SEC Form 4 · accession 0001246991-15-000131
BOSTON PROPERTIES LTD PARTNERSHIP
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Mortimer B Zuckerman
Director
Period of report
Feb 18, 2015
Accepted (ET)
Feb 18, 2015 · 5:19 pm EST
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001043121
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 18, 2015 | A | 41,464 | A | — | — | Common OP Units | 41,464 | 633,627 | D |
Explanation of responses
- F1Represents units of limited partnership interest in the Issuer earned (i.e., for which the performance-based hurdles have been met) pursuant to Boston Properties, Inc.'s (BPI's), the Issuer's sole general partner's, 2012 Outperformance Plan (the "Plan").
- 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 the Issuer (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 Common Stock of BPI, except that BPI may, at its election, acquire each Common OP Unit so presented for one share of BPI's Common Stock. LTIP Units have no expiration date.
- F3With respect to the 41,464 LTIP Units earned pursuant to the Plan, 25% of such LTIP Units may not be transferred (nor may any Common OP Units issued upon conversion of such LTIP Units be redeemed) until February 7, 2016 and 50% of such LTIP Units may not be transferred (nor may any Common OP Units issued upon conversion of such LTIP Units be redeemed) until February 7, 2017.