BOSTON PROPERTIES LTD PARTNERSHIP 4
4 · BOSTON PROPERTIES LTD PARTNERSHIP · Filed Jun 1, 2017
Insider Transaction Report
Form 4
FRENKEL JACOB A
Director
Transactions
- Award
LTIP Units
2017-05-31$0.25/sh+1,050$263→ 6,432 total→ Common OP Units (1,050 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 1,050 LTIP Units will vest on the earlier of (i) May 31, 2018 and (ii) the date of Boston Properties, Inc.'s 2018 annual meeting of stockholders.