Raymond A. Ritchey - Sep 9, 2024 Form 4 Insider Report for BXP, Inc. (BXP)

Role
Senior EVP
Signature
/s/ Kelli A. DiLuglio, as Attorney-in-Fact
Stock symbol
BXP
Transactions as of
Sep 9, 2024
Transactions value $
-$1,626,683
Form type
4
Date filed
9/10/2024, 12:15 PM
Previous filing
Mar 7, 2024

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction BXP Common Stock, par value $0.01 Conversion of derivative security +21.8K 21.8K Sep 9, 2024 Direct F1
transaction BXP Common Stock, par value $0.01 Sale -$1.62M -21.8K -100% $74.25 0 Sep 9, 2024 Direct F2
holding BXP Common Stock, par value $0.01 14.2K Sep 9, 2024 By The Raymond A. Ritchey 2008 Family Trust

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 Conversion of derivative security -$5.46K -21.8K -13.92% $0.25 135K Sep 9, 2024 Common Stock 21.8K Direct F1, F3
transaction BXP Common OP Units Conversion of derivative security +21.8K +24.59% 111K Sep 9, 2024 Common Stock, par value $0.01 21.8K Direct F1, F4
transaction BXP Common OP Units Conversion of derivative security -21.8K -19.74% 88.8K Sep 9, 2024 Common Stock, par value $0.01 21.8K Direct F1, F4
holding BXP Common OP Units 10.5K Sep 9, 2024 Common Stock, par value $0.01 10.5K By The Raymond A. Ritchey 2020 Grantor Retained Annuity Trust, dated June 11, 2020 F4
holding BXP Common OP Units 17.1K Sep 9, 2024 Common Stock, par value $0.01 17.1K By The Raymond A. Ritchey 2008 Family Trust F4
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 21,835 of the reporting person's units of limited partnership interest ("LTIP Units") in Boston Properties Limited Partnership ("BPLP"), of which the Issuer is the general partner, were converted into common units of limited partnership interest ("Common OP Units") in BPLP by the reporting person and the Common OP Units were redeemed for an equal number of shares of the Issuer's common stock in accordance with BPLP's Partnership Agreement.
F2 Represents the weighted average sale price. These shares were sold in multiple transactions at sale prices ranging from $74.0225 to $74.325, inclusive. The reporting person undertakes to provide upon request by the U.S. Securities and Exchange Commission staff, the Issuer, or a security holder of the Issuer, full information regarding the number of shares sold at each separate price.
F3 Represents LTIP Units in the Issuer issued as long term incentive compensation pursuant to BXP'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 the Issuer or the holder, into a 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 BXP's common stock, except that BXP may, at its election, acquire each Common OP Unit so presented for one share of BXP's common stock. LTIP Units have no expiration date.
F4 Represents Common OP Units in BPLP. Each Common OP Unit may be presented for redemption, at the election of the holder, for cash equal to the fair market value of a share of the Issuer's Common Stock, except that the Issuer may, at it's election, acquire each Common OP Unit so presented for redemption for one share of Common Stock. Common OP Units have no expiration date.