Compensation award — excluded from discretionary-purchase analysis.
Written from the filing's own figures. OQRO describes what was reported and never tells you what to buy or sell
View the official recordSEC Form 4 — Statement of Changes in Beneficial OwnershipAll the details
Dates, kept separate
Transaction date
Dec 31, 2025
Reporting period
Not applicable
Filed with the SEC
Jan 6, 2026
DirectorGrant / award
Context
Classification
grant award
Code A — grant or award
Planned / mechanical clue
None found in footnotes
Only flagged when a footnote says so; never inferred
Source receipt
Record ID
0001203367-26-000002
Filed / recorded
Jan 6, 2026, 1:28 AM UTC
Added to OQRO
Oct 2, 2026, 12:27 PM UTC
Parser
form4-xml-v1
Data quality
Verified: identifiers matched exactly
Issuer
BXP, Inc.
Issuer CIK
1037540
Ticker
BXP
Reporting person
Matthew J Lustig
Relationship
Director
Security
Phantom Stock Units
Table
Derivative (Table II)
Transaction date
Dec 31, 2025
Transaction code
A
Shares / units
444.58
Price per share
$67.48
Acquired / disposed
Acquired (A)
Shares owned after
20,032.69
Ownership form
Direct
Amendment
No
Footnotes from the filing
The Phantom Stock Units convert to BXP, Inc. ("BXP") common stock on a 1-for-1 basis.
The Phantom Stock Units are awarded under BXP's 2021 Stock Incentive Plan to non-employee directors who elected to receive Phantom Stock Units in lieu of director cash compensation fees. The Phantom Stock Units are to be settled in shares of BXP common stock (except that fractional units, if any, will be settled in cash) in a lump sum or in ten annual installments, at the reporting person's election, following the reporting person's retirement from the BXP Board of Directors. In addition, non-employee directors who elect a deferred payout following their retirement may make one or more elections to reallocate all or a portion (but only in 25% increments) of their notional investment from BXP common stock to a deemed investment in one or more measurement funds. These elections may only be made after the director's service on the BXP Board of Directors ends. Amounts notionally invested in measurement funds will be settled in cash instead of BXP common stock.
Includes 190.73 Phantom Stock Units received pursuant to dividend equivalent rights which were credited to the reporting person on October 31, 2025.