BXP director granted 3,332 LTIP Units
KLEIN JOEL reported acquisition or exercise transactions in this Form 4 filing.
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Form Type
4
Rhea-AI Filing Summary
KLEIN JOEL reported acquisition or exercise transactions in this Form 4 filing.
BXP, Inc. director Joel Klein received a grant of 3,332 LTIP Units on May 29, 2026 as equity-based compensation. Each LTIP Unit represents a limited partnership interest in Boston Properties Limited Partnership and is convertible into a common OP unit, which may ultimately be redeemable for cash or one share of BXP common stock. Following this award, Klein holds 22,839 LTIP Units directly. The 3,332 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
1 txn
Insider
KLEIN JOEL
Role
Director
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | LTIP Units | 3,332 | $0.25 | $833.00 |
Holdings After Transaction:
LTIP Units — 22,839 contracts (Direct)
Footnotes (2)
- 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.
- F2. The 3,332 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
LTIP Units granted: 3,332 LTIP Units
Price per LTIP Unit: $0.25 per unit
Underlying common stock: 3,332 shares
+2 more
5 metrics
LTIP Units granted
3,332 LTIP Units
Grant on May 29, 2026
Price per LTIP Unit
$0.25 per unit
Grant valuation
Underlying common stock
3,332 shares
Underlying BXP common stock equivalent
Total LTIP Units after grant
22,839 LTIP Units
Holdings following transaction
Vesting date trigger
May 29, 2027
Vests on earlier of this date or 2027 annual meeting
Key Terms
LTIP Units, Boston Properties Limited Partnership, Common OP Unit, redemption, +1 more
5 terms
LTIP Units financial
"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")."
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"), of which the Issuer is the general partner, issued pursuant to the Issuer's equity based incentive programs."
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 of a share of the Issuer's common stock."
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.
vest financial
"The 3,332 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."
A vest is the process by which an employee earns the right to receive certain benefits or ownership interests, such as stock or retirement funds, over time. It’s similar to earning a reward gradually, ensuring that the benefit becomes fully yours only after a set period or meeting specific conditions. This makes it important for investors because it determines when they can actually claim or use those benefits.
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What did BXP (BXP) director Joel Klein report in this Form 4?
Joel Klein reported receiving 3,332 LTIP Units as an equity award. These units are derivative securities linked to BXP common stock and increase his total LTIP Unit holdings to 22,839, reflecting routine, compensation-related equity rather than an open-market stock purchase or sale.
When do Joel Klein’s new BXP LTIP Units vest?
The 3,332 LTIP Units granted to Joel Klein vest on the earlier of May 29, 2027 or the date of BXP’s 2027 annual stockholders’ meeting. Vesting means the units become fully earned, subject to the terms of BXP’s equity-based incentive programs.
What are BXP LTIP Units as reported in Joel Klein’s Form 4?
LTIP Units are units of limited partnership interest in Boston Properties Limited Partnership issued under BXP’s equity incentive programs. Subject to tax-related capital account conditions, each LTIP Unit can convert into a common OP unit, which can then be redeemed for cash or BXP common stock.
How can Joel Klein’s LTIP Units ultimately relate to BXP common stock?
Each LTIP Unit may convert into a common OP unit of the operating partnership. Each common OP unit can then be redeemed for cash equal to the fair market value of one BXP share, although BXP may elect instead to deliver one share of its common stock per unit.
AI-generated analysis. How Rhea-AI works. Not financial advice.
