SEC Form 4 · accession 0001246991-16-000410
BOSTON PROPERTIES LTD PARTNERSHIP
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Frank D Burt
Officer — Senior Vice President of GP
Period of report
May 16, 2016
Accepted (ET)
May 18, 2016 · 3:23 pm EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001043121
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common OP UnitsF1,F2 | May 16, 2016 | C | 4,573 | — | A | 4,573 | D |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| LTIP UnitsF3 | — | May 16, 2016 | C | 4,573 | D | — | — | Common OP Units | 4,573 | 6,205 | D |
Explanation of responses
- F1Represents common units of limited partnership interest ("Common OP Units") in the Issuer. Each Common OP 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 Boston Properties, Inc. ("BPI"), the Issuer's sole general partner, except that BPI may, at its election, acquire each Common OP Unit so presented for redemption for one share of Common Stock of BPI.
- F24,573 of the Reporting Person's LTIP Units (as defined below) in the Issuer were converted into Common OP Units in the Issuer by the Reporting Person in accordance with the Issuer's Partnership Agreement.
- F3Represents units of limited partnership in the Issuer issued as long term incentive compensation pursuant to BPI's equity based incentive programs ("LTIP Units"). 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. Each Common OP Unit acquired upon conversion of an LTIP Unit may be redeemed, 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 redemption for one share of common stock of BPI. LTIP Units have no expiration date.