BXP director Tony West receives equity awards

BXP, Inc. director Tony West reported receiving equity awards consisting of common stock and long-term incentive units.

Rhea-AI Filing Summary

BXP, Inc. director Tony West reported receiving equity awards consisting of common stock and long-term incentive units. He was granted 1,666 shares of common stock, bringing his direct common stock holdings to 7,691 shares. He also received 1,666 LTIP Units in Boston Properties Limited Partnership, increasing his LTIP Unit holdings to 4,300 units.

Each LTIP Unit can, after certain tax-related conditions are met, be converted into a common partnership unit, which may then be redeemed for cash equal to the value of one BXP common share or, at BXP’s election, exchanged for one share of common stock. The 1,666 LTIP Units will vest on the earlier of May 29, 2027, or the date of BXP’s 2027 annual meeting of stockholders.

Insider Trade Summary

Grant/Award: 3,332 shares

Grant/Award 2 txns

Insider West Tony

Role Director

Type	Security	Shares	Price	Value
Grant/Award	LTIP Units	1,666	$0.25	$416.50
Grant/Award	Common Stock, par value $0.01	1,666	$0.00	$0.00

Holdings After Transaction: LTIP Units — 4,300 contracts (Direct); Common Stock, par value $0.01 — 7,691 shares (Direct)

Footnotes (2)

1. F1. 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. F2. The 1,666 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

Common stock granted: 1,666 shares Common stock holdings after grant: 7,691 shares LTIP Units granted: 1,666 units +3 more

6 metrics

Common stock granted 1,666 shares Award of BXP common stock on May 29, 2026

Common stock holdings after grant 7,691 shares Direct BXP common stock held by Tony West after transaction

LTIP Units granted 1,666 units LTIP Units in Boston Properties Limited Partnership granted May 29, 2026

LTIP Units holdings after grant 4,300 units Total LTIP Units held by Tony West after the reported award

LTIP Units vesting date Earlier of May 29, 2027 or 2027 annual meeting Vesting schedule for 1,666 LTIP Units

LTIP Unit grant price reference $0.25 per unit Reported transaction price per LTIP Unit in the Form 4

Key Terms

LTIP Units, Boston Properties Limited Partnership, Common OP Unit, redemption, +1 more

5 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

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

Common OP Unit financial

"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")."

redemption financial

"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"

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.

equity based incentive programs financial

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

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What insider transaction did BXP (BXP) director Tony West report?

Tony West reported receiving equity awards from BXP, including 1,666 shares of common stock and 1,666 LTIP Units. These awards are compensation-related grants rather than open-market purchases or sales, and increase his direct holdings in both common stock and partnership units.

How many BXP common shares does Tony West hold after this Form 4 filing?

After the reported grant, Tony West directly holds 7,691 shares of BXP common stock. This reflects the addition of 1,666 granted shares disclosed in the filing, which were awarded at no cash cost per share as part of director compensation.

What are LTIP Units reported in the BXP (BXP) Form 4 for Tony West?

LTIP Units are limited partnership interests in Boston Properties Limited Partnership, BXP’s operating partnership. After this grant, West holds 4,300 LTIP Units, which under certain conditions can convert into common partnership units and be redeemed for cash or exchanged for BXP common stock.

When do Tony West’s newly granted BXP LTIP Units vest?

The 1,666 newly granted LTIP Units will vest on the earlier of May 29, 2027, or the date of BXP’s 2027 annual meeting of stockholders. Vesting means the units become non-forfeitable, subject to the award’s terms and conditions under BXP’s equity incentive programs.

Did Tony West buy or sell BXP shares on the open market in this filing?

The Form 4 shows no open-market buys or sells. Instead, it reports grant or award acquisitions of 1,666 BXP common shares and 1,666 LTIP Units as compensation. Transaction code “A” indicates an award or other acquisition rather than a market trade.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 06/02/2026 - 10:13 AM Learn about SEC filing dates

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^*

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)

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
Common Stock, par value $0.01	05/29/2026		A		1,666	A	$0	7,691	D

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		1,666		(1)(2)	(1)	Common Stock, par value $0.01	1,666	$0.25	4,300	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 1,666 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)