Stroman John J 4

What Happened
John J. Stroman, Executive Vice President of Boston Properties (BXP), was granted 11,597 LTIP units on January 30, 2026. The units were issued at $0.25 each for a total reported value of $2,899. The transaction is reported as an award/grant (derivative transaction).

Key Details

• Transaction date: 2026-01-30; Filing date: 2026-02-02 (timely filed).
• Grant amount and price: 11,597 LTIP units @ $0.25 each; aggregate value $2,899.
• Vesting: The 11,597 LTIP units vest in four equal annual installments beginning January 15, 2027 (per filing).
• Instrument/convertibility: LTIP units are limited partnership interests (derivative units) that may be converted into common OP units and can generally be redeemed for cash equal to the fair market value of a BXP share or, at the issuer's election, exchanged for one share of common stock. LTIP units have no expiration (see footnotes).
• Shares owned after transaction: Not specified in the provided excerpt.
• Transaction code: A (award/grant).

Context
LTIP units are a form of long-term equity compensation rather than an outright cash purchase or sale of stock. They vest over time (multi-year), and conversion/redemption features mean the economic exposure may track the issuer’s common stock value in the future. Such grants are typically part of executive compensation and should be viewed as routine compensation disclosure, not a direct market buy or sell.