THOMAS OWEN D 4
4 · BOSTON PROPERTIES LTD PARTNERSHIP · Filed Feb 6, 2024
Insider Transaction Report
Form 4
THOMAS OWEN D
DirectorChief Executive Officer of GP
Transactions
- Award
LTIP Units
2024-02-02$0.25/sh+70,654$17,664→ 702,217 total→ Common OP Units (70,654 underlying)
Footnotes (2)
- [F1]Represents units of limited partnership in the Issuer issued as long term incentive compensation pursuant to Boston Properties, Inc.'s ("BXP"), the Issuer's general partner, equity based incentive programs ("LTIP Units"). 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 BXP's common stock except that BXP may, at its election, acquire each Common OP Unit so presented for redemption for one share of BXP's common stock. LTIP Units have no expiration date.
- [F2]The 70,654 LTIP Units were fully vested upon issuance as a result of the Reporting Person's attainment of age 62 and the completion of 10 years of service.