Otteni Peter V 4
4 · BXP, Inc. · Filed May 18, 2026
Research Summary
AI-generated summary of this filing
BXP EVP Peter V. Otteni Receives 4,863 Shares via LTIP Conversion
What Happened Peter V. Otteni, Executive Vice President of BXP, converted 4,863 LTIP units in Boston Properties Limited Partnership (BPLP) and received 4,863 shares of BXP common stock on May 15, 2026. The Form 4 shows multiple conversion (derivative) entries; one derivative-disposition line reports 4,863 units at $0.25 per unit for $1,216. No cash purchase price for the acquired shares is reported (N/A).
Key Details
- Transaction date: May 15, 2026; Form 4 filed May 18, 2026 (filed within required timeframe).
- Primary effect: 4,863 LTIP Units were converted into Common OP Units and those Common OP Units were redeemed for 4,863 shares of BXP common stock.
- Reported cash line: a derivative-disposition entry of 4,863 units at $0.25 per unit = $1,216 is included in the filing.
- Shares owned after the transaction: not specified in the data provided in this summary.
- Filing timeliness: timely (filed within required business-day window).
Context
- These were conversions of LTIP Units (limited partnership interest units issued under BXP’s equity incentive plans). Per the filing footnotes, LTIP Units can be converted into Common OP Units, and Common OP Units may be redeemed for cash equal to fair market value or, at the issuer’s election, exchanged for one share of the issuer’s common stock. In this case the conversion/redemption resulted in shares being issued.
- This is not a market purchase or open-market sale; it reflects an internal conversion/redemption of incentive units into company stock rather than a buy/sell decision in the public market.
Insider Transaction Report
Form 4
BXP, Inc.BXP
Otteni Peter V
Executive Vice President
Transactions
- Conversion
Common Stock, par value $0.01
[F1]2026-05-15+4,863→ 4,863 total - Conversion
LTIP Units
[F2][F1]2026-05-15$0.25/sh−4,863$1,216→ 94,515 total→ Common Stock, par value $0.01 (4,863 underlying) - Conversion
Common OP Units
[F3][F1]2026-05-15+4,863→ 4,863 total→ Common Stock, par value $0.01 (4,863 underlying) - Conversion
Common OP Units
[F3][F1]2026-05-15−4,863→ 0 total→ Common Stock, par value $0.01 (4,863 underlying)
Footnotes (3)
- [F1]4,863 of the reporting person's units of limited partnership interest ("LTIP Units") in Boston Properties Limited Partnership ("BPLP"), of which the Issuer is the general partner, were converted into common units of limited partnership interest ("Common OP Units") in BPLP by the reporting person and the Common OP Units were redeemed for an equal number of shares of the Issuer's common stock in accordance with BPLP's Partnership Agreement.
- [F2]Represents LTIP Units in BPLP issued pursuant to the Issuer's equity based incentive programs. 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 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 redemption for one share of the Issuer's common stock. LTIP Units have no expiration date.
- [F3]Represents Common OP Units in BPLP. Each Common OP Unit may be presented for redemption, at the election of the holder, for cash equal to 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 redemption for one share of the Issuer's Common Stock. Common OP Units have no expiration date.
Signature
/s/ Kelli A. DiLuglio, as Attorney-in-Fact|2026-05-18