Garesche Donna D 4

What Happened

• Donna D. Garesche, Executive Vice President and Chief Human Resources Officer of BXP, received a grant of 3,401 LTIP units (derivative award) on 2026-01-30.
• The units were granted at a reported per-unit price of $0.25, for a total reported value of $850. This is an equity-based compensation award (transaction code A), not an open-market purchase or sale.

Key Details

• Transaction date: 2026-01-30; Form 4 filed 2026-02-02 (timely filing).
• Grant: 3,401 LTIP units at $0.25 per unit; total $850.
• Shares/units owned after the transaction: Not specified in the filing.
• Footnote summary:
  • F1: LTIP units are limited partnership interests in Boston Properties Limited Partnership (BPLP). They can be converted into common OP units and may be redeemed for cash equal to the fair market value of a BXP common share or, at the issuer’s election, exchanged for one share of common stock. LTIP units have no expiration date.
  • F2: The 3,401 LTIP units vest in four equal annual installments beginning January 15, 2027.

Context

• This was an award of derivative units as part of equity-based compensation (routine for executives) rather than a market buy or sell. The units vest over four years, so the economic benefit is deferred and contingent on continued vesting.