BXP said it entered into an Amended and Restated Employment Agreement with Owen D. Thomas, its CEO and Chairman, on December 22, 2025. The term runs through December 31, 2029. The prior agreement was scheduled to expire on December 31, 2026.

1. 01

   BXP said it entered into an Amended and Restated Employment Agreement with Owen D. Thomas, its CEO and Chairman, on December 22, 2025. The term runs through December 31, 2029. The prior agreement was scheduled to expire on December 31, 2026.

2. 02

   The company set Thomas' annual base salary at $950,000 and his target annual bonus at $2,350,000. The actual bonus may range from 0 to 150% of target, based on the Compensation Committee's evaluation.

3. 03

   The company granted up to 711,864 LTIP Units under the 2025 Outperformance Plan, and Thomas received 211,864 LTIP Units. The Awards are earned at 12.5% once Adjusted Stock Price Performance equals or exceeds $90.00, and at $118.00 they are earned at 100%.

4. 04

   The company said it expects to recognize a total of about $32.1 million in OPP-related compensation expense over the 4-year performance period. It also said its full-year 2026 earnings guidance will include about $11.6 million, or $0.07 per share, of OPP-related compensation expense.

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Original filing

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