John J. Stroman - 07 Aug 2025 Form 4 Insider Report for BXP, Inc. (BXP)

Role: Executive Vice President
Signature: /s/ Kelli A. DiLuglio, as Attorney-in-Fact
Issuer symbol: BXP
Transactions as of: 07 Aug 2025
Net transactions value: -$4,210
Form type: 4
Filing time: 07 Aug 2025, 13:53:14 UTC
Previous filing: 05 Feb 2025
Next filing: 12 Nov 2025
SEC: View on sec.gov

Reporting Owners (1)

Name	Relationship	Address	Signature	Signature date	CIK
Stroman John J	Executive Vice President	2200 PENNSYLVANIA AVENUE NW, SUITE 200W, WASHINGTON	/s/ Kelli A. DiLuglio, as Attorney-in-Fact	07 Aug 2025	0001862860

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	BXP	Common Stock, par value $0.01	Conversion of derivative security		+16,838			16,838	07 Aug 2025	Direct	F1

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	BXP	LTIP Units	Conversion of derivative security	$4,210	-16,838	-25%	$0.2500	51,351	07 Aug 2025	Common Stock, par value $0.01	16,838		Direct	F1, F2
transaction	BXP	Common OP Units	Conversion of derivative security		+16,838			16,838	07 Aug 2025	Common Stock, par value $0.01	16,838		Direct	F1, F3
transaction	BXP	Common OP Units	Conversion of derivative security		-16,838	-100%		0	07 Aug 2025	Common Stock, par value $0.01	16,838		Direct	F1, F3

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

Explanation of Responses:

Id	Content
F1	16,838 of the reporting person's units of limited partnership interest ("LTIP Units") in Boston Properties Limited Partnership ("BPLP"), of which the Issuer is the general partner, were converted into common units of limited partnership interest ("Common OP Units") in BPLP by the reporting person and the Common OP Units were redeemed for an equal number of shares of the Issuer's common stock in accordance with BPLP's Partnership Agreement.
F2	Represents units of limited partnership interest in BPLP, issued as long term incentive compensation ("LTIP Units") pursuant to the Issuer'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 BPLP 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 the Issuer's common stock, except that the Issuer may, at its election, acquire each Common OP Unit so presented for one share of common stock. LTIP Units have no expiration date.
F3	Represents Common OP Units in BPLP. 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 the Issuer's common stock, except that the Issuer may, at its election, acquire each Common OP Unit so presented for redemption for one share of the Issuer's common stock. Common OP Units have no expiration date.