BXP (BXP) director Joel Klein receives 3,332 LTIP Units equity award

Filing Impact

(Neutral)

Filing Sentiment

(Neutral)

Form Type

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

1 transaction reported

Mixed 1 txn

Insider KLEIN JOEL

Role null

Type	Security	Shares	Price	Value
Grant/Award	LTIP Units	3,332	$0.25	$833.00

Holdings After Transaction: LTIP Units — 22,839 shares (Direct, null)

Footnotes (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. 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

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.

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Form 4 Insider Transactions: What Each Field Means →

06/02/2026 - 10:13 AM

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^*

KLEIN JOEL

(Last)

(First)

(Middle)

BXP

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)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)

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)
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)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
LTIP Units⁽¹⁾	⁽¹⁾	05/29/2026		A		3,332		⁽¹⁾⁽²⁾	⁽¹⁾	Common Stock, par value $0.01	3,332	$0.25	22,839	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 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.

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)

Source: View Original Filing on SEC EDGAR

FAQ

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.

Is Joel Klein’s Form 4 transaction a market buy or sell of BXP shares?

No, the filing shows a grant of 3,332 LTIP Units, not an open-market trade. The transaction is coded as an acquisition by grant under BXP’s equity incentive plans, so it reflects compensation rather than a discretionary stock purchase or sale in the public market.