SEC Form 4 · accession 0001246991-16-000373
BOSTON PROPERTIES LTD PARTNERSHIP
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Lori W Silverstein
Officer — SVP, Controller of GP
Period of report
Feb 22, 2016
Accepted (ET)
Feb 23, 2016 · 1:03 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 22, 2016 | A | 231 | A | — | — | Common OP Units | 231 | 2,340 | 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, 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 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.
- 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.