KLEIN JOEL 4

What Happened

• Joel Klein, a director of Boston Properties (BXP), was granted 3,332 LTIP units (derivative award) on 2026-05-29 at a reported per‑unit value of $0.25, a total reported value of $833. The filing reports an acquisition by award (code A), not a market purchase.

Key Details

• Transaction date: 2026-05-29; Form 4 filed: 2026-06-02 (no late filing indicated).
• Type: Grant / Award of LTIP Units (derivative instrument) — reported as acquisition (A).
• Amount and price: 3,332 LTIP Units @ $0.25 each; total $833.
• Shares owned after transaction: not disclosed in this filing.
• Vesting: The 3,332 LTIP Units vest on the earlier of (i) May 29, 2027 or (ii) the date of BXP's 2027 annual meeting of stockholders.
• Footnotes: LTIP Units are limited partnership interest units under BXP, Inc.’s equity incentive programs. They may be converted (by the issuer or holder) into Common OP Units, which can be redeemed for cash equal to the fair market value of a share of BXP common stock or, at BXP’s election, exchanged for one share of BXP common stock. LTIP Units have no expiration date.

Context

• This is an equity compensation award (routine grant) rather than an open‑market buy or sale. As a derivative award, the units vest in the future and do not represent immediately tradable BXP shares; conversion/redemption mechanics determine eventual cash or share outcomes. Awards indicate company compensation decisions, not a direct buy/sell signal by the insider.