FLASHMAN ARTHUR 4
4 · BOSTON PROPERTIES INC · Filed May 9, 2012
Insider Transaction Report
Form 4
FLASHMAN ARTHUR
Vice President - Controller
Transactions
- Conversion
Common Stock, par value $.01
2012-05-07+1,466→ 2,902 total - Sale
Common Stock, par value $.01
2012-05-08$108.25/sh−1,500$162,375→ 1,402 total - Conversion
LTIP Units
2012-05-07$0.25/sh−1,466$367→ 3,362 total→ Common Stock (1,466 underlying)
Footnotes (2)
- [F1]1,466 of the Reporting Person's units of limited partnership interest in Boston Properties Limited Partnership (BPLP), of which the Issuer is the sole general partner, were converted into common units of limited partnership interest (Common OP Units) in BPLP by the Reporting Person and the Common OP Units were immediately redeemed for an equal number of shares of the Issuer's Common Stock in accordance with BPLP's Partnership Agreement.
- [F2]Represents units of limited partnership interest in BPLP 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 OP Unit. Each Common OP Unit may be redeemed, 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, acquire each Common OP Unit so presented for redemption for one share of Common Stock.