BXP, Inc. — Director's Dealing 2010

Aug 12, 2010

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: BOSTON PROPERTIES INC (BXP)
CIK: 0001037540
Period of Report: 2010-08-10

Reporting Person: LABELLE MICHAEL E (SVP and CFO)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2010-08-10	Common Stock, par value $.01	M	433	$32.62	Acquired	5220	Direct
2010-08-10	Common Stock, par value $.01	S	433	$84.8872	Disposed	4787	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2010-08-10	Employee Stock Option (right to buy)	$32.62	M	433	Disposed	2012-01-17	Common Stock (433)	Direct

Footnotes

F1: In January 2008, the issuer paid a special dividend of $5.98 per share of common stock to all stockholders of record as of the close of business on December 31, 2007. In connection with this special dividend, the issuer's Board of Directors adjusted all options that were awarded, but not exercised, prior to the ex-dividend date for the special dividend to account for the effect of the special dividend. The number of shares subject to each such option was increased and the exercise price correspondingly decreased such that each option had the same fair value to the holder before and after giving effect to the payment of the special dividend. Pursuant to this adjustment the number of shares underlying Mr. LaBelle's options increased by 25 from 408 to 433 and the per share exercise price was correspondingly decreased.

F2: The option vested in three equal annual installments beginning on January 17, 2003.