BXP Director William H. Walton III Receives Phantom Stock Award

What Happened

• William H. Walton III, a non-employee director of BXP (BXP), was granted 388.64 Phantom Stock Units on September 30, 2026. The units are valued at $61.11 each, for a total reported value of $23,750. This filing reports an award/derivative transaction (Form 4 transaction code A).

Key Details

• Transaction date and terms: 2026-09-30; 388.64 Phantom Stock Units @ $61.11 = $23,750 (derivative award).
• Conversion: The Phantom Stock Units convert to BXP common stock on a 1-for-1 basis (footnote F1).
• Settlement: Units are awarded under BXP’s 2021 Stock Incentive Plan for non-employee directors who elected phantom units in lieu of cash. They are settled in shares (or cash for fractional units) either in a lump sum or in ten annual installments after the director’s retirement; directors may elect post-service to convert portions to measurement funds that pay out in cash (footnote F2).
• Dividend equivalents: The total includes 101.33 Phantom Stock Units credited as dividend equivalents on July 31, 2026 (footnote F3).
• Shares owned after transaction: Not disclosed in the filing.
• Timeliness: Report filed 2026-10-01 for a 2026-09-30 transaction (no late filing indicated).

Context

• This was an award of phantom (not currently-issued) units that are derivative rights to receive common stock (or cash in limited circumstances) in the future, typically tied to retirement/deferral elections. Such grants to non-employee directors are routine compensation and do not by themselves indicate a buy or sell signal.