LUSTIG MATTHEW J 4
4 · BOSTON PROPERTIES LTD PARTNERSHIP · Filed Jun 2, 2026
Research Summary
AI-generated summary of this filing
Boston Properties Director Matthew J. Lustig Receives Award — 3,332 LTIP Units
What Happened
Matthew J. Lustig, a director of Boston Properties Ltd Partnership, was granted 3,332 LTIP units (a derivative equity award) on May 29, 2026. The units are recorded at $0.25 each for a total reported value 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. The filing does not indicate a late-reporting code.
- Amount: 3,332 LTIP Units @ $0.25 each; total reported value $833.
- Shares/units owned after transaction: Not reported on this filing.
- Footnote summary:
- LTIP Units are limited partnership interest units issued under BXP, Inc.’s equity incentive programs and are derivative awards (may convert to Common OP Units).
- Upon conversion, Common OP Units may be redeemed for cash equal to the fair market value of BXP common stock or, at BXP’s election, exchanged for one share of BXP common stock. LTIP Units have no expiration.
- Vesting: the 3,332 LTIP Units vest on the earlier of May 29, 2027 or BXP’s 2027 annual meeting of stockholders.
Context
This is a standard equity-compensation grant to a director. Such awards are part of executive/director pay and do not by themselves indicate buying or selling pressure in the market. Because these are derivative LTIP Units (with conversion/redemption features), they differ from immediate common-share purchases; their economic value depends on future conversion/redemption terms and BXP’s stock value at conversion.
Insider Transaction Report
- Award
LTIP Units
[F1][F2]2026-05-29$0.25/sh+3,332$833→ 25,697 total→ Common OP Units (3,332 underlying)
Footnotes (2)
- [F1]Represents units of limited partnership interest in the Issuer issued pursuant to BXP, Inc.'s ("BXP"), the Issuer's general partner, 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 the Issuer or the holder, into a common unit of limited partnership interest in the Issuer ("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 BXP's common stock, except that BXP may, at its election, acquire each Common OP Unit so presented for one share of BXP's 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 BXP's 2027 annual meeting of stockholders.