LUSTIG MATTHEW J 4

4 · BXP, Inc. · Filed Jun 2, 2026

AI-generated summary of this filing

Updated Jun 2, 2026

BXP Director Matthew J. Lustig Receives 3,332 LTIP Units

What Happened

Matthew J. Lustig, a director of BXP, was granted 3,332 LTIP Units (derivative limited partnership units) on 2026-05-29. The units were reported at $0.25 each, for a total reported value of $833. This transaction is coded as an Award/Grant (A) — a compensation award rather than an open-market purchase.

Key Details

Transaction date: 2026-05-29; Filing date: 2026-06-02 (filed on time).
Price/value: $0.25 per LTIP Unit; total value $833.
Instrument: LTIP Units (limited partnership interests in Boston Properties Limited Partnership) — a derivative instrument, not direct common stock.
Vesting: 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.
Conversion/redemption: LTIP Units may be converted into Common OP Units, which can be redeemed for cash equal to the fair market value of a BXP share or, at the issuer’s election, exchanged for one share of common stock. LTIP Units have no expiration.
Shares owned after transaction: not specified in the Form 4.

Context

This is a compensation grant (award) rather than a purchase or sale; such grants are common and reflect company equity compensation practices rather than an immediate trading signal. The reported dollar value is small ($833) because the grant is in partnership units priced at $0.25 each; potential economic value depends on future conversion/redemption and stock price.

Form 4

Period: 2026-05-29

Director

Transactions

Award
LTIP Units
[F1][F2]
2026-05-29$0.25/sh+3,332$833→ 25,697 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.

Signature

/s/ Kelli A. DiLuglio, as Attorney-in-Fact|2026-06-02

1 file