KLEIN JOEL 4
4 · BXP, Inc. · Filed Jul 1, 2026
Research Summary
AI-generated summary of this filing
BXP Director Joel Klein Receives 496.41-Share Phantom Stock Award
What Happened
Joel Klein, a non-employee director of BXP, was granted 496.41 Phantom Stock Units on 2026-06-30. The filing values the award at $66.31 per share, for a total reported value of $32,917. The units are derivative awards that convert to BXP common stock on a 1-for-1 basis when settled.
Key Details
- Transaction type/date: Award (A) on 2026-06-30; Form 4 filed 2026-07-01 (timely).
- Quantity/price/value: 496.41 Phantom Stock Units at $66.31 per share; total $32,917 (derivative award).
- Shares owned after transaction: Not disclosed in the provided filing excerpt.
- Footnotes of note:
- F1: Phantom Stock Units convert to BXP common stock 1-for-1 on settlement.
- F2: Award made under BXP’s 2021 Stock Incentive Plan to non-employee directors who elected phantom units instead of cash; settlement occurs after board service in a lump sum or up to ten annual installments, and fractional units may be paid in cash. Directors may elect post-retirement to convert portion of payout to measurement funds (paid in cash).
- F3: The grant includes 281.57 Phantom Stock Units credited as dividend equivalents on April 30, 2026.
Context
This was a compensation award to a non-employee director, not an open-market purchase or sale. Phantom Stock Units are a derivative form of equity compensation—no immediate stock was received for trading; conversion/settlement into actual shares (or cash for certain elections/fractionals) occurs later per the plan rules. Such awards are routine director compensation and do not by themselves indicate a buy or sell signal.
Insider Transaction Report
- Award
Phantom Stock Units
[F1][F2][F3]2026-06-30$66.31/sh+496.41$32,917→ 24,293.47 total→ Common Stock, par value $0.01 (496.41 underlying)
Footnotes (3)
- [F1]The Phantom Stock Units convert to BXP, Inc. ("BXP") common stock on a 1-for-1 basis.
- [F2]The Phantom Stock Units are awarded under BXP's 2021 Stock Incentive Plan to non-employee directors who elected to receive Phantom Stock Units in lieu of director cash compensation fees. The Phantom Stock Units are to be settled in shares of BXP common stock (except that fractional units, if any, will be settled in cash) in a lump sum or in ten annual installments, at the reporting person's election, following the reporting person's retirement from the BXP Board of Directors. In addition, non-employee directors who elect a deferred payout following their retirement may make one or more elections to convert all or a portion (but only in 25% increments) of their notional investment from BXP common stock to a deemed investment in one or more measurement funds. These elections may only be made after the director's service on the BXP Board of Directors ends. Amounts notionally invested in measurement funds will be settled in cash instead of BXP common stock.
- [F3]Includes 281.57 Phantom Stock Units received pursuant to dividend equivalent rights which were credited to the Reporting Person on April 30, 2026.