Walsh Michael R. 4

What Happened Michael R. Walsh, SVP and Chief Accounting Officer of the issuer's general partner, was granted 4,638 LTIP units on January 30, 2026. The units were reported at $0.25 each for a total grant value of $1,160. This was an award/grant (not an open-market purchase or sale) as part of equity-based compensation.

Key Details

• Transaction date: January 30, 2026; Filing date: February 2, 2026 (timely).
• Price per unit: $0.25; Total reported value: $1,160.
• Transaction code: A (award/grant); classified as a derivative (LTIP Units).
• Shares/units owned after the transaction: not disclosed in this filing.
• Footnotes: See below for conversion, redemption, and vesting details.

Context

• LTIP Units (footnote 1): units of limited partnership issued under BXP, Inc.'s equity incentive programs. Each LTIP Unit may be converted (by holder or issuer) into a common OP Unit, which can be redeemed for cash equal to the fair market value of a BXP common share or, at BXP's election, exchanged for one share of BXP common stock. LTIP Units have no expiration.
• Vesting (footnote 2): the 4,638 LTIP Units vest in four equal annual installments beginning January 15, 2027.
• Interpretation: This is a routine equity compensation grant to an executive — not a purchase or sale — and therefore is generally a compensation matter rather than a direct market sentiment signal.