, F2, F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 The Phantom Stock Units convert to Common Stock on a 1-for-1 basis
F2 The Phantom Stock Units are awarded under the Boston Properties, Inc. ("BXP") 2021 Stock Incentive Plan (the "2021 Plan") to non-employee directors who elected to receive Phantom Stock Units in lieu of director cash compensation fees. The Phantom Stock Units are to be settled in shares of BXP common stock (except that fractional units, if any, will be settled in cash) in a lump sum or in ten annual installments, at the reporting person's election, following the reporting person's retirement from the BXP Board of Directors. In addition, non-employee directors who elect a deferred payout following their retirement may elect to convert not less than 100% of their notional investment from BXP common stock to a deemed investment in one or more measurement funds. This election may only be made after the director's service on the BXP Board of Directors ends. A director's account that has been converted to measurement funds will be settled in cash instead of BXP common stock.
F3 Includes 12.42 Phantom Stock Units received pursuant to dividend equivalent rights which were credited to the Reporting Person on October 31, 2022.