XML 67 R53.htm IDEA: XBRL DOCUMENT v3.22.1
Stock Option and Incentive Plan (Narrative) (Details) - MYLTIP 2022
$ in Millions
Feb. 01, 2022
USD ($)
shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Share-based Compensation Arrangement by Share-based Payment Award, Terms of Award The 2022 MYLTIP awards consist of two, equally weighted (50% each) components that utilize BXP’s TSR over a three-year measurement period as the performance metric. The first component of the 2022 MYLTIP represents one-half (50%) of the target grant-date value of the award. The number of LTIP Units that can be earned under this component ranges from zero to 200% of the target number of LTIP Units, based on BXP’s three-year, annualized relative TSR performance compared to a custom index of peer companies. Under this component, 100% of the target number of LTIP Units will be earned if BXP’s TSR equals the custom index TSR; for relative TSR performance between -1,000 basis points and +1,000 basis points, the number of LTIP Units earned will be determined using linear interpolation.The second component represents the remaining one-half (50%) of the target grant-date value of the 2022 MYLTIP. The number of LTIP Units that can be earned under this component ranges from zero to 200% of the target number of LTIP Units, based on BXP’s non-annualized, cumulative absolute TSR during the three-year performance period. Under this component, 100% of the target number of LTIP Units will be earned if BXP achieves an absolute TSR equal to +1,000 basis points; if BXP’s absolute TSR is greater than -4,000 basis points but less than +6,000 basis points, then the number of LTIP Units earned will be determined using linear interpolation.
Distributions percent before measurement date 10.00%
Vesting Period 3 years
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights Earned awards (if any) will vest 100% on January 31, 2025, but may not be converted, redeemed, sold or otherwise transferred for one additional year thereafter. Vesting will be accelerated in the event of a change in control, termination of employment by BXP without cause, or termination of employment by the award recipient for good reason, death, disability or retirement. If there is a change of control prior to January 31, 2025, earned awards will be calculated based on TSR performance up to the date of the change of control.
Value of MYLTIP Awards | $ $ 17.3
Minimum [Member] | Boston Properties Limited Partnership  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Common stock available for issuance 0
Maximum [Member] | Boston Properties Limited Partnership  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Common stock available for issuance 254,061
Target | Boston Properties Limited Partnership  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Common stock available for issuance 127,031