[Form 4] BXP, Inc. Insider Trading Activity
Rhea-AI Filing Summary
Mary E. Kipp, a director of BXP, reported a grant of 369.92 Phantom Stock Units on 09/30/2025 under BXP's 2021 Stock Incentive Plan. The phantom units convert 1-for-1 into BXP common shares and are to be settled in shares (or cash for fractional amounts) either in a lump sum or in up to ten annual installments at the director's election following retirement from the board. The filing shows 6,866.94 shares beneficially owned after the award and notes 95.88 of the units were dividend equivalents credited on July 31, 2025. Phantom units may be notionally invested in measurement funds after service ends and those amounts would be settled in cash.
Positive
- None.
Negative
- None.
Insights
TL;DR: Director received equity-settled phantom units that increase share-equivalent holdings and align compensation with shareholder value.
The award of 369.92 Phantom Stock Units increases the reporting person's beneficial ownership to 6,866.94 share equivalents, reflecting ongoing board compensation in equity rather than cash. Because the units convert 1-for-1 to common stock and include dividend equivalents, the grant provides a direct economic link to BXP's share performance. Settlement elections (lump sum or up to ten annual installments) and the option to notionally invest in measurement funds introduce flexibility in payout form but do not change the underlying economic exposure to BXP's stock or potential cash settlement for certain elections.
TL;DR: Standard director equity grant with deferred settlement features consistent with good governance practices to align long-term incentives.
The grant structure—phantom stock units under the 2021 Stock Incentive Plan, conversion on a 1-for-1 basis, dividend equivalent crediting, and post-service investment elections—matches common practices for non-employee director compensation. These features promote alignment between directors and shareholders by tying compensation to stock value while offering retirement-timed liquidity options. The filing cleanly discloses the acquisition date and the nature of settlement options; no governance red flags are evident from the disclosed terms alone.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Phantom Stock Units | 369.92 | $74.34 | $27K |
Footnotes (1)
- The Phantom Stock Units convert to BXP, Inc. ("BXP") common stock on a 1-for-1 basis. The Phantom Stock Units are awarded under BXP's 2021 Stock Incentive Plan to non-employee directors who elected to receive Phantom Stock Units in lieu of director cash compensation fees. The Phantom Stock Units are to be settled in shares of BXP common stock (except that fractional units, if any, will be settled in cash) in a lump sum or in ten annual installments, at the reporting person's election, following the reporting person's retirement from the BXP Board of Directors. In addition, non-employee directors who elect a deferred payout following their retirement may make one or more elections to convert all or a portion (but only in 25% increments) of their notional investment from BXP common stock to a deemed investment in one or more measurement funds. These elections may only be made after the director's service on the BXP Board of Directors ends. Amounts notionally invested in measurement funds will be settled in cash instead of BXP common stock. Includes 95.88 Phantom Stock Units received pursuant to dividend equivalent rights which were credited to the Reporting Person on July 31, 2025.
