Tony West - 28 May 2025 Form 4 Insider Report for BXP, Inc. (BXP)

Role: Director
Signature: /s/ Kelli A. DiLuglio, as Attorney-in-Fact
Issuer symbol: BXP
Transactions as of: 28 May 2025
Net transactions value: +$304
Form type: 4
Filing time: 29 May 2025, 12:31:28 UTC
Previous filing: 20 May 2025
Next filing: 18 Jun 2025
SEC: View on sec.gov

Reporting Owners (1)

Name	Relationship	Address	Signature	Signature date	CIK
West Tony	Director	800 BOYLSTON STREET, SUITE 1900, BOSTON	/s/ Kelli A. DiLuglio, as Attorney-in-Fact	29 May 2025	0001626201

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	+1,217	+25%	$0.000000	6,025	28 May 2025	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	$304	+1,217	+86%	$0.2500	2,634	28 May 2025	Common Stock, par value $0.01	1,217		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 1,217 LTIP Units will vest on the earlier of (i) May 28, 2026 and (ii) the date of the BXP's 2026 annual meeting of stockholders.

Content

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.

The 1,217 LTIP Units will vest on the earlier of (i) May 28, 2026 and (ii) the date of the BXP's 2026 annual meeting of stockholders.