BXP director granted 364 Phantom Stock Units

BXP, Inc. director Julie Richardson received a grant of 364.45 Phantom Stock Units as part of her non-employee director compensation.

Rhea-AI Filing Summary

BXP, Inc. director Julie Richardson received a grant of 364.45 Phantom Stock Units as part of her non-employee director compensation. These units are awarded in lieu of cash fees under BXP's 2021 Stock Incentive Plan and convert into BXP common stock on a 1-for-1 basis.

Following this grant and previously credited amounts, Richardson holds a total of 1,748.07 Phantom Stock Units, including 16.37 units received through dividend equivalent rights credited on April 30, 2026. The Phantom Stock Units will be settled in BXP common stock or cash following her retirement from the board, based on her payout and investment elections.

Insider Trade Summary

Grant/Award: 364.45 shares

Grant/Award 1 txn

Insider Richardson Julie

Role Director

Type	Security	Shares	Price	Value
Grant/Award	Phantom Stock Units	364.45	$66.31	$24K

Holdings After Transaction: Phantom Stock Units — 1,748.07 contracts (Direct)

Footnotes (3)

1. F1. The Phantom Stock Units convert to BXP, Inc. ("BXP") common stock on a 1-for-1 basis.
2. F2. 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. F3. Includes 16.37 Phantom Stock Units received pursuant to dividend equivalent rights which were credited to the Reporting Person on April 30, 2026.

Key Figures

Phantom Stock Units granted: 364.45 units Implied grant price: $66.31 per unit Total Phantom Stock Units after grant: 1,748.07 units +1 more

4 metrics

Phantom Stock Units granted 364.45 units Award on 2026-06-30 under 2021 Stock Incentive Plan

Implied grant price $66.31 per unit Reference price for 364.45 Phantom Stock Units

Total Phantom Stock Units after grant 1,748.07 units Holdings following the 2026-06-30 award

Dividend equivalent units 16.37 units Credited on April 30, 2026 via dividend equivalent rights

Key Terms

Phantom Stock Units, 2021 Stock Incentive Plan, dividend equivalent rights, measurement funds

4 terms

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 16.37 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."

FAQ

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

What insider transaction did BXP director Julie Richardson report on this Form 4?

Julie Richardson reported receiving 364.45 Phantom Stock Units as compensation. The grant is part of BXP’s 2021 Stock Incentive Plan for non-employee directors, issued in lieu of cash fees and tied to the value of BXP common stock.

How do BXP, Inc. Phantom Stock Units work for Julie Richardson?

The Phantom Stock Units convert to BXP common stock on a 1-for-1 basis. They are deferred until after Richardson retires from the board, when they are settled in BXP shares or cash, depending on her payout and investment elections.

What is Julie Richardson’s total Phantom Stock Unit balance with BXP after this grant?

After the 364.45-unit grant, Julie Richardson holds 1,748.07 Phantom Stock Units. This total includes 16.37 units credited on April 30, 2026, from dividend equivalent rights linked to BXP’s dividend payments on common stock.

When will Julie Richardson’s BXP Phantom Stock Units be settled?

Her Phantom Stock Units will be settled after she retires from BXP’s board. At that time, they are paid in a lump sum or ten annual installments, in BXP common stock or cash depending on her prior elections under the plan.

Why did Julie Richardson receive Phantom Stock Units instead of cash from BXP?

BXP’s 2021 Stock Incentive Plan allows non-employee directors to elect Phantom Stock Units in lieu of cash fees. Richardson chose this option, aligning part of her compensation with BXP’s share value rather than receiving immediate cash payments.

Can BXP Phantom Stock Units for Julie Richardson be converted into other investments?

After her board service ends, Richardson may elect to convert all or part of her notional investment from BXP stock into measurement funds. Amounts invested in these funds are settled in cash instead of BXP common stock at payout.

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

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Accepted by SEC EDGAR 07/01/2026 - 10:59 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^*

Richardson Julie

(Last) (First) (Middle)

800 BOYLSTON STREET

(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)
06/30/2026

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
Phantom Stock Units	(1)	06/30/2026		A		364.45		(2)	(2)	Common Stock, par value $0.01	364.45	$66.31	1,748.07(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 16.37 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-Fact	07/01/2026
	** 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)