POWERS JOHN FRANCIS 4
4 · BOSTON PROPERTIES LTD PARTNERSHIP · Filed Feb 3, 2020
Insider Transaction Report
Form 4
POWERS JOHN FRANCIS
SVP of General Partner
Transactions
- Award
LTIP Units
2020-01-31$0.25/sh+8,161$2,040→ 35,756 total→ Common OP Units (8,161 underlying)
Footnotes (2)
- [F1]Issued as long term incentive compensation 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 8,161 LTIP Units were fully vested upon issuance as a result of the Reporting Person's attainment of age 65.