BURT FRANK D 4
4 · BOSTON PROPERTIES LTD PARTNERSHIP · Filed Feb 1, 2022
Insider Transaction Report
Form 4
BURT FRANK D
Senior Vice President of GP
Transactions
- Award
LTIP Units
2022-01-28$0.25/sh+2,294$574→ 11,305 total→ Common OP Units (2,294 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 Issuer or 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 2,294 LTIP Units vest in four equal annual installments beginning on January 15, 2023.