SEC Form 4 · accession 0001246991-17-000059

BXP, Inc. · BXP

Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗

Reporting owner

Frank D Burt

Officer — Senior Vice President

Period of report

Feb 13, 2017

Accepted (ET)

Feb 14, 2017 · 3:20 pm EST

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 $0.01^F1	Feb 13, 2017	C	2,523	—	A	2,523	D
Common Stock, par value $0.01	Feb 13, 2017	G	2,523	$0.00	D	0	D
Common Stock, par value $0.01	Feb 13, 2017	G	2,523	$0.00	A	2,523	I	By The Burt Family Trust - 1993

Table II — derivative securities

Security	Conv. / exercise price	Date	Code	Shares	A/D	Exercisable	Expires	Underlying	Underlying shares	Owned after	D/I
LTIP Units^F2	—	Feb 13, 2017	C	2,523	D	—	—	Common Stock, par value $0.01	2,523	5,492	D
Common OP Units^F3,F1	—	Feb 13, 2017	C	2,523	A	—	—	Common Stock, par value $0.01	2,523	2,523	D
Common OP Units^F3,F1	—	Feb 13, 2017	C	2,523	D	—	—	Common Stock, par value $0.01	2,523	0	D

Explanation of responses

F12,523 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 in 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.
F2Represents units of limited partnership interest in BPLP issued as long term incentive compensation 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 a Common OP Unit 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.