BURT FRANK D 4
4 · BOSTON PROPERTIES INC · Filed Nov 15, 2021
Insider Transaction Report
Form 4
BURT FRANK D
Senior Vice President
Transactions
- Conversion
Common Stock, par value $0.01
2021-11-11+2,116→ 2,116 total - Gift
Common Stock, par value $0.01
2021-11-12−2,116→ 0 total - Gift
Common Stock, par value $0.01
2021-11-12+2,116→ 2,116 total(indirect: By Trust) - Sale
Common Stock, par value $0.01
2021-11-15$118.89/sh−2,116$251,578→ 0 total(indirect: By Trust) - Conversion
LTIP Units
2021-11-11$0.25/sh−2,116$529→ 9,011 total→ Common Stock, par value $0.01 (2,116 underlying) - Conversion
Common OP Units
2021-11-11+2,116→ 2,116 total→ Common Stock, par value $0.01 (2,116 underlying) - Conversion
Common OP Units
2021-11-11−2,116→ 0 total→ Common Stock, par value $0.01 (2,116 underlying)
Footnotes (3)
- [F1]2,116 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]Represents units of limited partnership interest in Boston Properties Limited Partnership ("BPLP"), of which the Issuer is the general partner, issued as long term incentive compensation ("LTIP Units") 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 BPLP or the holder, into a common unit of limited partnership interest in BPLP ("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 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.
- [F3]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 its election, acquire each Common OP Unit so presented for redemption for one share of common stock. Common OP Units have no expiration date.