CEO Owen Thomas was paid $23,047,305 in fiscal year 2025, ↑ up 79.4% from fiscal year 2024, the 99th percentile of its disclosed peer group (SEC filing 0001037540-26-000010 ↗): executive and director compensation, incentive-plan design, equity activity, and governance — every figure in this brief is traceable to its exact location in the company’s SEC filing — the document, the section, the page, and the table, linked directly.
$23,047,305 ↑ Owen Thomas total, FY2025 | 99th CEO pay percentile vs peers | 164.5:1 CEO-to-median pay ratio | 68.8% Say-on-pay support, latest vote |
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BXP's next annual pay disclosure, estimated April 11, 2027.est. Filing ↗
| Named executive officer | Salary | Bonus | Stock awards | Option awards | Non-equity incentive | Pension / NQDC | All other | Total |
|---|---|---|---|---|---|---|---|---|
| Owen Thomas | $950,000 | $0 | $19,317,943 | $0 | $2,758,900 | — | $20,462 | $23,047,305 |
| Chief Executive Officer | ||||||||
| Douglas Linde | 800,000 | 0 | 13,167,709 | 0 | 2,230,600 | — | 41,465 | 16,239,774 |
| President | ||||||||
| Michael LaBelle | 550,000 | 0 | 6,105,584 | 0 | 1,467,500 | — | 31,385 | 8,154,469 |
| Executive Vice President Chief Financial Officer & Treasurer | ||||||||
| Bryan Koop | 450,000 | 0 | 4,194,012 | 0 | 1,548,750 | — | 40,315 | 6,233,077 |
| Executive Vice President, Boston Region | ||||||||
| Hilary Spann | 450,000 | 0 | 4,146,107 | 0 | 1,151,000 | — | 19,998 | 5,767,105 |
| Executive Vice President, New York Region | ||||||||
A dash means the company reported no figure in that column; 0 means it reported zero. Figures are as printed in the filing, without adjustment.
| Named executive officer | FY2025 total | FY2024 total | FY2023 total | Δ FY2024→2025 |
|---|---|---|---|---|
| Owen Thomas | $23,047,305 | $12,844,078 | $12,963,964 | ↑ +10,203,227 |
| Douglas Linde | 16,239,774 | 9,055,682 | 8,968,417 | ↑ +7,184,092 |
| Michael LaBelle | 8,154,469 | 4,357,215 | 4,379,719 | ↑ +3,797,254 |
| Bryan Koop | 6,233,077 | 3,610,695 | 3,333,273 | ↑ +2,622,382 |
| Hilary Spann | 5,767,105 | 2,819,659 | — | ↑ +2,947,446 |
Prior-year totals as disclosed in the corresponding proxy; deltas are computed values with the derivation shown in the register.
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$23,047,305 Owen Thomas total, FY2025
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Data as of October 1, 2026 · Source: 0001037540-26-000010 · Velarion Executive Compensation Database, deposited on Zenodo (doi:10.5281/zenodo.22283855).
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Each company listed discloses BXP in its own benchmarking peer group, as disclosed in each company's most recent proxy statement within the last two proxy seasons. Two companies are therefore absent by design: one that named BXP in an earlier year and no longer does, and one whose own most recent disclosure is older than the last two seasons.
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One page per officer: the same table above, read for one person at a time — his own figure and every fiscal year the register holds.
| Executive | Role | FY2025 total |
|---|---|---|
| Bryan Koop | EVP | $6,233,077 |
| Douglas Linde | President | $16,239,774 |
| Michael LaBelle | CFO | $8,154,469 |
| Owen Thomas | CEO | $23,047,305 |
| Hilary Spann | EVP | $5,767,105 |
One page per director: the seat, the committees and the fee table, read for one person at a time.
| Director | Role | FY2025 total |
|---|---|---|
| Bruce W. Duncan | Independent Director | $288,500 |
| Carol B. Einiger | Former director (through FY2025) | $42,610 |
| Derek Anthony (Tony) West | Independent Director | $251,750 |
| Diane J. Hoskins | Independent Director | $285,000 |
| Joel I. Klein | Lead Independent Director | $293,184 |
| Julie G. Richardson | Independent Director | $210,038 |
| Mary E. Kipp | Independent Director | $258,500 |
| Matthew J. Lustig | Independent Director | $268,500 |
| Timothy J. Naughton | Independent Director | $279,231 |
| William H. Walton, III | Independent Director | $243,500 |
Every insider equity transaction reported on Form 4 after the 2025 proxy statement — acquisitions, dispositions, exercises, and withholdings — and therefore not reflected in any table in that document.
| Insider | Role | Transaction date | Code | Shares | Price | Value | Security | Source |
|---|---|---|---|---|---|---|---|---|
| Peter Otteni V | Executive Vice President | 2026-05-15 | D | 4,863 | — | — | Derivative, Class A Common | Form 4 ↗ |
| Peter Otteni V | Executive Vice President | 2026-05-15 | A | 4,863 | — | — | Derivative, Class A Common | Form 4 ↗ |
| Peter Otteni V | Executive Vice President | 2026-05-15 | A | 4,863 | — | — | Common | Form 4 ↗ |
| Peter Otteni V | Executive Vice President | 2026-05-15 | D | 4,863 | 0 | 1,216 | Derivative, Class A Common | Form 4 ↗ |
| Peter Otteni V | Executive Vice President | 2026-05-20 | D | 4,863 | 59 | 287,186 | Common, open-market sale | Form 4 ↗ |
| Eric G. Kevorkian | SVP, CLO and Secretary | 2026-05-21 | D | 2,000 | — | — | Derivative, Class A Common | Form 4 ↗ |
| Eric G. Kevorkian | SVP, CLO and Secretary | 2026-05-21 | D | 200 | 60 | 12,045 | Common | Form 4 ↗ |
| Eric G. Kevorkian | SVP, CLO and Secretary | 2026-05-21 | A | 2,000 | — | — | Common | Form 4 ↗ |
| Eric G. Kevorkian | SVP, CLO and Secretary | 2026-05-22 | D | 2,000 | 60 | 119,702 | Common, open-market sale | Form 4 ↗ |
| Julie G. Richardson | Director | 2026-05-29 | A | 3,332 | 0 | 833 | Derivative, Class A Common | Form 4 ↗ |
| Diane J. Hoskins | Director | 2026-05-29 | A | 3,332 | 0 | 0 | Common | Form 4 ↗ |
| Dividend-equivalent accruals | 2026-05-29 | — | 1,666 | — | ~417 | 1 insider, 1 accrual row | ||
| Bruce W. Duncan | Director | 2026-05-29 | A | 3,332 | 0 | 833 | Derivative, Class A Common | Form 4 ↗ |
| Matthew J. Lustig | Director | 2026-05-29 | A | 3,332 | 0 | 833 | Derivative, Class A Common | Form 4 ↗ |
| Derek Anthony (Tony) West | Director | 2026-05-29 | A | 1,666 | 0 | 0 | Common | Form 4 ↗ |
| Timothy J. Naughton | Director | 2026-05-29 | A | 3,332 | 0 | 0 | Common | Form 4 ↗ |
| Joel I. Klein | Director | 2026-05-29 | A | 3,332 | 0 | 833 | Derivative, Class A Common | Form 4 ↗ |
| William H. Walton, III | Director | 2026-05-29 | A | 3,332 | 0 | 833 | Derivative, Class A Common | Form 4 ↗ |
| Mary E. Kipp | Director | 2026-05-29 | A | 3,332 | 0 | 833 | Derivative, Class A Common | Form 4 ↗ |
| Michael LaBelle | EVP and CFO | 2026-06-04 | A | 23,981 | — | — | Derivative, Class A Common | Form 4 ↗ |
| Michael LaBelle | EVP and CFO | 2026-06-04 | D | 23,981 | — | — | Derivative, Class A Common | Form 4 ↗ |
| Michael LaBelle | EVP and CFO | 2026-06-04 | D | 23,981 | 0 | 5,995 | Derivative, Class A Common | Form 4 ↗ |
| Michael LaBelle | EVP and CFO | 2026-06-04 | A | 23,981 | — | — | Common | Form 4 ↗ |
| Michael LaBelle | EVP and CFO | 2026-06-09 | D | 8,033 | 67 | 538,356 | Common, open-market sale | Form 4 ↗ |
| Michael LaBelle | EVP and CFO | 2026-06-09 | D | 18,080 | 66 | 1,194,177 | Common, open-market sale | Form 4 ↗ |
| Matthew J. Lustig | Director | 2026-06-30 | A | 439.86 | 66 | 29,167 | Derivative, Class A Common | Form 4 ↗ |
| Joel I. Klein | Director | 2026-06-30 | A | 496.41 | 66 | 32,917 | Derivative, Class A Common | Form 4 ↗ |
| Mary E. Kipp | Director | 2026-06-30 | A | 402.16 | 66 | 26,667 | Derivative, Class A Common | Form 4 ↗ |
| Derek Anthony (Tony) West | Director | 2026-06-30 | A | 351.63 | 66 | 23,317 | Derivative, Class A Common | Form 4 ↗ |
| William H. Walton, III | Director | 2026-06-30 | A | 345.6 | 66 | 22,917 | Derivative, Class A Common | Form 4 ↗ |
| Bruce W. Duncan | Director | 2026-06-30 | A | 515.26 | 66 | 34,167 | Derivative, Class A Common | Form 4 ↗ |
| Julie G. Richardson | Director | 2026-06-30 | A | 364.45 | 66 | 24,167 | Derivative, Class A Common | Form 4 ↗ |
| William H. Walton, III | Director | 2026-09-30 | A | 388.64 | 61 | 23,750 | Derivative, Class A Common | Form 4 ↗ |
| Mary E. Kipp | Director | 2026-09-30 | A | 450.01 | 61 | 27,500 | Derivative, Class A Common | Form 4 ↗ |
| Julie G. Richardson | Director | 2026-09-30 | A | 409.1 | 61 | 25,000 | Derivative, Class A Common | Form 4 ↗ |
| Joel I. Klein | Director | 2026-09-30 | A | 552.28 | 61 | 33,750 | Derivative, Class A Common | Form 4 ↗ |
| Matthew J. Lustig | Director | 2026-09-30 | A | 490.92 | 61 | 30,000 | Derivative, Class A Common | Form 4 ↗ |
| Bruce W. Duncan | Director | 2026-09-30 | A | 572.74 | 61 | 35,000 | Derivative, Class A Common | Form 4 ↗ |
| Derek Anthony (Tony) West | Director | 2026-09-30 | A | 388.64 | 61 | 23,750 | Derivative, Class A Common | Form 4 ↗ |
Transaction codes per Form 4: A acquisition · S open-market sale · F tax withholding · M option exercise · G gift. Value = shares × price as reported. Dividend-equivalent and fractional-share accrual rows (derivative Class A, under $10,000 and under 2,000 shares) are aggregated per date; every row appears in full below.
| Insider | Role | Transaction date | Code | Shares | Price | Value | Security | Source |
|---|---|---|---|---|---|---|---|---|
| Peter Otteni V | Executive Vice President | 2026-05-15 | D | 4,863 | — | — | Derivative, Class A Common | Form 4 ↗ |
| Peter Otteni V | Executive Vice President | 2026-05-15 | A | 4,863 | — | — | Derivative, Class A Common | Form 4 ↗ |
| Peter Otteni V | Executive Vice President | 2026-05-15 | A | 4,863 | — | — | Common | Form 4 ↗ |
| Peter Otteni V | Executive Vice President | 2026-05-15 | D | 4,863 | 0 | 1,216 | Derivative, Class A Common | Form 4 ↗ |
| Peter Otteni V | Executive Vice President | 2026-05-20 | D | 4,863 | 59 | 287,186 | Common, open-market sale | Form 4 ↗ |
| Eric G. Kevorkian | SVP, CLO and Secretary | 2026-05-21 | D | 2,000 | — | — | Derivative, Class A Common | Form 4 ↗ |
| Eric G. Kevorkian | SVP, CLO and Secretary | 2026-05-21 | D | 200 | 60 | 12,045 | Common | Form 4 ↗ |
| Eric G. Kevorkian | SVP, CLO and Secretary | 2026-05-21 | A | 2,000 | — | — | Common | Form 4 ↗ |
| Eric G. Kevorkian | SVP, CLO and Secretary | 2026-05-22 | D | 2,000 | 60 | 119,702 | Common, open-market sale | Form 4 ↗ |
| Julie G. Richardson | Director | 2026-05-29 | A | 3,332 | 0 | 833 | Derivative, Class A Common | Form 4 ↗ |
| Diane J. Hoskins | Director | 2026-05-29 | A | 3,332 | 0 | 0 | Common | Form 4 ↗ |
| Derek Anthony (Tony) West | Director | 2026-05-29 | A | 1,666 | 0 | 417 | Derivative, Class A Common | Form 4 ↗ |
| Bruce W. Duncan | Director | 2026-05-29 | A | 3,332 | 0 | 833 | Derivative, Class A Common | Form 4 ↗ |
| Matthew J. Lustig | Director | 2026-05-29 | A | 3,332 | 0 | 833 | Derivative, Class A Common | Form 4 ↗ |
| Derek Anthony (Tony) West | Director | 2026-05-29 | A | 1,666 | 0 | 0 | Common | Form 4 ↗ |
| Timothy J. Naughton | Director | 2026-05-29 | A | 3,332 | 0 | 0 | Common | Form 4 ↗ |
| Joel I. Klein | Director | 2026-05-29 | A | 3,332 | 0 | 833 | Derivative, Class A Common | Form 4 ↗ |
| William H. Walton, III | Director | 2026-05-29 | A | 3,332 | 0 | 833 | Derivative, Class A Common | Form 4 ↗ |
| Mary E. Kipp | Director | 2026-05-29 | A | 3,332 | 0 | 833 | Derivative, Class A Common | Form 4 ↗ |
| Michael LaBelle | EVP and CFO | 2026-06-04 | A | 23,981 | — | — | Derivative, Class A Common | Form 4 ↗ |
| Michael LaBelle | EVP and CFO | 2026-06-04 | D | 23,981 | — | — | Derivative, Class A Common | Form 4 ↗ |
| Michael LaBelle | EVP and CFO | 2026-06-04 | D | 23,981 | 0 | 5,995 | Derivative, Class A Common | Form 4 ↗ |
| Michael LaBelle | EVP and CFO | 2026-06-04 | A | 23,981 | — | — | Common | Form 4 ↗ |
| Michael LaBelle | EVP and CFO | 2026-06-09 | D | 8,033 | 67 | 538,356 | Common, open-market sale | Form 4 ↗ |
| Michael LaBelle | EVP and CFO | 2026-06-09 | D | 18,080 | 66 | 1,194,177 | Common, open-market sale | Form 4 ↗ |
| Matthew J. Lustig | Director | 2026-06-30 | A | 439.86 | 66 | 29,167 | Derivative, Class A Common | Form 4 ↗ |
| Joel I. Klein | Director | 2026-06-30 | A | 496.41 | 66 | 32,917 | Derivative, Class A Common | Form 4 ↗ |
| Mary E. Kipp | Director | 2026-06-30 | A | 402.16 | 66 | 26,667 | Derivative, Class A Common | Form 4 ↗ |
| Derek Anthony (Tony) West | Director | 2026-06-30 | A | 351.63 | 66 | 23,317 | Derivative, Class A Common | Form 4 ↗ |
| William H. Walton, III | Director | 2026-06-30 | A | 345.6 | 66 | 22,917 | Derivative, Class A Common | Form 4 ↗ |
| Bruce W. Duncan | Director | 2026-06-30 | A | 515.26 | 66 | 34,167 | Derivative, Class A Common | Form 4 ↗ |
| Julie G. Richardson | Director | 2026-06-30 | A | 364.45 | 66 | 24,167 | Derivative, Class A Common | Form 4 ↗ |
| William H. Walton, III | Director | 2026-09-30 | A | 388.64 | 61 | 23,750 | Derivative, Class A Common | Form 4 ↗ |
| Mary E. Kipp | Director | 2026-09-30 | A | 450.01 | 61 | 27,500 | Derivative, Class A Common | Form 4 ↗ |
| Julie G. Richardson | Director | 2026-09-30 | A | 409.1 | 61 | 25,000 | Derivative, Class A Common | Form 4 ↗ |
| Joel I. Klein | Director | 2026-09-30 | A | 552.28 | 61 | 33,750 | Derivative, Class A Common | Form 4 ↗ |
| Matthew J. Lustig | Director | 2026-09-30 | A | 490.92 | 61 | 30,000 | Derivative, Class A Common | Form 4 ↗ |
| Bruce W. Duncan | Director | 2026-09-30 | A | 572.74 | 61 | 35,000 | Derivative, Class A Common | Form 4 ↗ |
| Derek Anthony (Tony) West | Director | 2026-09-30 | A | 388.64 | 61 | 23,750 | Derivative, Class A Common | Form 4 ↗ |
| Executive | Award | Grant date | Threshold | Target | Granted | Maximum | Grant-date fair value |
|---|---|---|---|---|---|---|---|
| Owen Thomas | PSU | 2025-02-04 | — | 80,859 | — | 161,718 | $5,775,000 |
| Hilary Spann | PSU | 2025-02-04 | — | 10,851 | — | 21,702 | 775,000 |
| Douglas Linde | PSU | 2025-02-04 | — | 47,605 | — | 95,211 | 3,400,000 |
| Michael LaBelle | PSU | 2025-02-04 | — | 21,002 | — | 42,005 | 1,500,000 |
| Bryan Koop | PSU | 2025-02-04 | — | 11,201 | — | 22,403 | 800,000 |
| Hilary Spann | PSU | 2025-12-22 | 7,415 | 29,661 | — | 59,322 | 2,661,052 |
| Owen Thomas | PSU | 2025-12-22 | 26,483 | 105,932 | — | 211,864 | 9,503,743 |
| Owen Thomas | RSU | 2025-01-31 | — | — | 64,602 | — | 4,039,200 |
| Michael LaBelle | PSU | 2025-12-22 | 9,004 | 36,017 | — | 72,034 | 3,231,284 |
| Bryan Koop | PSU | 2025-12-22 | 7,415 | 29,661 | — | 59,322 | 2,661,052 |
| Douglas Linde | PSU | 2025-12-22 | 18,538 | 74,153 | — | 148,305 | 6,652,629 |
| Douglas Linde | RSU | 2025-01-31 | — | — | 46,486 | — | 3,115,080 |
| Hilary Spann | RSU | 2025-01-31 | — | — | 10,596 | — | 710,055 |
| Michael LaBelle | RSU | 2025-01-31 | — | — | 20,508 | — | 1,374,300 |
| Bryan Koop | RSU | 2025-01-31 | — | — | 10,937 | — | 732,960 |
| Named executive officer | Time-vested (RSU) | Performance-vested (PSU) | Options / SARs | % performance-vested |
|---|---|---|---|---|
| Owen Thomas | $4,039,200 | $15,278,743 | $0 | 79.1% |
| Hilary Spann | 710,055 | 3,436,052 | 0 | 82.9% |
| Douglas Linde | 3,115,080 | 10,052,629 | 0 | 76.3% |
| Michael LaBelle | 1,374,300 | 4,731,284 | 0 | 77.5% |
| Bryan Koop | 732,960 | 3,461,052 | 0 | 82.5% |
% performance-vested = PSU grant-date fair value ÷ (RSU + PSU + Options), a computed value with the derivation shown in the register.
| Executive | Award | Shares unvested | Exercise price | Market value unvested |
|---|---|---|---|---|
| Douglas Linde | RSU | 110,453 | — | $7,453,368 |
| Michael LaBelle | PSU | 105,469 | — | 7,117,048 |
| Bryan Koop | PSU | 66,630 | — | 4,496,192 |
| Owen Thomas | PSU | 435,327 | — | 29,375,866 |
| Hilary Spann | RSU | 47,955 | — | 3,236,003 |
| Douglas Linde | PSU | 256,113 | — | 17,282,505 |
| Michael LaBelle | RSU | 44,876 | — | 3,028,232 |
| Bryan Koop | RSU | 27,300 | — | 1,842,204 |
| Hilary Spann | PSU | 26,955 | — | 1,818,923 |
provide target total compensation opportunities to be competitive with companies in our benchmarking peer group, considering the skill sets required to implement our strategy and the market demand for such talent
| CEO STI target (% of salary) | 247% |
|---|---|
| CEO LTI target (% of salary) | — |
| Independent consultant | FW Cook |
| Clawback policy | true |
| Anti-hedging | — |
| Anti-pledging | True |
| Meeting year | Meeting date | For | Against | Abstain | Support | Outcome |
|---|---|---|---|---|---|---|
| 2026 | 2026-05-21 | 98,180,094 | 43,066,965 | 1,454,021 | 68.8% | Passed |
| 2025 | 2025-05-20 | 123,529,793 | 15,365,180 | 1,339,155 | 88.09% | Passed |
| 2024 | 2024-05-22 | 92,860,514 | 44,793,229 | 834,992 | 67.05% | Passed |
| 2023 | 2023-05-23 | 123,768,210 | 14,503,681 | 825,170 | 89.51% | Passed |
| 2022 | 2022-05-19 | 127,254,624 | 13,977,344 | 404,079 | 90.1% | Passed |
| 2021 | 2021-05-20 | 121,376,006 | 14,061,508 | 383,469 | 89.36% | Passed |
Rows are labeled by annual-meeting year, with the meeting date beside each; the vote held in a given year acts on the prior fiscal year's compensation.
| Meeting year | Meeting date | Approval — company's computation |
|---|---|---|
| 2026 | 2026-05-21 | 68.8%a |
| 2025 | 2025-05-20 | 88.09%b |
| 2024 | 2024-05-22 | 67.05%c |
a. Approved under the standard stated in the filing — “Abstentions shall be included in determining the number of shares present and entitled to vote on the proposal, thus having the effect of a vote against the proposal.”.
b. Approved under the standard stated in the filing — “Abstentions shall be included in determining the number of shares present and entitled to vote on the proposal, thus having the effect of a vote against the proposal.”.
c. Approved under the standard stated in the filing — “Abstentions shall be included in determining the number of shares present and entitled to vote on the proposal, thus having the effect of a vote against the proposal.”.
Approval percentages are the company's own reported computations under its own stated standard, not recomputed by Velarion. Where a company does not state a standard, none is assumed.
| Ratio (CEO : median employee) | 164.5 : 1 |
|---|---|
| CEO total compensation | $23,047,305 |
| Median employee compensation | $140,113 |
| Director | Cash fees | Stock awards | Option awards | Non-equity incentive | All other | Total |
|---|---|---|---|---|---|---|
| Joel I. KleinIndependent · Lead Independent Director · Compensation · Audit · Nominating/Governance · Sustainability | $144,684 | $148,500 | $0 | $0 | $0 | $293,184 |
| Bruce W. DuncanIndependent · Audit (Chair) · Compensation · Nominating/Governance | 140,000 | 148,500 | 0 | 0 | 0 | 288,500 |
| Diane J. HoskinsIndependent · Nominating/Governance · Sustainability (Chair) | 120,000 | 165,000 | 0 | 0 | 0 | 285,000 |
| Timothy J. NaughtonIndependent · Compensation (Chair) · Sustainability | 114,231 | 165,000 | 0 | 0 | 0 | 279,231 |
| Matthew J. LustigIndependent · Nominating/Governance (Chair) · Sustainability | 120,000 | 148,500 | 0 | 0 | 0 | 268,500 |
| Mary E. KippIndependent · Audit · Sustainability | 110,000 | 148,500 | 0 | 0 | 0 | 258,500 |
| Derek Anthony (Tony) WestIndependent · Compensation | 95,000 | 156,750 | 0 | 0 | 0 | 251,750 |
| William H. Walton, IIIIndependent · Compensation | 95,000 | 148,500 | 0 | 0 | 0 | 243,500 |
| Julie G. RichardsonIndependent · Audit · Partial-year service · Newly elected | 61,538 | 148,500 | 0 | 0 | 0 | 210,038 |
| Carol B. EinigerIndependent · Compensation · Nominating/Governance · Departed during FY | 42,610 | — | 0 | 0 | 0 | 42,610 |
| Douglas LindeEmployee director · Sustainability | 0 | 0 | 0 | — | 0 | 0 |
| Owen ThomasEmployee director · Board Chair · Sustainability | 0 | 0 | 0 | — | 0 | 0 |
| Annual cash retainer | $85,000 |
|---|---|
| Annual equity retainer | $165,000 |
| Per board meeting fee | — |
| Committee chair fees (audit / comp / nom-gov) | — |
| Stock ownership guideline | $425,000 |
| Component | FY2025 |
|---|---|
| Cash retainers and fees | $1,043,063 |
| Equity awards (grant-date value) | $1,377,750 |
| All other compensation | $0 |
| Total cost of the board | $2,420,813 |
Computed as the sum of the director compensation table rows above; inputs and formula shown in the register.
The compensation peer group as the company disclosed it in its own proxy — the reference set behind the percentile above.
Of the companies BXP, Inc. names as compensation peers, which name it back in their own disclosed peer groups. A peer set the market reciprocates reads differently from one selected in a single direction.
Reciprocity shown where the peer's own current proxy has been read — each mark is cited in the register to that peer's filing. A dash means the peer's current proxy was read and names no reciprocal group including BXP, Inc..
Most recent fiscal-year chief executive compensation at each disclosed peer, taken from that company's own proxy statement.
| Rank | Company | FY | Chief executive | Salary | Stock awards | Option awards | Non-equity incentive | Total |
|---|---|---|---|---|---|---|---|---|
| 1 | BXP, Inc. | 2025 | Owen Thomas | $950,000 | $19,317,943 | $0 | $2,758,900 | $23,047,305 |
| 2 | SL Green Realty Corp. | 2025 | Marc Holliday | 1,400,000 | 14,271,656 | 0 | 1,639,390 | 17,356,826 |
| 3 | Empire State Realty Trust | 2025 | Anthony Malkin | 896,923 | 9,422,697 | 0 | 0 | 12,669,394 |
| 4 | Douglas Emmett, Inc. | 2025 | Jordan Kaplan | 800,000 | 8,170,000 | 0 | 0 | 9,012,069 |
| 5 | Kilroy Realty Corporation | 2025 | Angela Aman | 820,000 | 4,433,577 | 0 | 1,801,850 | 7,072,527 |
| 6 | Vornado Realty Trust | 2025 | Steven Roth | 1,000,000 | 0 | 0 | 0 | 3,135,628 |
| 7 | Hudson Pacific Properties, Inc. | 2025 | Victor Coleman | 1,000,000 | 356,326 | — | 0 | 2,766,883 |
Each peer's compensation is from its most recently filed proxy; fiscal years differ by company. Each peer's figures come from its own filings; the subject company is highlighted. Peers whose chief executive compensation is outside our coverage universe are stated as such, never left blank.
| Company | Annual incentive payout | Long-term vehicle mix | PSU measures include TSR | Compensation consultant |
|---|---|---|---|---|
| BXP, Inc. | 117.4% | PSU 55 · RSU 45 | Yes — Relative TSR with aTSR Modifier | FW Cook |
| Douglas Emmett, Inc. | not disclosed | LTIP Units 100 | Yes — Total Shareholder Return (TSR) | FTI Consulting, Inc. |
| Empire State Realty Trust | 164% | PSU 55 · LTIP Units 45 | Yes — TSR performance relative to the Nareit Office Index | Ferguson Partners Consulting |
| Hudson Pacific Properties, Inc. | not disclosed | LTIP Units 50 · PSU 50 | Yes — Relative TSR vs. Nareit Office Index | Ferguson Partners Consulting (FPC) |
| Kilroy Realty Corporation | 125.6% | PSU 75 · RSU 25 | Yes — TSR Percentile Ranking | Korn Ferry |
| SL Green Realty Corp. | not disclosed | PSU 67 · RSU 33 | Yes — Office REIT Peers TSR | Ferguson Partners |
| Vornado Realty Trust | 168% | PSU 100 | Yes — Relative TSR vs LTPP Peer Group | FTI Consulting, Inc. |
Read from each company's Compensation Discussion and Analysis: annual incentive payout as a percentage of target, the disclosed long-term vehicle mix, whether performance-share measures include a total shareholder return component, and the retained compensation consultant. “Not disclosed” appears only where the company's filing does not state the item.
Answers are drawn only from the figures disclosed in this brief and cited to their location in the source filing. Where a figure required for an answer is not disclosed, that is stated rather than estimated.
Each figure's location is given both for the eye (section · page · table · row · column) and for a script (table/row/column index and exact character span in the filed document). Any figure can be independently confirmed against the source.
| # | Supports | Document | Filed | Accession | Location in document |
|---|---|---|---|---|---|
| 1 | Section 01, Owen Thomas | DEF 14A | 2026-04-10 | 0001037540-26-000010 | Section “Summary Compensation Table” · page 101. As printed: 23,047,305. Filing ↗machine: span 1785714–1785724 |
| 2 | Section 01, Douglas Linde | DEF 14A | 2026-04-10 | 0001037540-26-000010 | Section “Summary Compensation Table” · page 101. As printed: 16,239,774. Filing ↗machine: span 1793045–1793055 |
| 3 | Section 01, Michael LaBelle | DEF 14A | 2026-04-10 | 0001037540-26-000010 | Section “Summary Compensation Table” · page 101. As printed: 8,154,469. Filing ↗machine: span 1801001–1801010 |
| 4 | Section 01, Bryan Koop | DEF 14A | 2026-04-10 | 0001037540-26-000010 | Section “Summary Compensation Table” · page 101. As printed: 6,233,077. Filing ↗machine: span 1808519–1808528 |
| 5 | Section 01, Hilary Spann | DEF 14A | 2026-04-10 | 0001037540-26-000010 | Section “Summary Compensation Table” · page 101. As printed: 5,767,105. Filing ↗machine: span 1816474–1816483 |
| 6 | Section 03, Owen Thomas PSU | DEF 14A | 2026-04-10 | 0001037540-26-000010 | Section “Grants of Plan-Based Awards in 202” · grants of plan-based awards table. Filing ↗machine: t221 · r6 · c10 · span 1875988–1875994 |
| 7 | Section 03, Hilary Spann PSU | DEF 14A | 2026-04-10 | 0001037540-26-000010 | Section “Grants of Plan-Based Awards in 202” · grants of plan-based awards table. Filing ↗machine: t221 · r22 · c10 · span 1929724–1929730 |
| 8 | Section 03, Douglas Linde PSU | DEF 14A | 2026-04-10 | 0001037540-26-000010 | Section “Grants of Plan-Based Awards in 202” · grants of plan-based awards table. Filing ↗machine: t221 · r10 · c10 · span 1889706–1889712 |
| 9 | Section 03, Michael LaBelle PSU | DEF 14A | 2026-04-10 | 0001037540-26-000010 | Section “Grants of Plan-Based Awards in 202” · grants of plan-based awards table. Filing ↗machine: t221 · r14 · c10 · span 1902849–1902855 |
| 10 | Section 03, Bryan Koop PSU | DEF 14A | 2026-04-10 | 0001037540-26-000010 | Section “Grants of Plan-Based Awards in 202” · grants of plan-based awards table. Filing ↗machine: t221 · r18 · c10 · span 1916558–1916564 |
| 11 | Section 03, Hilary Spann PSU | DEF 14A | 2026-04-10 | 0001037540-26-000010 | Section “Grants of Plan-Based Awards in 202” · grants of plan-based awards table. Filing ↗machine: t221 · r23 · c10 · span 1933239–1933245 |
| 12 | Section 03, Owen Thomas PSU | DEF 14A | 2026-04-10 | 0001037540-26-000010 | Section “Grants of Plan-Based Awards in 202” · grants of plan-based awards table. Filing ↗machine: t221 · r7 · c10 · span 1879155–1879162 |
| 13 | Section 03, Owen Thomas RSU | DEF 14A | 2026-04-10 | 0001037540-26-000010 | Section “Grants of Plan-Based Awards in 202” · grants of plan-based awards table. Filing ↗machine: t221 · r5 · c14 · span 1873431–1873437 |
| 14 | Section 03, Michael LaBelle PSU | DEF 14A | 2026-04-10 | 0001037540-26-000010 | Section “Grants of Plan-Based Awards in 202” · grants of plan-based awards table. Filing ↗machine: t221 · r15 · c10 · span 1906014–1906020 |
| 15 | Section 03, Bryan Koop PSU | DEF 14A | 2026-04-10 | 0001037540-26-000010 | Section “Grants of Plan-Based Awards in 202” · grants of plan-based awards table. Filing ↗machine: t221 · r19 · c10 · span 1920196–1920202 |
| 16 | Section 03, Douglas Linde PSU | DEF 14A | 2026-04-10 | 0001037540-26-000010 | Section “Grants of Plan-Based Awards in 202” · grants of plan-based awards table. Filing ↗machine: t221 · r11 · c10 · span 1893347–1893353 |
| 17 | Section 03, Douglas Linde RSU | DEF 14A | 2026-04-10 | 0001037540-26-000010 | Section “Grants of Plan-Based Awards in 202” · grants of plan-based awards table. Filing ↗machine: t221 · r9 · c14 · span 1886774–1886780 |
| 18 | Section 03, Hilary Spann RSU | DEF 14A | 2026-04-10 | 0001037540-26-000010 | Section “Grants of Plan-Based Awards in 202” · grants of plan-based awards table. Filing ↗machine: t221 · r21 · c14 · span 1927169–1927175 |
| 19 | Section 03, Michael LaBelle RSU | DEF 14A | 2026-04-10 | 0001037540-26-000010 | Section “Grants of Plan-Based Awards in 202” · grants of plan-based awards table. Filing ↗machine: t221 · r13 · c14 · span 1900292–1900298 |
| 20 | Section 03, Bryan Koop RSU | DEF 14A | 2026-04-10 | 0001037540-26-000010 | Section “Grants of Plan-Based Awards in 202” · grants of plan-based awards table. Filing ↗machine: t221 · r17 · c14 · span 1913628–1913634 |
| 21 | Section 07, pay ratio | DEF 14A | 2026-04-10 | 0001037540-26-000010 | Section “CEO Pay Ratio”. As printed: 164.5 : 1. Filing ↗ |
| 22 | Section 08, Joel I. Klein | DEF 14A | 2026-04-10 | 0001037540-26-000010 | Section “Director Compensation”. As printed: 293,184. Filing ↗machine: t118 · r7 · c5 · span 1093261–1093511 |
| 23 | Section 08, Bruce W. Duncan | DEF 14A | 2026-04-10 | 0001037540-26-000010 | Section “Director Compensation”. As printed: 288,500. Filing ↗machine: t118 · r3 · c5 · span 1087473–1087723 |
| 24 | Section 08, Diane J. Hoskins | DEF 14A | 2026-04-10 | 0001037540-26-000010 | Section “Director Compensation”. As printed: 285,000. Filing ↗machine: t118 · r5 · c5 · span 1090476–1090726 |
| 25 | Section 08, Timothy J. Naughton | DEF 14A | 2026-04-10 | 0001037540-26-000010 | Section “Director Compensation”. As printed: 279,231. Filing ↗machine: t118 · r9 · c5 · span 1096057–1096307 |
| 26 | Section 08, Matthew J. Lustig | DEF 14A | 2026-04-10 | 0001037540-26-000010 | Section “Director Compensation”. As printed: 268,500. Filing ↗machine: t118 · r8 · c5 · span 1094658–1094908 |
| 27 | Section 08, Mary E. Kipp | DEF 14A | 2026-04-10 | 0001037540-26-000010 | Section “Director Compensation”. As printed: 258,500. Filing ↗machine: t118 · r6 · c5 · span 1091868–1092118 |
| 28 | Section 08, Derek Anthony (Tony) West | DEF 14A | 2026-04-10 | 0001037540-26-000010 | Section “Director Compensation”. As printed: 251,750. Filing ↗machine: t118 · r12 · c5 · span 1100633–1100915 |
| 29 | Section 08, William H. Walton, III | DEF 14A | 2026-04-10 | 0001037540-26-000010 | Section “Director Compensation”. As printed: 243,500. Filing ↗machine: t118 · r11 · c5 · span 1099069–1099319 |
| 30 | Section 08, Julie G. Richardson | DEF 14A | 2026-04-10 | 0001037540-26-000010 | Section “Director Compensation”. As printed: 210,038. Filing ↗machine: t118 · r10 · c5 · span 1097668–1097918 |
| 31 | Section 08, Carol B. Einiger | DEF 14A | 2026-04-10 | 0001037540-26-000010 | Section “Director Compensation”. As printed: 42,610. Filing ↗machine: t118 · r4 · c1 · span 1088484–1088623 |
| 32 | Section 08, Douglas Linde | DEF 14A | 2026-04-10 | 0001037540-26-000010 | Section “Director Compensation”. As printed: 0. Filing ↗ |
| 33 | Section 08, Owen Thomas | DEF 14A | 2026-04-10 | 0001037540-26-000010 | Section “Director Compensation”. As printed: 0. Filing ↗ |
| 34 | Section 02, Peter Otteni V 2026-05-15 | Form 4 | 2026-05-18 | 0001862920-26-000008 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 35 | Section 02, Peter Otteni V 2026-05-15 | Form 4 | 2026-05-18 | 0001862920-26-000008 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 36 | Section 02, Peter Otteni V 2026-05-15 | Form 4 | 2026-05-18 | 0001862920-26-000008 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 37 | Section 02, Peter Otteni V 2026-05-15 | Form 4 | 2026-05-18 | 0001862920-26-000008 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 38 | Section 02, Peter Otteni V 2026-05-20 | Form 4 | 2026-05-20 | 0001862920-26-000010 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 39 | Section 02, Eric G. Kevorkian 2026-05-21 | Form 4 | 2026-05-26 | 0001931048-26-000014 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 40 | Section 02, Eric G. Kevorkian 2026-05-21 | Form 4 | 2026-05-26 | 0001931048-26-000014 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 41 | Section 02, Eric G. Kevorkian 2026-05-21 | Form 4 | 2026-05-26 | 0001931048-26-000014 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 42 | Section 02, Eric G. Kevorkian 2026-05-22 | Form 4 | 2026-05-26 | 0001931048-26-000014 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 43 | Section 02, Julie G. Richardson 2026-05-29 | Form 4 | 2026-06-02 | 0001466857-26-000007 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 44 | Section 02, Diane J. Hoskins 2026-05-29 | Form 4 | 2026-06-02 | 0001522588-26-000002 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 45 | Section 02, Derek Anthony (Tony) West 2026-05-29 | Form 4 | 2026-06-02 | 0001626201-26-000014 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 46 | Section 02, Bruce W. Duncan 2026-05-29 | Form 4 | 2026-06-02 | 0001105577-26-000008 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 47 | Section 02, Matthew J. Lustig 2026-05-29 | Form 4 | 2026-06-02 | 0001203367-26-000018 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 48 | Section 02, Derek Anthony (Tony) West 2026-05-29 | Form 4 | 2026-06-02 | 0001626201-26-000014 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 49 | Section 02, Timothy J. Naughton 2026-05-29 | Form 4 | 2026-06-02 | 0001219700-26-000002 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 50 | Section 02, Joel I. Klein 2026-05-29 | Form 4 | 2026-06-02 | 0001166832-26-000007 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 51 | Section 02, William H. Walton, III 2026-05-29 | Form 4 | 2026-06-02 | 0001058795-26-000009 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 52 | Section 02, Mary E. Kipp 2026-05-29 | Form 4 | 2026-06-02 | 0001478538-26-000008 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 53 | Section 02, Michael LaBelle 2026-06-04 | Form 4 | 2026-06-04 | 0001419045-26-000016 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 54 | Section 02, Michael LaBelle 2026-06-04 | Form 4 | 2026-06-04 | 0001419045-26-000016 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 55 | Section 02, Michael LaBelle 2026-06-04 | Form 4 | 2026-06-04 | 0001419045-26-000016 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 56 | Section 02, Michael LaBelle 2026-06-04 | Form 4 | 2026-06-04 | 0001419045-26-000016 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 57 | Section 02, Michael LaBelle 2026-06-09 | Form 4 | 2026-06-10 | 0001419045-26-000018 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 58 | Section 02, Michael LaBelle 2026-06-09 | Form 4 | 2026-06-10 | 0001419045-26-000018 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 59 | Section 02, Matthew J. Lustig 2026-06-30 | Form 4 | 2026-07-01 | 0001203367-26-000020 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 60 | Section 02, Joel I. Klein 2026-06-30 | Form 4 | 2026-07-01 | 0001166832-26-000010 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 61 | Section 02, Mary E. Kipp 2026-06-30 | Form 4 | 2026-07-01 | 0001478538-26-000012 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 62 | Section 02, Derek Anthony (Tony) West 2026-06-30 | Form 4 | 2026-07-01 | 0001626201-26-000017 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 63 | Section 02, William H. Walton, III 2026-06-30 | Form 4 | 2026-07-01 | 0001058795-26-000011 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 64 | Section 02, Bruce W. Duncan 2026-06-30 | Form 4 | 2026-07-01 | 0001105577-26-000012 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 65 | Section 02, Julie G. Richardson 2026-06-30 | Form 4 | 2026-07-01 | 0001466857-26-000010 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 66 | Section 02, William H. Walton, III 2026-09-30 | Form 4 | 2026-10-01 | 0001058795-26-000013 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 67 | Section 02, Mary E. Kipp 2026-09-30 | Form 4 | 2026-10-01 | 0001478538-26-000016 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 68 | Section 02, Julie G. Richardson 2026-09-30 | Form 4 | 2026-10-01 | 0001466857-26-000014 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 69 | Section 02, Joel I. Klein 2026-09-30 | Form 4 | 2026-10-01 | 0001166832-26-000012 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 70 | Section 02, Matthew J. Lustig 2026-09-30 | Form 4 | 2026-10-01 | 0001203367-26-000026 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 71 | Section 02, Bruce W. Duncan 2026-09-30 | Form 4 | 2026-10-01 | 0001105577-26-000016 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 72 | Section 02, Derek Anthony (Tony) West 2026-09-30 | Form 4 | 2026-10-01 | 0001626201-26-000022 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 73 | Section 06, 2026 vote | Form 8-K | 2026-05-22 | 0001037540-26-000022 | Item 5.07 · say-on-pay result. As reported: 68.8% (votes for as printed: 98,180,094). Filing ↗ |
| 74 | Section 06, 2025 vote | Form 8-K | 2025-05-20 | 0001656423-25-000037 | Item 5.07 · say-on-pay result. As reported: 88.09% (votes for as printed: 123,529,793). Filing ↗ |
| 75 | Section 06, 2024 vote | Form 8-K | 2024-05-24 | 0001656423-24-000030 | Item 5.07 · say-on-pay result. As reported: 67.05% (votes for as printed: 92,860,514). Filing ↗ |
| 76 | Section 01 trend, Δ column (computed) | Computed | — | — | Δ = current-FY total − prior-FY total per named officer.machine: formula: Δ = FY(n) − FY(n−1) |
| 77 | Section 03b vehicle mix (computed) | Computed | — | — | RSU / PSU / Options grant-date fair values summed per officer from the grants table; % performance-vested = PSU ÷ (RSU+PSU+Options).machine: formula: sums + PSU ratio |
| 78 | Section 09b board cost (computed) | Computed | — | — | Cash 1,043,063 + equity 1,377,750 + all other 0 = 2,420,813, summed across the director compensation table rows.machine: formula: Σ = 2,420,813 |
| 79 | BXP, Inc. (subject), Section 10b CEO total | DEF 14A | 2026-04-10 | 0001037540-26-000010 | CEO total compensation as printed in BXP, Inc.'s own proxy. As printed: 23,047,305. Filing ↗machine: span 1785714–1785724 |
| 80 | SL Green Realty Corp., Section 10b CEO total | DEF 14A | 2026-04-22 | 0001104659-26-046866 | CEO total compensation as printed in SL Green Realty Corp.'s own proxy. As printed: 17,356,826. Filing ↗machine: span 1592570–1592580 |
| 81 | Empire State Realty Trust, Section 10b CEO total | DEF 14A | 2026-04-02 | 0001104659-26-038890 | CEO total compensation as printed in Empire State Realty Trust's own proxy. As printed: 12,669,394. Filing ↗machine: r1 · c18 · span 1693420–1693430 |
| 82 | Douglas Emmett, Inc., Section 10b CEO total | DEF 14A | 2026-04-17 | 0001364250-26-000020 | CEO total compensation as printed in Douglas Emmett, Inc.'s own proxy. As printed: 9,012,069. Filing ↗machine: span 506518–506527 |
| 83 | Kilroy Realty Corporation, Section 10b CEO total | DEF 14A | 2026-04-09 | 0001193125-26-149727 | CEO total compensation as printed in Kilroy Realty Corporation's own proxy. As printed: 7,072,527. Filing ↗machine: r4 · c27 · span 996331–996340 |
| 84 | Vornado Realty Trust, Section 10b CEO total | DEF 14A | 2026-04-07 | 0001104659-26-040386 | CEO total compensation as printed in Vornado Realty Trust's own proxy. As printed: 3,135,628. Filing ↗machine: t140 · r1 · c54 · span 1243172–1243181 |
| 85 | Hudson Pacific Properties, Inc., Section 10b CEO total | DEF 14A | 2026-04-23 | 0001104659-26-047885 | CEO total compensation as printed in Hudson Pacific Properties, Inc.'s own proxy. As printed: 2,766,883. Filing ↗ |
| 86 | Section 10a, Hudson Pacific Properties, Inc. reciprocity | DEF 14A | — | 0001104659-26-047885 | Hudson Pacific Properties, Inc.'s most recent proxy was read; its disclosed peer group does not include BXP, Inc.. Filing ↗ |
| 87 | Section 10a, Kilroy Realty Corporation reciprocity | DEF 14A | — | 0001193125-26-149727 | Kilroy Realty Corporation names BXP, Inc. in its own disclosed peer group (read from its most recent proxy). Filing ↗ |
| 88 | Section 10a, SL Green Realty Corp. reciprocity | DEF 14A | — | 0001104659-26-046866 | SL Green Realty Corp.'s most recent proxy was read; its disclosed peer group does not include BXP, Inc.. Filing ↗ |
| 89 | Section 10a, Douglas Emmett, Inc. reciprocity | DEF 14A | — | 0001364250-26-000020 | Douglas Emmett, Inc. names BXP, Inc. in its own disclosed peer group (read from its most recent proxy). Filing ↗ |
| 90 | Section 10a, Vornado Realty Trust reciprocity | DEF 14A | — | 0001104659-26-040386 | Vornado Realty Trust names BXP, Inc. in its own disclosed peer group (read from its most recent proxy). Filing ↗ |
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