SEC Form 4 · accession 0001246991-16-000363
BXP, Inc. · BXP
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Lori W Silverstein
Officer — SVP, Controller
Period of report
Feb 22, 2016
Accepted (ET)
Feb 23, 2016 · 12:59 pm EST
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001037540
Table I — non-derivative securities
No Table I lines on this filing.
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| LTIP UnitsF1,F2,F3 | — | Feb 22, 2016 | A | 231 | A | — | — | Common Stock | 231 | 2,340 | D |
Explanation of responses
- F1Represents units of limited partnership interest in Boston Properties Limited Partnership (BPLP), of which the Issuer is the general partner, earned (i.e., for which the performance-based hurdles have been met) pursuant to the Issuer's 2013 Multi-Year Long-Term Incentive Program (the "Program").
- F2Conditioned 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 the holder, into a common unit of limited partnership interest in BPLP (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 one share of Common Stock. LTIP Units have no expiration date.
- F3The 231 LTIP Units earned pursuant to the Program vested 25% upon being earned, 25% will vest on February 4, 2017 and 50% will vest on February 4, 2018.