DUNCAN BRUCE W 4
4 · BXP, Inc. · Filed Jun 2, 2026
Research Summary
AI-generated summary of this filing
BXP Director Bruce W. Duncan Receives 3,332 LTIP Units
What Happened Bruce W. Duncan, a director of BXP, was granted 3,332 LTIP units (derivative equity award) on May 29, 2026. The award is reported at $0.25 per unit for a total reported value of $833. This was an equity grant (award), not a market purchase or sale.
Key Details
- Transaction date: 2026-05-29; transaction type: Award/Grant (Code A).
- Price/value: $0.25 per LTIP unit; total reported value $833.
- Units granted: 3,332 LTIP units (derivative interests in Boston Properties Limited Partnership).
- Vesting: The units vest on the earlier of (i) May 29, 2027 or (ii) BXP’s 2027 annual meeting of stockholders.
- Shares owned after transaction: Not reported on this Form 4.
- Footnote summary: LTIP Units can be converted into common OP units and, generally, converted/returned for cash equal to the fair market value of a share of BXP common stock or, at the issuer’s election, exchanged for one share of common stock. LTIP Units have no expiration date.
- Filing: Form 4 filed 2026-06-02 reporting the 5/29/2026 grant.
Context This was a standard director compensation grant (equity award), a routine non-cash form of pay rather than an active purchase or sale. Because these are derivative units that convert or redeem based on BXP equity value, they are not the same as receiving immediately tradeable shares. The award’s modest reported dollar value ($833) reflects the valuation used on the Form 4, not necessarily the future cash or share value upon conversion or redemption.
Insider Transaction Report
- Award
LTIP Units
[F1][F2]2026-05-29$0.25/sh+3,332$833→ 20,739 total→ Common Stock, par value $0.01 (3,332 underlying)
Footnotes (2)
- [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 3,332 LTIP Units will vest on the earlier of (i) May 29, 2027 and (ii) the date of the BXP's 2027 annual meeting of stockholders.