BXP (BXP) HR chief Donna Garesche awarded 3,401 LTIP Units in equity grant

Rhea-AI Filing Summary

BXP, Inc. executive Donna D. Garesche, EVP and Chief HR Officer, reported an equity-based award of derivative securities. On January 30, 2026, she was granted 3,401 LTIP Units at $0.25 per unit, bringing her directly held derivative holdings to 45,399 LTIP Units.

These LTIP Units represent limited partnership interests in Boston Properties Limited Partnership and can ultimately be converted into units redeemable for cash equal to the fair market value of one share of BXP common stock, or, at the issuer’s election, one share of common stock per unit. The 3,401 LTIP Units vest in four equal annual installments beginning January 15, 2027, aligning compensation with long-term performance.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider Garesche Donna D

Role EVP, Chief HR Officer

Type	Security	Shares	Price	Value
Grant/Award	LTIP Units	3,401	$0.25	$850.25

Holdings After Transaction: LTIP Units — 45,399 shares (Direct)

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 3,401 LTIP Units vest in four equal annual installments beginning on January 15, 2027.

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^*

Garesche Donna D

(Last) (First) (Middle)

C/O BXP

800 BOYLSTON STREET

(Street)

BOSTON MA 02199

(City) (State) (Zip)

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

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

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	EVP, Chief HR Officer

3. Date of Earliest Transaction (Month/Day/Year)
01/30/2026

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

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

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

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)	01/30/2026		A		3,401		(1)(2)	(1)	Common Stock, par value $0.01	3,401	$0.25	45,399	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 3,401 LTIP Units vest in four equal annual installments beginning on January 15, 2027.

Remarks:

	/s/ Kelli A. DiLuglio, as Attorney-in-Fact	02/02/2026
	** 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.

FAQ

What insider transaction did BXP (BXP) report for Donna D. Garesche?

BXP reported that EVP and Chief HR Officer Donna D. Garesche received 3,401 LTIP Units on January 30, 2026. These derivative units were priced at $0.25 each and increased her directly held LTIP Units to 45,399 following the transaction.

What are the LTIP Units granted to the BXP executive on January 30, 2026?

The LTIP Units are limited partnership interests in Boston Properties Limited Partnership issued under BXP’s equity incentive programs. Each LTIP Unit can convert into a Common OP Unit, which may then be redeemed for cash or, at BXP’s election, one share of BXP common stock.

How many LTIP Units does the BXP EVP, Chief HR Officer, hold after this Form 4 transaction?

After the January 30, 2026 grant, Donna D. Garesche beneficially owns 45,399 LTIP Units directly. This total reflects the addition of 3,401 newly awarded LTIP Units reported in the Form 4 derivative securities table.

What is the vesting schedule for the 3,401 LTIP Units reported by BXP (BXP)?

The 3,401 LTIP Units vest in four equal annual installments, beginning on January 15, 2027. This schedule spreads vesting over four years, tying the executive’s compensation to longer-term performance and continued service with BXP.

Do the LTIP Units reported in the BXP Form 4 have an expiration date?

The LTIP Units reported do not have an expiration date. According to the disclosure, these units remain outstanding and may be converted into Common OP Units, which can then be redeemed for cash or BXP common stock, at the issuer’s election.

How can the LTIP Units reported for BXPs EVP ultimately relate to BXP common stock?

Each LTIP Unit can be converted into a Common OP Unit at the election of BPLP or the holder. Each Common OP Unit may then be redeemed for cash equal to the fair market value of one BXP share, or acquired by BXP for one share of common stock.