JOHNSTON PETER D 4
4 · BOSTON PROPERTIES LTD PARTNERSHIP · Filed Feb 20, 2020
Insider Transaction Report
Form 4
JOHNSTON PETER D
Senior Vice President of GP
Transactions
- Award
LTIP Units
2020-02-18$0.25/sh+3,772$943→ 33,849 total→ Common OP Units (3,772 underlying)
Footnotes (3)
- [F1]Represents units of limited partnership interest in the Issuer earned (i.e., for which the performance-based hurdles have been met) pursuant to Boston Properties, Inc.'s ("BPI's"), the Issuer's sole general partner's, 2017 Multi-Year Long-Term Incentive Program (the "Program").
- [F2]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 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 BPI, except that BPI may, at its election, acquire each Common OP Unit so presented for one share of BPI's Common Stock. LTIP Units have no expiration date.
- [F3]The 3,772 LTIP Units earned pursuant to the Program vested 50% upon being earned and 50% will vest on February 6, 2021.