BXP extends CEO Owen Thomas contract through 2029; approves Outperformance Plan with up to 711,864 LTIP units

BXP, Inc.

CEO Owen Thomas new employment agreement extends term to Dec 31, 2029 (from Dec 2026).
Outperformance Plan grants up to 711,864 LTIP units to senior leadership; CEO receives 211,864.
To earn awards, BXP stock (adjusted) must reach $90-$118 for 20 consecutive days; max at $118.
Estimated $32.1M OPP compensation expense over 4 years; $11.6M ($0.07/sh) expected in 2026.
OPP awards have no accelerated vesting for retirement; forfeited if recipient leaves before value creation.

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