LABELLE MICHAEL E 4
4 · BXP, Inc. · Filed Feb 17, 2026
Research Summary
AI-generated summary of this filing
BXP CFO Michael E. LaBelle Receives LTIP Award
What Happened Michael E. LaBelle, EVP and Chief Financial Officer of BXP, was granted/earned 7,736 LTIP units (derivative units) on 2026-02-13 at a reported per-unit amount of $0.25, a total reported value of $1,934. This filing reflects an award/vesting of performance-based long‑term incentive units (not an open‑market purchase or sale).
Key Details
- Transaction date: 2026-02-13; filing date: 2026-02-17 (filing appears timely).
- Instrument/type: LTIP Units (derivative award) — reported as "A" (Award/Grant).
- Price/value: $0.25 per unit; total reported value $1,934.
- Shares owned after transaction: not specified in the provided filing excerpt.
- Notable footnotes:
- F1: Units are limited partnership interests in Boston Properties Limited Partnership earned under the 2023 Multi‑Year LTIP (performance hurdles met).
- F2: LTIP Units may be converted to Common OP Units and generally can be redeemed for cash equal to the fair market value of a BXP share, or BXP may elect to exchange for one share of common stock. LTIP Units have no expiration.
- F3: Earned LTIP Units vested in full but are subject to a one‑year post‑vesting holding period during which transfer/redemption rights are restricted.
- F4: The filing also reflects forfeiture of 7,343 LTIP Units originally issued on Feb 7, 2023 that had been previously reported but remained subject to performance vesting.
Context This was an earned, performance‑based award that vested — essentially compensation — rather than a market purchase or sale. For retail investors, such awards indicate management was credited under company performance metrics, but they do not by themselves signal a buy/sell decision by the insider. The units are derivatives with conversion/redemption mechanics and a one‑year post‑vesting holding restriction.
Insider Transaction Report
- Award
LTIP Units
[F1][F2][F3][F4]2026-02-13$0.25/sh+7,736$1,934→ 324,376 total→ Common Stock, par value $.01 (7,736 underlying)
Footnotes (4)
- [F1]Represents units of limited partnership interest in Boston Properties Limited Partnership ("BPLP"), of which the Issuer is the general partner, earned (i.e., for which the performance-based hurdles have been met) pursuant to the Issuer's 2023 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 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 the Issuer's common stock. LTIP Units have no expiration date.
- [F3]The LTIP Units earned pursuant to the Program vested in full upon being earned. Each earned LTIP Unit and Common OP Unit acquired upon conversion of such LTIP Unit is subject to an additional post-vesting holding period pursuant to which such LTIP Unit and Common OP Unit generally may not be transferred, and the redemption right associated with the Common OP Unit may not be exercised, until one year after the vesting date.
- [F4]Reflects the forfeiture of 7,343 LTIP Units originally issued on February 7, 2023 pursuant to the Program that were previously reported as beneficially owned by the Reporting Person, but remained subject to certain performance-based vesting hurdles based on the Issuer's total shareholder return for the period from February 7, 2023 to February 6, 2026.