KOOP BRYAN J 4

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.