John J. Stroman - Executive Vice President - BXP, Inc. - LTIP Units Grant

On December 22, 2025, John J. Stroman, Executive Vice President of BXP, Inc., was granted 42,373 LTIP Units under the 2025 Outperformance Plan. These LTIP Units are subject to performance-based and time-based vesting conditions. The performance-based vesting is tied to the appreciation of BXP's common stock price over a four-year period ending December 22, 2029, with vesting tiers ranging from $90.00 to $118.00. Time-based vesting occurs with one-third vesting on the second anniversary of the grant date and the remaining two-thirds vesting over the subsequent two years, contingent on continued service and achievement of performance conditions. Each LTIP Unit may convert into a common unit of limited partnership interest in Boston Properties Limited Partnership, which can then be redeemed for cash equal to the fair market value of BXP's common stock, or exchanged for one share of BXP common stock at BXP's election. Post-transaction, Stroman holds 93,724 LTIP Units. The acquisition price was $0.25 per share.