BXP, Inc. (BXP) SVP awarded 3,827 LTIP Units vesting from 2027

Rhea-AI Filing Summary

BXP, Inc. reported that officer Eric G. Kevorkian, its SVP, CLO and Secretary, received an award of 3,827 LTIP Units of Boston Properties Limited Partnership on January 30, 2026 at $0.25 per unit. These LTIP Units vest in four equal annual installments starting on January 15, 2027 and are convertible into partnership units that may ultimately be redeemed for cash or shares of BXP common stock. Following this grant, Kevorkian beneficially owns 44,305.91 derivative securities on a direct basis.

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

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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^*

Kevorkian Eric G

(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)
	SVP, CLO and Secretary

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		3,827		(1)(2)	(1)	Common Stock, par value $0.01	3,827	$0.25	44,305.91	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 3,827 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).
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FAQ

What insider transaction did BXP officer Eric G. Kevorkian report?

Eric G. Kevorkian reported receiving 3,827 LTIP Units linked to BXP on January 30, 2026. These units are equity-based awards in Boston Properties Limited Partnership that can convert into OP units and ultimately be redeemed for cash or BXP common stock, subject to plan terms.

How do the 3,827 LTIP Units reported for BXP vest?

The 3,827 LTIP Units vest in four equal annual installments beginning January 15, 2027. This means one-quarter of the award becomes vested each year over four years, aligning the officer’s compensation with longer-term performance and continued service to BXP and its operating partnership.

What are LTIP Units in relation to BXP’s operating partnership?

LTIP Units are units of limited partnership interest in Boston Properties Limited Partnership, BXP’s operating partnership. Subject to tax allocation conditions, 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.

What ownership level did Eric Kevorkian report after this BXP LTIP grant?

After receiving the 3,827 LTIP Units, Eric Kevorkian reported beneficial ownership of 44,305.91 derivative securities. This figure reflects his total derivative equity interests related to BXP held directly, as disclosed in the Form 4 following the January 30, 2026 LTIP Unit grant transaction.

What was the reported price per LTIP Unit in the BXP Form 4 filing?

The Form 4 reports a price of $0.25 per LTIP Unit for the 3,827 LTIP Units granted. This price reflects the value used for reporting purposes under the equity incentive program and does not necessarily equal the market price of BXP common stock on the grant date.

Is the LTIP Unit award to the BXP officer a direct or indirect holding?

The LTIP Unit award is reported as directly owned by Eric Kevorkian. The Form 4 marks the ownership form as “D” for direct, and there is no footnote indicating that the units are held through another entity or that beneficial ownership is disclaimed.