POWERS JOHN FRANCIS 4
4 · BOSTON PROPERTIES LTD PARTNERSHIP · Filed Feb 19, 2020
Insider Transaction Report
Form 4
POWERS JOHN FRANCIS
SVP of General Partner
Transactions
- Conversion
Common OP Units
2020-02-18+14,318→ 14,318 total - Conversion
Common OP Units
2020-02-18−14,318→ 0 total - Conversion
LTIP Units
2020-02-18$0.25/sh−14,318$3,580→ 21,438 total→ Common OP Units (14,318 underlying)
Footnotes (3)
- [F1]Represents common units of limited partnership interest ("Common OP Units") in the Issuer. Each Common OP 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 Common Stock of Boston Properties, Inc. ("BPI"), the Issuer's sole general partner, except that BPI may, at its election, acquire each Common OP Unit so presented for redemption for one share of Common Stock of BPI.
- [F2]14,318 of the Reporting Person's units of limited partnership interest ("LTIP Units") in the Issuer were converted into Common OP Units in the Issuer by the Reporting Person and the Common OP Units were redeemed for an equal number of shares of Common Stock of BPI, in accordance with the terms of the Issuer's Partnership Agreement.
- [F3]Issued as long term incentive compensation pursuant to BPI's, 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 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.