KOOP BRYAN J 4
4 · BXP, Inc. · Filed Feb 17, 2026
Research Summary
AI-generated summary of this filing
BXP Exec VP Bryan J. Koop Receives 5,501 LTIP Units
What Happened
- Bryan J. Koop, Executive Vice President of BXP, received a grant of 5,501 LTIP Units (derivative award) on February 13, 2026. The filing lists a per-unit acquisition value of $0.25, for a total reported value of $1,375.
- These LTIP Units are units of limited partnership interest in Boston Properties Limited Partnership (BPLP) and were earned under BXP’s 2023 Multi-Year Long-Term Incentive Program. The award vested when earned but is subject to an additional one-year post-vesting holding period.
Key Details
- Transaction date: 2026-02-13; Form 4 filed: 2026-02-17 (appears to meet the usual 2-business-day filing deadline).
- Transaction type/code: Award/Grant (A); amount: 5,501 LTIP Units; reported price/value: $0.25 per unit, $1,375 total.
- Shares/units owned after transaction: not specified in the filing.
- Notable footnotes:
- F1: LTIP Units earned under the 2023 Program.
- F2: 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 converted into shares at the issuer’s election.
- F3: Although vested when earned, LTIP Units and any converted Common OP Units generally cannot be transferred or redeemed until one year after vesting.
- F4: The filing also reflects forfeiture of 5,222 LTIP Units issued Feb 7, 2023; net change from these entries is +279 LTIP Units (5,501 granted − 5,222 forfeited).
Context
- These are derivative compensation units (not an open-market purchase or sale). LTIP Units provide potential economic exposure tied to the company’s partnership interests and may convert into units redeemable for cash or shares, subject to conditions and holding restrictions.
- The transaction is a compensation award (A) and is generally part of routine executive pay rather than an immediate market trade; it does not by itself indicate insider buying or selling sentiment.
Insider Transaction Report
Form 4
BXP, Inc.BXP
KOOP BRYAN J
Executive Vice President
Transactions
- Award
LTIP Units
[F1][F2][F3][F4]2026-02-13$0.25/sh+5,501$1,375→ 222,070 total→ Common Stock, par value $.01 (5,501 underlying)
Footnotes (4)
- [F1]Represents units of limited partnership interest in Boston Properties Limited Partnership ("BPLP"), of which the Issuer is the general partner, earned (i.e., for which the performance-based hurdles have been met) pursuant to the Issuer's 2023 Multi-Year Long-Term Incentive Program (the "Program").
- [F2]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 the Issuer's common stock. LTIP Units have no expiration date.
- [F3]The LTIP Units earned pursuant to the Program vested in full upon being earned. Each earned LTIP Unit and Common OP Unit acquired upon conversion of such LTIP Unit is subject to an additional post-vesting holding period pursuant to which such LTIP Unit and Common OP Unit generally may not be transferred, and the redemption right associated with the Common OP Unit may not be exercised, until one year after the vesting date.
- [F4]Reflects the forfeiture of 5,222 LTIP Units originally issued on February 7, 2023 pursuant to the Program that were previously reported as beneficially owned by the Reporting Person, but remained subject to certain performance-based vesting hurdles based on the Issuer's total shareholder return for the period from February 7, 2023 to February 6, 2026.
Signature
/s/ Kelli A. DiLuglio, as Attorney-in-Fact|2026-02-17