KLEIN JOEL 4

What Happened

Joel Klein, a director of BXP, Inc., was granted 3,332 LTIP units (an equity-based limited partnership derivative) on May 29, 2026. The units were recorded at $0.25 each for a nominal total of $833. This was an award/grant (compensation), not an open-market purchase or sale.

Key Details

• Transaction date: 2026-05-29; Form 4 filed: 2026-06-02 (filed timely within the SEC two-business-day requirement).
• Transaction type/code: A — Grant / Award (derivative LTIP Units).
• Count and price: 3,332 LTIP Units at $0.25 each; total nominal value $833.
• Vesting: The 3,332 LTIP Units vest on the earlier of (i) May 29, 2027 or (ii) BXP’s 2027 annual meeting of stockholders.
• Security details (footnote): LTIP Units are limited partnership units in Boston Properties Limited Partnership that can, subject to tax-related conditions, be converted into common OP Units and then redeemed for cash equal to the fair market value of a BXP common share or exchanged for one share at the issuer’s election. LTIP Units have no expiration date.
• Shares owned after the transaction: Not reported in the provided filing (post-transaction holdings not specified).

Context

This is a standard director compensation award rather than an investment buy or sale. LTIP Units are derivative/partnership interests that can ultimately be redeemed or converted into common-stock-equivalent value; such grants are common and reflect compensation policy rather than a personal market bet.