LINDE DOUGLAS T 4

What Happened Douglas T. Linde, President and Director of BXP, was granted/earned 20,973 LTIP units (reported as a derivative acquisition, Code A) on February 13, 2026, at an attributed price of $0.25 each, reported value $5,243. The award reflects earned units under Boston Properties’ 2023 Multi-Year Long-Term Incentive Program (the "Program"). The filing also reports the forfeiture of 19,907 LTIP units originally issued on February 7, 2023 that were subject to performance-based vesting hurdles.

Key Details

• Transaction date and type: 2026-02-13; Grant/award (Code A); derivative security.
• Amount and price: 20,973 LTIP units at $0.25 each; reported total value $5,243.
• Post-transaction holdings: The filing does not state total beneficial ownership of company common stock after this transaction.
• Notable footnotes:
  • F1: LTIP Units are limited partnership interests in Boston Properties Limited Partnership (BPLP) earned under the 2023 LTIP.
  • F2: LTIP Units may be converted (subject to tax allocation conditions) into Common OP Units, which can be redeemed for cash equal to the fair market value of a BXP share or exchanged for BXP shares at the issuer’s election.
  • F3: LTIP Units vest when earned but are subject to an additional one-year post-vesting transfer/redemption restriction.
  • F4: 19,907 LTIP Units issued Feb 7, 2023 were forfeited as noted.
• Timeliness: Transaction reported on Form 4 filed 2026-02-17 for a 2026-02-13 transaction; filing was timely under the Form 4 reporting window.

Context This was a performance-based LTIP award (derivative interest), not an open-market purchase or sale. LTIP Units link the executive’s payout to company performance and can convert into partnership/common-unit interests with redemption or share-exchange mechanics; they are not immediately tradable shares and are subject to a one-year post-vesting holding period.