BOSTON PROPERTIES LTD PARTNERSHIP 4
4 · BOSTON PROPERTIES LTD PARTNERSHIP · Filed May 26, 2016
Insider Transaction Report
Form 4
PATRICOF ALAN J
Director
Transactions
- Award
LTIP Units
2016-05-24$0.25/sh+1,013$253→ 4,023 total→ Common OP Units (1,013 underlying)
Footnotes (2)
- [F1]Issued pursuant to Boston Properties, Inc.'s ("BPI"), the Issuer's general partner, 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 the Issuer ("Common OP Unit"). Each Common OP 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 common stock of BPI except that BPI may, at its election, acquire each Common OP Unit so presented for redemption for one share of common stock of BPI. LTIP Units have no expiration date.
- [F2]The 1,013 LTIP Units will vest on the earlier of (i) May 24, 2017 and (ii) the date of Boston Properties, Inc.'s 2017 annual meeting of stockholders.