Michael R. Walsh - Feb 13, 2023 Form 4 Insider Report for BOSTON PROPERTIES LTD PARTNERSHIP (N/A)

Role
SVP & Chief Acctg. Off. of GP
Signature
/s/ Kelli A. DiLuglio, as Attorney-in-Fact
Stock symbol
N/A
Transactions as of
Feb 13, 2023
Transactions value $
$46
Form type
4
Date filed
2/15/2023, 02:51 PM
Previous filing
Feb 7, 2023
Next filing
Feb 6, 2024

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 Award $46.30 +185 +0.78% $0.25* 24K Feb 13, 2023 Common OP Units 185 Direct F1, F2, F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Represents units of limited partnership interest in the Issuer earned (i.e., for which the performance-based hurdles have been met) pursuant to Boston Properties, Inc.'s ("BXP's"), the Issuer's sole general partner's, 2020 Multi-Year Long-Term Incentive Program (the "Program").
F2 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 unit of limited partnership interest in the Issuer ("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 BXP's common stock, 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.
F3 The 185 LTIP Units earned pursuant to the Program vested 50% upon being earned and 50% will vest on February 3, 2024.