Eric G. Kevorkian - Feb 3, 2023 Form 4 Insider Report for BOSTON PROPERTIES INC (BXP)

Role
SVP, CLO and Secretary
Signature
/s/ Kelli A. DiLuglio, Attorney-in-Fact
Stock symbol
BXP
Transactions as of
Feb 3, 2023
Transactions value $
$745
Form type
4
Date filed
2/7/2023, 02:01 PM
Previous filing
Jun 10, 2022
Next filing
Feb 15, 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction BXP Common Stock, par value $0.01 Award $0 +994 $0.00 994 Feb 3, 2023 Direct

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 $745 +2.98K +44.51% $0.25* 9.68K Feb 3, 2023 Common Stock, par value $0.01 2.98K Direct F1, F2, F3
* 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 2,980 LTIP Units vest in four equal annual installments beginning on January 15, 2024.
F3 The reporting person disclaims beneficial ownership of 62.09 LTIP Units, and the filing of this statement shall not be deemed an admission that the reporting person is the beneficial owner of such LTIP Units for purposes of Section 16 of the Securities Act of 1934, as amended, or for any other purpose. Such LTIP Units are held for the benefit of the reporting person's former spouse pursuant to a qualified domestic relations order.