JOHNSTON PETER D 4
4 · BOSTON PROPERTIES INC · Filed Feb 12, 2020
Insider Transaction Report
Form 4
JOHNSTON PETER D
Senior Vice President
Transactions
- Conversion
LTIP Units
2020-02-11$0.25/sh−17,178$4,295→ 30,077 total→ Common Stock, par value $0.01 (17,178 underlying) - Conversion
Common Stock, par value $0.01
2020-02-11+17,178→ 33,326.981 total - Conversion
Common OP Units
2020-02-11+17,178→ 30,162 total→ Common Stock, par value $0.01 (17,178 underlying) - Conversion
Common OP Units
2020-02-11−17,178→ 12,984 total→ Common Stock, par value $0.01 (17,178 underlying)
Footnotes (4)
- [F1]17,178 of the Reporting Person's units of limited partnership interest ("LTIP Units") 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 redeemed for an equal number of shares of the Issuer's Common Stock in accordance with BPLP's Partnership Agreement.
- [F2]Includes 43.104155 shares which the Reporting Person acquired in January 2020 pursuant to the Boston Properties, Inc. 1999 Non-Qualified Employee Stock Purchase Plan.
- [F3]Represents LTIP Units in BPLP, of which the Issuer is the general partner, issued as long term incentive compensation 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 in BPLP. Each Common OP Unit acquired upon conversion of an LTIP Unit may be presented for redemption, at the election of the holder, for cash equal to the then 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 one share of Common Stock. LTIP Units have no expiration date.
- [F4]Represents Common OP Units in BPLP. Each Common OP 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 it's election, acquire each Common OP Unit so presented for redemption for one share of Common Stock. Common OP Units have no expiration date.