BXP, Inc. SEC Filings

BXP, Inc. and Boston Properties Limited Partnership reported Q3 2025 results, showing a swing to a quarterly net loss. BXP recorded a net loss attributable to BXP of $121.7 million, or $0.77 per share, compared with net income of $83.6 million a year ago. Total revenue was $871.5 million versus $859.2 million in Q3 2024, as lease revenue rose modestly.

Results were weighed by a $148.3 million loss from unconsolidated joint ventures and $68.9 million of impairment losses, alongside interest expense of $164.3 million. Year‑to‑date, BXP posted net income of $89.2 million. Operating cash flow for the nine months was $837.4 million, while investing used $988.2 million and financing used $245.6 million; cash and escrows ended at $938.7 million. On the balance sheet, unsecured exchangeable senior notes were $975.1 million and unsecured commercial paper was $750.0 million as of September 30, 2025. BXP owned approximately 89.6% of BPLP as of quarter end.

BXP Inc filed a Form 144 notice for a proposed sale of 13,422 common shares. The filing lists an aggregate market value of $965,310.24 and an approximate sale date of 11/07/2025, with trades to be executed on the NYSE through Edward Jones, 201 Progress Parkway, Maryland Heights, MO 63043.

The shares were acquired via stock awards on multiple dates: 02/01/2008 (138), 02/03/2015 (3,668), 02/03/2017 (4,355), 02/01/2019 (2,521), 02/03/2023 (1,228), and 02/02/2024 (1,512). Shares outstanding were 158,375,515 at the time noted in the form.

BXP, Inc. disclosed an insider transaction: the company’s SVP, CLO and Secretary reported a bona fide gift of 100 shares of common stock on 11/06/2025 at a stated price of $0.

Following the transaction, the reporting person beneficially owns 608 shares, held directly. The filing notes the shares were gifted to an unaffiliated non-profit organization.

BXP, Inc., as general partner of Boston Properties Limited Partnership, furnished an Item 2.02 report announcing its financial results for the third quarter ended September 30, 2025. The announcement was made on October 28, 2025.

The company issued a press release and referenced supplemental operating and financial information available on its website. The supplemental information and the press release are attached as Exhibits 99.1 and 99.2, respectively. The Item 2.02 information is being furnished and is not deemed filed under the Exchange Act.

BlackRock, Inc. filed Amendment No. 3 to Schedule 13G disclosing beneficial ownership of 10.0% of BXP, Inc. common stock as of 09/30/2025.

BlackRock reported 15,897,016 shares beneficially owned, with 14,597,498 shares under sole voting power and 15,897,016 under sole dispositive power. The filing states the securities were acquired and are held in the ordinary course of business and not for the purpose of changing or influencing control. It also notes various persons may have rights to dividends or sale proceeds, and no single person’s interest exceeds five percent.

BXP director Bruce W. Duncan received 470.81 Phantom Stock Units on 09/30/2025 that convert to common shares on a 1-for-1 basis. The filing shows 470.81 units granted at an indicated price of $74.34 per share and reports 11,830.21 shares beneficially owned by the reporting person after the award. The grant includes 167.63 Phantom Stock Units credited as dividend equivalents on July 31, 2025. These units were awarded under BXP’s 2021 Stock Incentive Plan for non-employee directors who elected phantom units in lieu of cash, and they settle in shares (or cash for fractions) either as a lump sum or in ten annual installments after the director’s board retirement; deferred payouts may be converted to deemed investments that pay in cash.

Mary E. Kipp, a director of BXP, reported a grant of 369.92 Phantom Stock Units on 09/30/2025 under BXP's 2021 Stock Incentive Plan. The phantom units convert 1-for-1 into BXP common shares and are to be settled in shares (or cash for fractional amounts) either in a lump sum or in up to ten annual installments at the director's election following retirement from the board. The filing shows 6,866.94 shares beneficially owned after the award and notes 95.88 of the units were dividend equivalents credited on July 31, 2025. Phantom units may be notionally invested in measurement funds after service ends and those amounts would be settled in cash.

Tony West, a director of BXP, Inc. (BXP), received 319.48 Phantom Stock Units on 09/30/2025 under BXP's 2021 Stock Incentive Plan. The Phantom Stock Units convert 1-for-1 into BXP common stock and may be settled in shares (or cash for fractional units) either in a lump sum or in up to ten annual installments at the director's election following retirement from the board. The reported balance after the award is 3,508.45 shares, which includes 47.06 units credited as dividend equivalents on July 31, 2025. The filing was submitted by attorney-in-fact and signed on 10/01/2025.

Matthew J. Lustig, a director of BXP, reported on Form 4 that on 09/30/2025 he was awarded 403.55 Phantom Stock Units under BXP's 2021 Stock Incentive Plan. The Phantom Stock Units convert to BXP common stock on a 1-for-1 basis and are to be settled in shares (fractional units, if any, in cash) either in a lump sum or in ten annual installments at the director's election following retirement from the BXP Board. The reported holding includes 280.29 units credited as dividend equivalents on 07/31/2025, and the total beneficially owned following the transaction is 19,397.38 shares. The filing was signed by an attorney-in-fact on 10/01/2025.