LABELLE MICHAEL E 4
4 · BOSTON PROPERTIES LTD PARTNERSHIP · Filed Feb 2, 2026
Research Summary
AI-generated summary of this filing
Boston Properties (BXP) EVP/CFO Michael Labelle Receives Award
What Happened
Michael E. Labelle, EVP and CFO of BXP, received a grant of 23,194 LTIP units (derivative units) on January 30, 2026. The units were recorded at $0.25 each for a total reported value of $5,799. This was an equity-based award (transaction code A) under the issuer’s long-term incentive programs, not an open-market purchase or sale.
Key Details
- Transaction date: 2026-01-30; Form 4 filed: 2026-02-02 (timely filing).
- Instrument: 23,194 LTIP Units; price reported $0.25/unit; total $5,799. (Derivative award.)
- Vesting: Units vest in four equal annual installments beginning January 15, 2027.
- Conversion/redemption: LTIP Units may be converted into common OP Units and those may be redeemable for cash equal to the fair market value of BXP common stock or, at BXP’s election, exchanged for one share of BXP common stock. LTIP Units have no expiration.
- Shares owned after transaction: Not disclosed in the filing.
Context
This was a compensation grant (award of LTIP units) rather than a market purchase or sale. Such grants are common for executives and generally subject to future vesting and conversion rules before any cash or stock value is realized. No late filing or sales were indicated.
Insider Transaction Report
Form 4
LABELLE MICHAEL E
EVP and CFO of GP
Transactions
- Award
LTIP Units
[F1][F2]2026-01-30$0.25/sh+23,194$5,799→ 323,983 total→ Common OP Units (23,194 underlying)
Footnotes (2)
- [F1]Represents units of limited partnership in the Issuer issued pursuant to BXP, 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 presented for redemption, 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 23,194 LTIP Units vest in four equal annual installments beginning on January 15, 2027.
Signature
/s/ Kelli A. DiLuglio, as Attorney-in-Fact|2026-02-02