| Type | Sym | Class | Transaction | Value $ | Shares | Change % | * Price $ | Shares After | Date | Underlying Class | Amount | Exercise Price | Ownership | Footnotes |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| transaction | BXP | LTIP Units | Award | $899 | +3,596 | +2% | $0.2500* | 185,707 | 13 Feb 2023 | Common Stock, par value $0.01 | 3,596 | Direct | F1, F2, F3 |
| Id | Content |
|---|---|
| F1 | Represents units of limited partnership interest in Boston Properties Limited Partnership ("BPLP"), of which the Issuer is the general partner, earned (i.e., for which the performance-based hurdles have been met) pursuant to the Issuer's 2020 Multi-Year Long-Term Incentive Program (the "Program"). |
| F2 | 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 the Issuer's common stock. LTIP Units have no expiration date. |
| F3 | The 3,596 LTIP Units earned pursuant to the Program vested 50% upon being earned and 50% will vest on February 3, 2024. |