BXP, Inc. (NYSE: BXP) has extended the employment agreement with Owen D. Thomas, the current Chief Executive Officer and Chairman of the Board of Directors, through December 31, 2029. This extension is in line with the multi-year strategic action plan introduced at BXP's investor day on September 8, 2025. The new agreement aims to align the CEO's employment term with the company's growth phase.
In connection with the new employment agreement, BXP's board of directors approved the 2025 Outperformance Plan (OPP) and granted equity awards to senior leadership team members, including Mr. Thomas. The OPP is designed to retain and incentivize key management while aligning their interests with shareholders. The plan does not allow for accelerated or continued vesting in the event of a qualified retirement.
To earn any of the OPP awards, BXP's dividend-adjusted common stock price must equal or exceed $90.00 per share for 20 consecutive trading days between the grant date, December 22, 2025, and the end of the performance period on December 22, 2029. The maximum performance target requires the stock price to reach $118.00 for 20 consecutive trading days during the same period.
BXP expects to recognize approximately $32.1 million of OPP-related compensation expense over the full four-year performance period, with an estimated $11.6 million, or $0.07 per share, of OPP-related compensation expense to be recognized in 2026. These figures will impact the company's earnings guidance for the full year of 2026.
BXP, Inc. is the largest publicly traded developer, owner, and manager of premier workplaces in the United States, operating in six dynamic gateway markets. As of September 30, 2025, BXP's portfolio totaled 54.6 million square feet and 187 properties, including those under construction or redevelopment. As a result of these announcements, the company's shares have moved -0.22% on the market, and are now trading at a price of $69.04. If you want to know more, read the company's complete 8-K report here.
