Otteni Peter V 4

What Happened

• Peter V. Otteni, Executive Vice President of the issuer's general partner, was granted 7,731 LTIP units (derivative award) on January 30, 2026. The award price reported is $0.25 per unit, for a nominal total value of $1,933. This was an equity award (code A), i.e., compensation, not an open‑market purchase or sale.

Key Details

• Transaction date and type: 2026-01-30 — Grant/Award of LTIP units (code A).
• Price and value: $0.25 per LTIP Unit; total reported value $1,933.
• Vesting: 7,731 LTIP Units vest in four equal annual installments beginning January 15, 2027. (See footnote F2.)
• Post-transaction holdings: Not specified in the provided filing.
• Footnote on unit mechanics: LTIP Units are convertible into common OP units and may be redeemed for cash equal to BXP common stock FMV or converted/settled in BXP shares at BXP’s election; LTIP Units have no expiration. (See footnote F1.)
• Filing timeliness: Report filed 2026-02-02 for a 2026-01-30 transaction — within the Form 4 filing window.

Context

• These LTIP Units are a compensation award (routine for executives) and are a derivative form of equity that can convert into partnership/common units or be settled for cash/equity later; they are not an immediate cash investment or sale. Vesting over four years means the recipient must remain employed for units to vest according to the schedule.