SEC Form 4 · accession 0001246991-16-000473
BXP, Inc. · BXP
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Martin Turchin
Director
Period of report
Jun 14, 2016
Accepted (ET)
Jun 16, 2016 · 12:55 pm EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001037540
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common Stock, par value $.01F1 | Jun 14, 2016 | C | 1,049 | — | A | 4,361 | D | |
| Common Stock, par value $.01 | holding | — | — | — | 500 | I | By Trust | |
| Common Stock, par value $.01 | holding | — | — | — | 500 | I | By spouse |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| LTIP UnitsF2 | — | Jun 14, 2016 | C | 1,409 | D | — | — | Common Stock | 1,409 | 961 | D |
| Common OP UnitsF3,F1 | — | Jun 14, 2016 | C | 1,049 | A | — | — | Common Stock | 1,049 | 1,049 | D |
| Common OP UnitsF3,F1 | — | Jun 14, 2016 | C | 1,049 | D | — | — | Common Stock | 1,049 | 0 | D |
Explanation of responses
- F11,049 of the Reporting Person's units of limited partnership interest ("LTIP Units") in Boston Properties Limited Partnership ("BPLP"), of which the Issuer is the sole 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 immediately redeemed for an equal number of shares of the Issuer's Common Stock in accordance with BPLP's Partnership Agreement.
- F2Represents 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 the holder, into Common OP Units in BPLP. 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.
- F3Represents Common OP Units in BPLP. Each Common OP Unit may be presented for redemption, at the election of the holder, for cash equal to the 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 Common Stock. Common OP Units have no expiration date.