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Filing Details

Accession Number:: 0001246991-21-000255
Form Type:: 4
Zero Holdings:: No
Publication Time:: 2021-11-24 13:54:19
Reporting Period:: 2021-11-23

Accepted Time:: 2021-11-24 13:54:19
SEC Url:: Form 4 Filing

Issuer

Cik	Name	Symbol	Sector (SIC)	IRS No
1037540	Boston Properties Inc	BXP	Real Estate Investment Trusts (6798)	042473675

Insiders

Cik	Name	Reported Address	Insider Title	Director	Officer	Large Shareholder	Other
1217102	T Douglas Linde	C/O Boston Properties, Inc. 800 Boylston Street Boston MA 02199	President	Yes	Yes	No	No

Reported Non-Derivative Transactions

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Sec. Name	Acquisiton - Disposition	Date	Amount	Price	Remaning Holdings	Equity Swap Involved	Form Type	Code	Nature of Ownership
Common Stock, Par Value $0.01	Acquisiton	2021-11-23	34,476	$100.77	215,239	No	4	M	Direct
Common Stock, Par Value $0.01	Disposition	2021-11-23	23,436	$118.32	191,803	No	4	S	Direct
Common Stock, Par Value $0.01	Disposition	2021-11-23	11,040	$119.14	180,763	No	4	S	Direct

Equity Swap Involved	Form Type	Code	Nature of Ownership
No	4	M	Direct
No	4	S	Direct
No	4	S	Direct

Reported Derivative Transactions

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Sec. Name	Sec. Type	Acquisiton - Disposition	Date	Amount	Price	Amount - 2	Price - 2
Common Stock, Par Value $0.01	Employee Stock Option (right to buy)	Disposition	2021-11-23	34,476	$0.00	34,476	$100.77

Remaning Holdings	Exercise Date	Expiration Date	Equity Swap Involved	Transaction Form Type	Transaction Code	Nature of Ownership
0		2022-02-03	No	4	M	Direct

Reported Non-Derivative Holdings

Sec. Name	Remaning Holdings	Nature of Ownership	Explanation
Common Stock, Par Value $0.01	2,100	Indirect	By children
Common Stock, Par Value $0.01	700	Indirect	By spouse

Footnotes

Represents the weighted average sale price. These shares were sold in multiple transactions at sale prices ranging from $117.690 to $118.685, inclusive. The Reporting Person undertakes to provide upon request by the U.S. Securities and Exchange Commission staff, the Issuer, or a security holder of the Issuer, full information regarding the number of shares sold at each separate price.
Represents the weighted average sale price. These shares were sold in multiple transactions at sale prices ranging from $118.690 to $119.615, inclusive. The Reporting Person undertakes to provide upon request by the U.S. Securities and Exchange Commission staff, the Issuer, or a security holder of the Issuer, full information regarding the number of shares sold at each separate price.
In (1) January 2014, the Issuer paid a special dividend of $2.25 per share of Common Stock to all stockholders of record as of the close of business on December 31, 2013, (2) January 2015, the Issuer paid a special dividend of $4.50 per share of Common Stock to all stockholders of record as of the close of business on December 31, 2014 and (3) January 2016, the Issuer paid a special dividend of $1.25 per share of Common Stock to all stockholders of record as of the close of business on December 31, 2015. In connection with these special dividends, the Issuer's Board of Directors adjusted all options that were awarded, but not exercised, prior to the ex-dividend date for each special dividend to account for the effect of each special dividend. The number of shares subject to each such option was increased and the exercise price correspondingly decreased such that each option had the same fair value to the holder before and after giving effect to the payment of each special dividend.
Pursuant to the adjustments described in Footnote 3, the number of shares underlying Mr. Linde's options increased by (1) 714 from 32,295 to 33,009 in January 2014, (2) 1,135 from 33,009 to 34,144 in January 2015 and (3) 332 from 34,144 to 34,476 in January 2016 and the per share exercise price was correspondingly decreased.
The option vested in four equal annual installments beginning on January 15, 2013.