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BXP, Inc. (BXP) director Tony West awarded 351.63 phantom stock units

Filing Impact
(Neutral)
Filing Sentiment
(Neutral)
Form Type
4

Rhea-AI Filing Summary

West Tony reported acquisition or exercise transactions in this Form 4 filing.

BXP, Inc. director Tony West received a grant of 351.63 Phantom Stock Units on BXP common stock. The units were awarded at an assigned value of $66.31 per unit, increasing his directly held Phantom Stock Unit balance to 4,798.71 units.

These Phantom Stock Units were granted under BXP's 2021 Stock Incentive Plan to a non-employee director who elected to receive units instead of cash director fees. Each unit is convertible into one share of BXP common stock, generally after the director retires from the Board, with fractional units settled in cash.

The filing notes that the total includes 52.62 Phantom Stock Units credited on April 30, 2026 pursuant to dividend equivalent rights, which mirror dividends paid on BXP common shares by increasing the phantom balance.

Positive

  • None.

Negative

  • None.
Insider West Tony
Role null
Type Security Shares Price Value
Grant/Award Phantom Stock Units 351.63 $66.31 $23K
Holdings After Transaction: Phantom Stock Units — 4,798.71 shares (Direct, null)
Footnotes (1)
  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 52.62 Phantom Stock Units received pursuant to dividend equivalent rights which were credited to the Reporting Person on April 30, 2026.
Phantom Stock Units granted 351.63 units Grant to non-employee director on 2026-06-30
Assigned value per unit $66.31 per unit Value used for 351.63 Phantom Stock Units grant
Total Phantom Stock Units after grant 4,798.71 units Director’s balance following the transaction
Dividend-equivalent units included 52.62 units Credited on April 30, 2026 via dividend equivalent rights
Phantom Stock Units financial
"The Phantom Stock Units convert to BXP, Inc. ("BXP") common stock on a 1-for-1 basis."
Phantom stock units are company promises that pay a cash or stock-equivalent award tied to the firm’s share price or value growth, but they do not issue actual shares. Think of them as a bonus check that moves with the stock like a mirror rather than handing over an ownership slice. Investors care because these awards can affect a company’s future cash obligations, executive incentives and reported expenses without causing share dilution.
2021 Stock Incentive Plan financial
"The Phantom Stock Units are awarded under BXP's 2021 Stock Incentive Plan to non-employee directors..."
dividend equivalent rights financial
"Includes 52.62 Phantom Stock Units received pursuant to dividend equivalent rights which were credited..."
Dividend equivalent rights are promises that mirror the cash payments shareholders get from a company’s profits, but they are paid to holders of certain awards (like stock options or restricted stock units) rather than to actual shares. Think of them as a paycheck top‑up that matches dividends while the award is not yet a real stock, and they matter to investors because they add to employee compensation costs and potential share dilution, affecting company profitability and per‑share value.
measurement funds financial
"may make one or more elections to convert...to a deemed investment in one or more measurement funds."
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Form 4 Insider Transactions: What Each Field Means →
SEC Form 4
FORM 4UNITED 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*
West Tony
(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)
XDirector10% Owner
Officer (give title below)Other (specify below)
2a. Foreign Trading Symbol
3. Date of Earliest Transaction (Month/Day/Year)
06/30/2026		6. Individual or Joint/Group Filing (Check Applicable Line)
XForm 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)
CodeVAmount(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)
CodeV(A)(D)Date ExercisableExpiration DateTitleAmount or Number of Shares
Phantom Stock Units(1)06/30/2026A351.63 (2) (2)Common Stock, par value $0.01351.63$66.314,798.71(3)D
Explanation of Responses:
1. The Phantom Stock Units convert to BXP, Inc. ("BXP") common stock on a 1-for-1 basis.
2. 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.
3. Includes 52.62 Phantom Stock Units received pursuant to dividend equivalent rights which were credited to the Reporting Person on April 30, 2026.
Remarks:
/s/ Kelli A. DiLuglio, as Attorney-in-Fact07/01/2026
** Signature of Reporting PersonDate
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)

Source: View Original Filing on SEC EDGAR

FAQ

What did BXP (BXP) director Tony West report in this Form 4?

Tony West reported receiving 351.63 Phantom Stock Units tied to BXP common stock. These units were granted under BXP’s 2021 Stock Incentive Plan as compensation in lieu of cash director fees, increasing his total Phantom Stock Units to 4,798.71.

How do BXP (BXP) Phantom Stock Units work for Tony West?

Each Phantom Stock Unit converts into one share of BXP common stock. The units are generally settled in shares after Tony West retires from the Board, with any fractional units paid in cash according to the plan’s settlement terms.

Why did Tony West receive Phantom Stock Units instead of cash from BXP (BXP)?

Under BXP’s 2021 Stock Incentive Plan, non-employee directors can elect Phantom Stock Units instead of cash director fees. Tony West chose this option, so his director cash compensation fees were delivered as 351.63 Phantom Stock Units for this period.

What is the significance of the $66.31 value in Tony West’s BXP grant?

The 351.63 Phantom Stock Units were awarded at an assigned value of $66.31 per unit. This value is used to determine the notional size of the award but does not represent an open-market purchase or sale by Tony West.

How and when will Tony West’s BXP Phantom Stock Units be settled?

The Phantom Stock Units are scheduled to be settled after Tony West retires from BXP’s Board. They may be paid in a lump sum or ten annual installments in BXP common shares, with fractional units settled in cash under the plan rules.

What are the dividend equivalent rights mentioned in BXP (BXP) Tony West’s filing?

Dividend equivalent rights credit additional Phantom Stock Units when BXP pays dividends on its common stock. Tony West’s balance includes 52.62 extra units credited on April 30, 2026, reflecting dividends notionally re-invested into his Phantom Stock Unit account.