BOSTON PROPERTIES INC 4
4 · BOSTON PROPERTIES INC · Filed May 20, 2008
Insider Transaction Report
Form 4
SALOMON RICHARD E
Director
Transactions
- Award
LTIP Units
2008-05-19$0.25/sh+649$162→ 3,070 total→ Common Stock (649 underlying)
Footnotes (2)
- [F1]Represents units of limited partnership interest in Boston Properties Limited Partnership (BPLP), of which the Issuer is the general partner, issued as long term incetive compensation pursant to the Issuer's equity based compensatory programs. 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 holder, into a common unit of limited partnership interest in BPLP (Common Unit). Each Common Unit acquired upon conversion of an LTIP Unit may be redeemed, 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 as directed by BPLP, acquire a Common Unit presented for redemption for one share of Common Stock.
- [F2]The LTIP Units vest over two years with (1) 50% vesting on the earlier of (i) the first anniversary of the date of grant and (ii) the date of the Issuer's 2009 annual meeting of stockholders and (2) 50% vesting on the earlier of (i) the second anniversary of the date of grant and (ii) the date of the Issuer's 2010 annual meeting of stockholders.