BOSTON PROPERTIES INC 4
4 · BOSTON PROPERTIES INC · Filed May 27, 2010
Insider Transaction Report
Form 4
ISEMAN FREDERICK J
Director
Transactions
- Award
LTIP Units
2010-05-25$0.25/sh+868$217→ 2,939 total→ Common Stock (868 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 pursuant to the Issuer's equity based incentive 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 (a "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 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 redemption for one share of Common Stock.
- [F2]The 868 LTIP Units vest over two years with (1) 50% vesting on the earlier of (i) May 25, 2011 and (ii) the date of the Issuer's 2011 annual meeting of stockholders and (2) 50% vesting on the earlier of (i) May 25, 2012 and (ii) the date of the Issuer's 2012 annual meeting of stockholders.