RITCHEY RAYMOND A 4
4 · BOSTON PROPERTIES LTD PARTNERSHIP · Filed Feb 17, 2026
Research Summary
AI-generated summary of this filing
Boston Properties Senior EVP Raymond Ritchey Receives Award 15,163 Units
What Happened
Raymond A. Ritchey, Senior Executive Vice President of the general partner, was awarded 15,163 LTIP units (reported as a derivative acquisition) on February 13, 2026. The units are reported at $0.25 each for a reported value of $3,791. This is an award/vesting under Boston Properties’ 2023 Multi‑Year Long‑Term Incentive Program, not an open‑market purchase or sale.
Key Details
- Transaction date: February 13, 2026; Form 4 filed February 17, 2026 (report shows the transaction date and the filing date).
- Transaction type/code: A (award/acquisition); derivative LTIP Units.
- Price/value: 15,163 units × $0.25 = $3,791 (reported value).
- Shares owned after transaction: Not stated in the provided filing details.
- Notable footnotes:
- F1: LTIP Units were earned under the 2023 Multi‑Year LTIP.
- F2: LTIP Units may be converted to Common OP Units and can be redeemed for cash equal to the fair market value of BXP stock or exchanged (at BXP’s election) for one share of BXP common stock.
- F3: Earned LTIP Units vested in full upon being earned but are subject to a post‑vesting holding period (generally not transferable and redemption rights not exercisable until one year after vesting).
- F4: The filing notes the forfeiture of 14,391 LTIP Units originally issued Feb 7, 2023 that had been previously reported as beneficially owned but remained subject to performance vesting and were forfeited.
Context
LTIP Units are performance‑based derivative awards rather than outright stock purchases; they vest upon meeting performance hurdles and include conversion and holding restrictions. Awards like this are compensation events and do not by themselves indicate that the insider is buying or selling company stock in the open market.
Insider Transaction Report
- Award
LTIP Units
[F1][F2][F3][F4]2026-02-13$0.25/sh+15,163$3,791→ 93,357 total→ Common OP Units (15,163 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 14,391 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.