LINDE DOUGLAS T 4
4 · BOSTON PROPERTIES LTD PARTNERSHIP · Filed Feb 17, 2026
Research Summary
AI-generated summary of this filing
Boston Properties (BXP) — Douglas T. Linde Receives 20,973 LTIP Units
What Happened
Douglas T. Linde, President of the Issuer's general partner and a director, was awarded/acquired 20,973 LTIP Units on February 13, 2026 (transaction code A) at $0.25 per unit for a reported aggregate value of $5,243. The units are derivative limited partnership interests earned under BXP, Inc.'s 2023 Multi-Year Long‑Term Incentive Program and vested when earned, but are subject to a post‑vesting holding period.
Key Details
- Transaction date: 2026-02-13; filing date: 2026-02-17 (appears timely; Form 4 was filed within required reporting window).
- Price: $0.25 per LTIP Unit; total reported value $5,243.
- Transaction type/code: Award/Acquisition (A), derivative securities (LTIP Units).
- Post-transaction ownership: total beneficially owned after this transaction is not specified in the provided filing data.
- Conversion/redemption: LTIP Units may be converted to Common OP Units (subject to tax allocations). Common OP Units can be redeemed for cash equal to the fair market value of a BXP share, or BXP may elect to acquire them for one share of BXP common stock. LTIP Units have no expiration.
- Holding/vesting: units vested when earned but generally cannot be transferred nor redeemed for one year after vesting.
- Forfeiture noted: the filing reflects forfeiture of 19,907 LTIP Units originally issued Feb 7, 2023 that had been previously reported but remained subject to performance-based vesting hurdles.
Context
This was a compensation-related award earned under a multi-year performance LTIP, not an open-market purchase or sale. Such awards reflect program payouts tied to performance metrics and include conversion/restriction mechanics; they are routine executive compensation and should not be read solely as a personal market bet by the insider.
Insider Transaction Report
- Award
LTIP Units
[F1][F2][F3][F4]2026-02-13$0.25/sh+20,973$5,243→ 807,060 total→ Common OP Units (20,973 underlying)
Footnotes (4)
- [F1]Represents units of limited partnership interest in the Issuer earned (i.e., for which the performance-based hurdles have been met) pursuant to BXP, Inc.'s ("BXP's"), the Issuer's sole general partner'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 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.
- [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 19,907 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.