Stockholders' Equity / Partners' Capital

3 Months Ended

Mar. 31, 2023

Equity [Abstract]

Stockholders' Equity / Partners' Capital

9. Stockholders’ Equity / Partners’ Capital

As of March 31, 2023, BXP had 156,829,793 shares of Common Stock outstanding.

As of March 31, 2023, BXP owned 1,754,892 general partnership units and 155,074,901 limited partnership units in BPLP.

On May 22, 2020, BXP renewed its “at the market” (“ATM”) stock offering program through which it may sell from time to time up to an aggregate of $600.0 million of its Common Stock through sales agents over a three-year period. Under the ATM stock offering program, BXP may also engage in forward sale transactions with affiliates of certain sales agents for the sale of its Common Stock on a forward basis. This program replaced BXP’s prior $600.0 million ATM stock offering program that was scheduled to expire on June 2, 2020. BXP intends to use the net proceeds from any offering for general business purposes, which may include investment opportunities and debt reduction. No shares of Common Stock have been issued under this ATM stock offering program.

During the three months ended March 31, 2023, BXP did not issue any shares of Common Stock upon the exercise of options to purchase Common Stock. As a result of the exercise period ending on February 1, 2023, 49,359 options were forfeited.

During the three months ended March 31, 2023, BXP issued 5,188 shares of Common Stock in connection with the redemption of an equal number of redeemable OP Units from limited partners.

The following table presents BXP’s dividends per share and BPLP’s distributions per OP Unit and LTIP Unit paid or declared in 2023 and during the three months ended March 31, 2022:

Record Date	Payment Date	Dividend (Per Share)	Distribution (Per Unit)
March 31, 2023	April 28, 2023	$0.98	$0.98
December 30, 2022	January 30, 2023	$0.98	$0.98
March 31, 2022	April 29, 2022	$0.98	$0.98
December 31, 2021	January 28, 2022	$0.98	$0.98