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AI brief of an SEC Form 8-K · BXP (BXP)

BXP extends CEO Owen Thomas's employment agreement through December 31, 2029

Neutral Impact 3 of 5 leadership Written later

BXP amended and restated the employment agreement of CEO and Chairman Owen D. Thomas, extending his term through December 31, 2029, from a previous expiration in December 2026. The company also granted equity awards under a 2025 Outperformance Plan to Mr. Thomas and other senior leaders, which vest only if BXP's dividend-adjusted stock price reaches set levels, and it expects about $11.6 million of related expense in 2026.

Key points

  • Term runs from December 22, 2025 through December 31, 2029; base salary stays at $950,000 and target bonus is $2,350,000
  • Outperformance Plan grants could total up to 711,864 LTIP Units; Mr. Thomas's grant is 211,864 units at maximum
  • Awards require a dividend-adjusted stock price of at least $90.00 for 20 consecutive trading days to earn any units; maximum requires $118.00
  • BXP expects about $32.1 million of OPP compensation expense over four years, including about $11.6 million, or $0.07 per share, in 2026

The filing

CompanyBXP (BXP)
Form8-K, current report
Filed with the SECDec 22, 2025, 5:17 PM ET
Accession number0001037540-25-000027

Items reported: 5.02 Director / Officer Change7.01 Regulation FD Disclosure

Read the filing on SEC.gov ↗

Written by AI on Nov 8, 2026, 12:56 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on December 22, 2025.

Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.