Frank D. Burt - Nov 11, 2021 Form 4 Insider Report for BOSTON PROPERTIES LTD PARTNERSHIP (N/A)

Role: Senior Vice President of GP
Signature: /s/ Kelli A. DiLuglio, as Attorney-in-Fact
Stock symbol: N/A
Transactions as of: Nov 11, 2021
Transactions value $: -$529
Form type: 4
Date filed: 11/15/2021, 03:54 PM
Previous filing: Jun 10, 2021
Next filing: Feb 1, 2022

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	N/A	Common OP Units	Conversion of derivative security		+2.12K			2.12K	Nov 11, 2021	Direct	F1, F2
transaction	N/A	Common OP Units	Conversion of derivative security		-2.12K	-100%		0	Nov 11, 2021	Direct	F1, F2

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Underlying Class	Amount	Exercise Price	Ownership	Footnotes
transaction	N/A	LTIP Units	Conversion of derivative security	-$529	-2.12K	-19.02%	$0.25^*	9.01K	Nov 11, 2021	Common OP Units	2.12K		Direct	F2, F3

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	Represents common units of limited partnership interest ("Common OP Units") in the Issuer. Each Common OP 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 common stock of Boston Properties, Inc. ("BXP"), the Issuer's sole general partner, except that BXP may at its election, acquire each Common OP Unit so presented for redemption for one share of common stock of BXP.
F2	2,116 of the Reporting Person's units of limited partnership interest ("LTIP Units") in the Issuer were converted into Common OP Units in the Issuer by the Reporting Person and the Common OP Units were redeemed for an equal number of shares of common stock of BXP, in accordance with the terms of the Issuer's Partnership Agreement.
F3	Represents LTIP Units in the Issuer issued as long term incentive compensation pursuant to BXP's equity based incentive programs. 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 the Issuer or the holder, into a 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 common stock of BXP, except that BXP may, at its election, acquire each Common OP Unit so presented for one share of BXP's common stock. LTIP Units have no expiration date.