Bruce W. Duncan - May 30, 2024 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 30, 2024
Transactions value $
$709
Form type
4
Date filed
5/31/2024, 01:24 PM
Previous filing
Apr 1, 2024
Next filing
Jul 1, 2024

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 $709 +2.84K +23.36% $0.25* 15K May 30, 2024 Common Stock, par value $0.01 2.84K 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 2,835 LTIP Units will vest on the earlier of (i) May 30, 2025 and (ii) the date of the BXP's 2025 annual meeting of stockholders.