0001246991-24-000186.txt : 20240214
0001246991-24-000186.hdr.sgml : 20240214
20240214103005
ACCESSION NUMBER: 0001246991-24-000186
CONFORMED SUBMISSION TYPE: 4
PUBLIC DOCUMENT COUNT: 1
CONFORMED PERIOD OF REPORT: 20240212
FILED AS OF DATE: 20240214
DATE AS OF CHANGE: 20240214
REPORTING-OWNER:
OWNER DATA:
COMPANY CONFORMED NAME: PESTER ROBERT E
CENTRAL INDEX KEY: 0001217108
ORGANIZATION NAME:
FILING VALUES:
FORM TYPE: 4
SEC ACT: 1934 Act
SEC FILE NUMBER: 001-13087
FILM NUMBER: 24633762
MAIL ADDRESS:
STREET 1: BOSTON PROPERTIES, INC.
STREET 2: FOUR EMBARCADERO CENTER
CITY: SAN FRANCISCO
STATE: CA
ZIP: 94111
ISSUER:
COMPANY DATA:
COMPANY CONFORMED NAME: BOSTON PROPERTIES INC
CENTRAL INDEX KEY: 0001037540
STANDARD INDUSTRIAL CLASSIFICATION: REAL ESTATE INVESTMENT TRUSTS [6798]
ORGANIZATION NAME: 05 Real Estate & Construction
IRS NUMBER: 042473675
STATE OF INCORPORATION: DE
FISCAL YEAR END: 1231
BUSINESS ADDRESS:
STREET 1: 800 BOYLSTON STREET
STREET 2: SUITE 1900
CITY: BOSTON
STATE: MA
ZIP: 02199
BUSINESS PHONE: 6172363300
MAIL ADDRESS:
STREET 1: 800 BOYLSTON STREET
STREET 2: SUITE 1900
CITY: BOSTON
STATE: MA
ZIP: 02199
4
1
wk-form4_1707924595.xml
FORM 4
X0508
4
2024-02-12
0
0001037540
BOSTON PROPERTIES INC
BXP
0001217108
PESTER ROBERT E
C/O BOSTON PROPERTIES, INC.
FOUR EMBARCADERO CENTER
SAN FRANCISCO
CA
94111
0
1
0
0
Executive Vice President
0
LTIP Units
2024-02-12
4
A
0
6851
0.25
A
Common Stock, par value $.01
6851
101361
D
Represents units of limited partnership interest in Boston Properties Limited Partnership ("BPLP"), of which the Issuer is the general partner, earned (i.e., for which the performance-based hurdles have been met) pursuant to the Issuer's 2021 Multi-Year Long-Term Incentive Program (the "Program").
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 BPLP or the holder, into a common unit of limited partnership interest in BPLP ("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 the Issuer's common stock, except that the Issuer may, at its election, acquire each Common OP Unit so presented for one share of the Issuer's common stock. LTIP Units have no expiration date.
The 6,851 LTIP Units earned pursuant to the Program vested in full upon being earned. Each earned LTIP Unit and Common OP Unit acquired upon conversion of such LTIP Unit is subject to an additional post-vesting holding period pursuant to which such LTIP Unit and Common OP Unit generally may not be transferred, and the redemption right associated with the Common OP Unit may not be exercised, until one year after the vesting date.
Reflects the forfeiture of 5,632 LTIP Units originally issued on February 2, 2021 pursuant to the Program that were previously reported as beneficially owned by the Reporting Person, but remained subject to certain performance-based vesting hurdles based on the Issuer's total shareholder return for the period from February 2, 2021 to February 1, 2024.
/s/ Kelli A. DiLuglio, as Attorney-in-Fact
2024-02-14