BXP (BXP) director Mary E. Kipp receives 3,332 LTIP Unit award

Rhea-AI Filing Summary

KIPP MARY E reported acquisition or exercise transactions in this Form 4 filing.

BXP, Inc. director Mary E. Kipp received an equity-based award of 3,332 LTIP Units on May 29, 2026. These units are a form of limited partnership interest in Boston Properties Limited Partnership that can ultimately be exchanged into common stock or cash based on the stock’s fair market value.

The 3,332 LTIP Units will vest on the earlier of May 29, 2027 or the date of BXP’s 2027 annual meeting of stockholders, tying the award to continued service over roughly a one-year period. Following this grant, Kipp directly holds 13,495 LTIP Units, reinforcing that this filing reflects compensation rather than an open-market share purchase or sale.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider KIPP MARY E

Role null

Type	Security	Shares	Price	Value
Grant/Award	LTIP Units	3,332	$0.25	$833.00

Holdings After Transaction: LTIP Units — 13,495 shares (Direct, null)

Footnotes (1)

1. Represents units of limited partnership interest in Boston Properties Limited Partnership ("BPLP"), of which the Issuer is the general partner, issued pursuant to the Issuer'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 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 common stock. LTIP Units have no expiration date. The 3,332 LTIP Units will vest on the earlier of (i) May 29, 2027 and (ii) the date of the BXP's 2027 annual meeting of stockholders.

Key Figures

LTIP Units granted: 3,332 LTIP Units Grant price per LTIP Unit: $0.25 per unit LTIP Units after grant: 13,495 LTIP Units +2 more

5 metrics

LTIP Units granted 3,332 LTIP Units Equity-based award to director on May 29, 2026

Grant price per LTIP Unit $0.25 per unit Stated transaction price in Form 4

LTIP Units after grant 13,495 LTIP Units Total LTIP Units directly held by Mary E. Kipp post-transaction

Underlying common stock 3,332 shares Underlying BXP common stock linked to granted LTIP Units

Vesting trigger date May 29, 2027 Vests earlier of May 29, 2027 or 2027 annual meeting

Key Terms

LTIP Units, Boston Properties Limited Partnership, Common OP Unit, redemption, +2 more

6 terms

LTIP Units financial

"issued pursuant to the Issuer's equity based incentive programs ("LTIP Units")"

LTIP units are awards given to executives and employees as part of a long-term incentive plan; they act like deferred bonuses that convert into company shares or cash only if the business meets set performance or time requirements. Investors care because LTIP units tie management pay to future results, can increase the number of outstanding shares (dilution) when they vest, and create ongoing compensation expense that can affect earnings and shareholder value.

Boston Properties Limited Partnership financial

"units of limited partnership interest in Boston Properties Limited Partnership ("BPLP")"

Common OP Unit financial

"converted, at the election of BPLP or the holder, into a common unit of limited partnership interest in BPLP ("Common OP Unit")"

redemption financial

"may be presented for redemption, at the election of the holder, for cash equal to the then fair market value"

Redemption is when an issuer or holder settles a financial instrument by paying it off or returning it for cash, such as a bond being paid at maturity or a preferred share bought back by the company. It matters to investors because redemption changes when and how they get their money back, can cut off future income from the investment, and affects the issuer’s cash needs—think of it like a loan being paid off early or a store refunding a returned purchase.

fair market value financial

"for cash equal to the then fair market value of a share of the Issuer's common stock"

The price a willing buyer and a willing seller would agree on for an asset or security when neither is under pressure and both have access to the same information. Think of it as the market’s neutral estimate of what something is worth, like the price two neighbors would settle on for a car after comparing similar listings. Investors care because fair market value guides buying and selling decisions, tax reporting, portfolio valuation, and how accurately company assets are reflected in financial statements.

vest financial

"The 3,332 LTIP Units will vest on the earlier of (i) May 29, 2027"

A vest is the process by which an employee earns the right to receive certain benefits or ownership interests, such as stock or retirement funds, over time. It’s similar to earning a reward gradually, ensuring that the benefit becomes fully yours only after a set period or meeting specific conditions. This makes it important for investors because it determines when they can actually claim or use those benefits.

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Form 4 Insider Transactions: What Each Field Means →

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

KIPP MARY E

(Last) (First) (Middle)

800 BOYLSTON STREET

SUITE 1900

(Street)

BOSTON MASSACHUSETTS 02199

(City) (State) (Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
BXP, Inc. [ BXP ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
05/29/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

4. If Amendment, Date of Original Filed (Month/Day/Year)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
LTIP Units(1)	(1)	05/29/2026		A		3,332		(1)(2)	(1)	Common Stock, par value $0.01	3,332	$0.25	13,495	D

Explanation of Responses:

1. Represents units of limited partnership interest in Boston Properties Limited Partnership ("BPLP"), of which the Issuer is the general partner, issued pursuant to the Issuer'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 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 common stock. LTIP Units have no expiration date.

2. The 3,332 LTIP Units will vest on the earlier of (i) May 29, 2027 and (ii) the date of the BXP's 2027 annual meeting of stockholders.

Remarks:

	/s/ Kelli A. DiLuglio, as Attorney-in-Fact	06/02/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
* Form 4: SEC 1474 (03-26)

FAQ

What insider transaction did BXP (BXP) report for Mary E. Kipp?

BXP reported that director Mary E. Kipp received a grant of 3,332 LTIP Units on May 29, 2026. These equity-based units are part of the company’s incentive programs rather than an open-market stock purchase or sale.

What are LTIP Units in the BXP (BXP) Form 4 filing?

The LTIP Units are units of limited partnership interest in Boston Properties Limited Partnership issued under BXP’s equity incentive programs. Subject to tax allocation conditions, each LTIP Unit can convert into a Common OP Unit, which may then be redeemed for cash or one share of BXP common stock.

When do Mary E. Kipp’s 3,332 BXP LTIP Units vest?

The 3,332 LTIP Units granted to Mary E. Kipp vest on the earlier of May 29, 2027 or the date of BXP’s 2027 annual meeting of stockholders. This links the award to a defined service period and the timing of the company’s 2027 shareholder meeting.

How many LTIP Units does Mary E. Kipp hold after this BXP transaction?

After the May 29, 2026 grant of 3,332 LTIP Units, Mary E. Kipp directly holds a total of 13,495 LTIP Units. This total reflects her post-transaction position in these equity-based partnership units tied to BXP’s operating partnership.

Do Mary E. Kipp’s BXP LTIP Units have an expiration date?

The filing states that LTIP Units have no expiration date. Once granted and vested, they remain outstanding and can later be converted into Common OP Units, which may then be redeemed for cash or BXP common stock under the partnership’s and company’s terms.

Is the BXP (BXP) Form 4 a stock sale or a compensation award?

This Form 4 reflects a compensation-related grant of 3,332 LTIP Units to director Mary E. Kipp, coded as a grant or award acquisition. It does not report an open-market purchase or sale of BXP common stock by the director.