NORVILLE E MITCHELL 4
4 · BOSTON PROPERTIES INC · Filed Feb 2, 2010
Insider Transaction Report
Form 4
NORVILLE E MITCHELL
EVP, COO
Transactions
- Award
LTIP Units
2010-01-29$0.25/sh+25,435$6,359→ 123,609 total→ Common Stock (25,435 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 incentive compensation pursuant 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 OP Unit). Each Common OP Unit acquired upon conversion of a 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 the Issuer's Common Stock, except that the Issuer may, at its election as directed by BPLP, acquire each Common OP Unit so presented for one share of Common Stock.
- [F2]The 25,435 LTIP Units vest in four equal annual installments beginning on January 15, 2011.