Form 4: BXP Executive Donna D. Garesche Acquires 5,211 LTIP Units

Executive Vice President and Chief Human Resources Officer of BXP, Donna D. Garesche, acquired 5,211 LTIP units on January 31, 2025.

Summary

• Donna D. Garesche, an EVP and Chief HR Officer at BXP, acquired 5,211 LTIP units on January 31, 2025.
• These LTIP units are part of BXP's equity-based incentive program and represent a limited partnership interest in Boston Properties Limited Partnership (BPLP).
• Each LTIP unit can be converted into a common unit of BPLP, which can then be redeemed for cash or BXP common stock.
• The LTIP units vest in four equal annual installments starting January 15, 2026.
• Following the transaction, Ms. Garesche directly owns 25,187 shares of BXP common stock.

Sentiment

Score: 7

Explanation: The document reflects a routine executive compensation transaction, which is generally positive for aligning interests but not a major market-moving event.

Positives

• The acquisition of LTIP units aligns the executive's interests with the company's performance.
• The vesting schedule of the LTIP units encourages long-term commitment from the executive.

Industry Context

The granting of LTIP units is a common practice in the real estate industry to incentivize executives and align their interests with the company's long-term performance.

Comparison to Industry Standards

• Many real estate companies use LTIP units or similar equity-based compensation to reward executives.
• The vesting schedule of four years is a typical timeframe for such grants.
• Companies like Vornado Realty Trust (VNO) and SL Green Realty Corp (SLG) also utilize similar equity-based incentive programs for their executives.

Stakeholder Impact

• The acquisition of LTIP units by the executive aligns her interests with those of shareholders.
• The vesting schedule encourages long-term value creation for shareholders.

Key Dates

Keywords

LTIP Units, BXP, Executive Compensation, Equity Incentive, Form 4, Boston Properties, BPLP, Donna D. Garesche