WALTON WILLIAM H III 4

4 · BOSTON PROPERTIES LTD PARTNERSHIP · Filed Jun 2, 2026

AI-generated summary of this filing

Updated Jun 2, 2026

Boston Properties (BXP) Director William H. Walton III Receives Award

What Happened

William H. Walton III, a director of Boston Properties (BXP), was granted 3,332 LTIP units (a derivative award) on May 29, 2026. The grant price is $0.25 per unit for a total reported value of $833. This is an equity-based award (transaction code A), not an open-market purchase or sale.

Key Details

Transaction date and filing: grant dated 2026-05-29; Form 4 filed 2026-06-02.
Grant specifics: 3,332 LTIP units at $0.25 each; total value $833.
Vesting: units vest on the earlier of (i) May 29, 2027 or (ii) the date of BXP’s 2027 annual meeting of stockholders (see footnote F2).
Derivative terms (footnote F1): LTIP units are limited partnership interests that, upon certain tax/accounting conditions, may be converted into common OP units. Common OP units can be redeemed for cash equal to the fair market value of a BXP share or, at BXP’s election, exchanged for one share of BXP common stock. LTIP units have no expiration date.
Shares owned after transaction: not specified in the filing.
Filing timeliness: Form filed June 2, 2026; the filing does not state a late-filer designation.

Context

This was an equity compensation award (retention/long-term incentive), not a buy or sell; such awards are routine for directors and reflect compensation policy rather than an immediate market view.
Because these LTIP units are derivative interests convertible/redeemable into common-equity economic value, their ultimate value depends on BXP’s future stock price and the issuer’s election rights.

Form 4

Period: 2026-05-29

Director

Transactions

Award
LTIP Units
[F1][F2]
2026-05-29$0.25/sh+3,332$833→ 17,629 total
→ Common OP Units (3,332 underlying)

Footnotes (2)

[F1]Represents units of limited partnership interest in the Issuer issued pursuant to BXP, Inc.'s ("BXP"), the Issuer's general partner, 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 the Issuer or the holder, into a common unit of limited partnership interest in the Issuer ("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.
[F2]The 3,332 LTIP Units will vest on the earlier of (i) May 29, 2027 and (ii) the date of BXP's 2027 annual meeting of stockholders.

Signature

/s/ Kelli A. DiLuglio, as Attorney-in-Fact|2026-06-02

1 file