Form 4: BXP Board Member Receives 347.32 Deferred Stock Units
Rhea-AI Filing Summary
BXP, Inc. (ticker BXP) filed a Form 4 disclosing that non-employee director Tony West acquired 347.32 Phantom Stock Units (PSUs) on 06/30/2025 under the company’s 2021 Stock Incentive Plan. Each PSU is economically equivalent to one share of BXP common stock and carried a reference price of $67.47. Following the award, West beneficially owns 3,141.91 PSUs. The units, together with 42.32 dividend-equivalent PSUs, will settle in BXP shares (or cash for fractions) in a lump sum or up to ten annual installments after the director retires from the board. No open-market cash was exchanged and no traditional shares were bought or sold; the transaction represents deferred, stock-settled compensation.
The filing is routine for board compensation and does not signal a shift in insider sentiment or company fundamentals. It modestly increases the director’s equity-linked exposure, aligning interests with shareholders, but has no immediate dilutive or cash-flow impact on BXP.
Positive
- Director equity alignment increases as Tony West adds 347.32 PSUs, marginally strengthening shareholder-director interest alignment.
Negative
- None.
Insights
TL;DR: Routine director compensation; negligible market impact.
The award of 347 PSUs (≈$23.4 k fair value) to Director Tony West is part of BXP’s standard deferred-fee program. Because settlement occurs only after board retirement and units convert 1-for-1 to shares, there is no near-term dilution or cash cost. The director’s total PSU balance rises to ~3,142 units (≈$212 k), increasing alignment but remaining immaterial relative to BXP’s ~158 million shares outstanding. Investors should view this as housekeeping rather than a signal on future performance.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Phantom Stock Units | 347.32 | $67.47 | $23K |
Footnotes (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 42.32 Phantom Stock Units received pursuant to dividend equivalent rights which were credited to the Reporting Person on April 30, 2025.
