Robert E. Pester - 03 Feb 2023 Form 4 Insider Report for BOSTON PROPERTIES INC (BXP)

Role: Executive Vice President
Signature: /s/ Kelli A. DiLuglio, as Attorney-in-Fact
Issuer symbol: BXP
Transactions as of: 03 Feb 2023
Net transactions value: +$2,318
Form type: 4
Filing time: 07 Feb 2023, 13:54:37 UTC
Previous filing: 17 Feb 2022
Next filing: 09 Feb 2023
SEC: View on sec.gov

Key filing fact

Robert E. Pester filed Form 4 for BOSTON PROPERTIES INC (BXP) on 07 Feb 2023.

Key facts

This page summarizes Robert E. Pester's Form 4 filing for BOSTON PROPERTIES INC (BXP).
1 reported transaction and 1 derivative row are listed below.
Filing timestamp: 07 Feb 2023, 13:54.

Change

Previous filing in this sequence was filed on 17 Feb 2022.
Current net transaction value: +$2,318.

Research use

This tells you what this filing adds before you inspect full transaction and derivative tables.
You can trace every row back to the original SEC filing document.

Evidence

Filed on Form 4

Ownership activity is grounded in SEC Form 4 disclosures.

See Original Filing

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

BXP transaction Derivative

LTIP Units

Award

Transaction value: $2,318
Shares: +9,273
Change %: +13%
Price: $0.2500^*
Shares after: 80,619
Date: 03 Feb 2023
Ownership: Direct
Underlying class: Common Stock, par value $0.01
Underlying amount: 9,273
Exercise price
Footnotes: 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 as long term incentive compensation ("LTIP Units") pursuant to the Issuer's equity based incentive programs. 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 9,273 LTIP Units were fully vested upon issuance as a result of the Reporting Person's attainment of age 65.

Content

Represents units of limited partnership interest in Boston Properties Limited Partnership ("BPLP"), of which the Issuer is the general partner, issued as long term incentive compensation ("LTIP Units") pursuant to the Issuer's equity based incentive programs. 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.

The 9,273 LTIP Units were fully vested upon issuance as a result of the Reporting Person's attainment of age 65.