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BXPBXP, Inc. · Insider ownership research

BXP, Inc. insiders sold $7.7M in the past 12 months. How much of their stake is that?

About 33% overall. As a group they still hold 99.8% of their starting shares. These figures leave out Douglas Linde, the largest holder (most holdings were last confirmed in 2021).

Updated Oct 9, 2026 from SEC filings · covers Oct 10, 2025 to Oct 9, 2026
How this comparesMore of their stake sold than at 470 of the 490 other companies we can measure (#21 of 491)See ranking
0
buyers among officers and directors, past 12 months
0%
of sales were under disclosed trading plans, past 12 months
7 of 21
officers and directors sold shares, past 12 months
Recent activity · past 30 days, Sep 10, 2026 to Oct 9, 2026

No officer or director trades were reported for the past 30 days. The most recent before that:

Jun 9, 2026Michael Labelle sold 26K shares ($1.7M) with no plan disclosed. That is 82% of the total stake held that day.
WhoSharesPrice% of total stakeTotal stake afterTrade dateFiled
Michael Labelle
EVP and CFO
26,113$66.3582%5.8KJun 9, 2026Jun 10, 2026

"% of total stake" is the shares in this event against all the vested shares the person held that day, across every share class and holding entity, after that day's vesting. "n/a" means the person's holdings don't reconcile, or the row is a purchase. "Holdings record incomplete" means more shares were sold than the filings show the person held that day, so a percentage would be wrong.

Is this normal? More than usual: about 1.7x the 5-year average. 7 insiders sold; the average is 3 a year. Year by year
Latest filing: Filed Jun 10 for a sale on Jun 9. Michael Labelle sold 26K shares ($1.7M) with no plan disclosed. Filing
85 SEC ownership filings in the period · See the evidence

What stands out

Two officers sold more than 25% of vested holdings: Raymond Ritchey (28% of holdings, $2.6M, none under a disclosed plan) and John Stroman (100% of holdings, $1.2M, none under a disclosed plan).Raymond Ritchey: largest sale, Dec 1, 2025 · John Stroman: largest sale, Nov 12, 2025
Michael Labelle sold $2.7M of stock with no disclosed trading plan. The filings don't state a reason.Largest such sale, Jun 9, 2026
Hilary Spann sold 6.7K shares (92% of starting holdings), but 18K more vested, so the stake grew (from 7.3K to 18K).Largest sale, Feb 27, 2026

Percentages cover 8 of 21 officers and directors. 13 are left out

i
Left out: Michael Labelle (most of their shares vested during the period, so a percentage would mislead); Douglas Linde, Bryan Koop and Mary Kipp (most holdings were last confirmed in 2021); Matthew Lustig and Rodney Diehl (most holdings were last confirmed in 2023); Joel Klein (most holdings were last confirmed in 2015); Owen Thomas (holdings couldn't be fully reconciled); Bruce Duncan (most holdings were last confirmed in 2020); Michael Walsh (most holdings were last confirmed in 2016); William Walton III, Peter Otteni and Julie Richardson (held no vested shares at the start).
Disclosed company stock is not an insider's whole wealth.

Who sold, and how much of their stake

Officers and directors, past 12 months. Each bar is 100% of that person's own stake; not comparable between people. The stake is the vested shares held at the start of the period (Oct 9, 2025); the gold part is what they sold.

SoldRest of starting stake
Michael Labelle
EVP and CFO
Sold $2.7M (plan status beside the amount). Share of stake not shown: most of their shares vested during the period, so a percentage would mislead. Why
$2.7MNo plan disclosed
Raymond Ritchey
Senior EVP
28% · $2.6MNo plan disclosed
John Stroman
Executive Vice President
100% · $1.2MNo plan disclosed
Peter Otteni
Executive Vice President
Sold $588K (plan status beside the amount). Share of stake not shown: held no vested shares at the start. Why
$588KNo plan disclosed
Hilary Spann
Executive Vice President
92% · $404KNo plan disclosed
All 7 sellers

Selling by month

Officers and directors, Oct 2025 to Oct 2026. Each sale is counted once: under a disclosed plan, else to cover taxes, else no plan disclosed.

No plan disclosedOne dollar scale for every month; the tallest bar is labeled
OctNov 2025: $2.5M no plan disclosedNovDec 2025: $2.6M no plan disclosed$2.6MDecJanFeb 2026: $477K no plan disclosedFebMarAprMay 2026: $419K no plan disclosedMayJun 2026: $1.7M no plan disclosedJunJulAugSepOct

Common questions

Is the BXP, Inc. CEO selling stock?

Yes. Owen Thomas sold 1.2K shares ($73K) in the past 12 months, none of it under a trading plan disclosed in the filings.

Why are BXP, Inc. insiders selling?

Filings rarely give a reason, and we don't guess at one. What they show is how the sales were made: 0% of sales by value ran under 10b5-1 trading plans disclosed in the filings and 100% had no disclosed plan. A trading plan schedules sales in advance.

Are any BXP, Inc. insiders buying?

No. Officers and directors reported no purchases in the past 12 months.

How much of their stake did BXP, Inc. insiders sell?

About 33% overall. As a group they still hold 99.8% of their starting shares. These figures leave out Douglas Linde, the largest holder (most holdings were last confirmed in 2021). That covers the 12 months to Oct 9, 2026 and counts vested shares reported on SEC Forms 3, 4 and 5, which is not an insider's whole wealth.

The evidence

Who sold7 officers and directors: amount, % of holdings, trading plan
Who soldAmount% of holdingsTrading plan
Michael Labelle
EVP and CFO
$2.7M
40K shares
i
No percentage: most of their shares vested during the period, so a percentage would mislead.
No plan disclosed
Raymond Ritchey
Senior EVP
$2.6M
36K shares
28%No plan disclosed
John Stroman
Executive Vice President
$1.2M
17K shares
100%No plan disclosed
Peter Otteni
Executive Vice President
$588K
9K shares
i
No percentage: held no vested shares at the start.
No plan disclosed
Hilary Spann
Executive Vice President
$404K
6.7K shares
92%No plan disclosed
Eric Kevorkian
SVP, CLO and Secretary
$132K
2.2K shares
49%No plan disclosed
Owen Thomas
Chief Executive Officer, Director
$73K
1.2K shares
i
No percentage: holdings couldn't be fully reconciled.
No plan disclosed
The full ownership picture20 of 21 insiders fully reconciled · 11 officers and directors

Vested shares across all share classes, held directly and through trusts, LLCs and family members, as reported on SEC Forms 3, 4 and 5. Unvested awards and options are never counted as owned shares.

InsiderHeld Oct 9, 2025SoldHeld Oct 9, 2026Still held
Raymond Ritchey
i
Additional holdings last reported more than 3 years ago are shown separately and excluded from totals.
Senior EVP
131K−36K131K100%
Vesting, gifts, unvested awards and holding lines for Raymond Ritchey
0shares vested or exercised
0gifted (net of own trusts)
264K → 321Kunvested awards, start → end
  • Additional holdings last reported more than 3 years ago are shown separately and excluded from totals.
Held throughShare classOct 9, 2025Oct 9, 2026
DirectCommon OP Units88,80588,805
Raymond A. Ritchey 2008 Family TrustCommon OP Units17,11517,115
Raymond A. Ritchey 2020 Grantor Retained Annuity Trust, dated June 11, 2020Common OP Units10,50010,500
DirectCommon Stock, par value $0.0100
Raymond A. Ritchey 2008 Family TrustCommon Stock, par value $0.0114,15014,150

Additional holdings last reported Sep 14, 2016, not confirmed since: 65,074 shares. Not included in any total or percentage on this page.

Michael Labelle
i
Additional holdings last reported more than 3 years ago are shown separately and excluded from totals.
EVP and CFO
23K−40K5.8Knot meaningful
Vesting, gifts, unvested awards and holding lines for Michael Labelle
0shares vested or exercised
0gifted (net of own trusts)
−1.3Kwithheld by the company for taxes
670K → 1.07Munvested awards, start → end
  • Additional holdings last reported more than 3 years ago are shown separately and excluded from totals.
Held throughShare classOct 9, 2025Oct 9, 2026
DirectCommon OP Units00
DirectCommon Stock, par value $0.0122,6455,839

Additional holdings last reported Aug 24, 2012, not confirmed since: 138 shares. Not included in any total or percentage on this page.

John Stroman
Executive Vice President
17K−17K00%
Vesting, gifts, unvested awards and holding lines for John Stroman
0shares vested or exercised
0gifted (net of own trusts)
51K → 105Kunvested awards, start → end
Held throughShare classOct 9, 2025Oct 9, 2026
DirectCommon Stock, par value $0.0116,8380
Diane Hoskins
Director
16K019Kno sales
Vesting, gifts, unvested awards and holding lines for Diane Hoskins
0shares vested or exercised
0gifted (net of own trusts)
none reportedunvested awards, start → end
Held throughShare classOct 9, 2025Oct 9, 2026
DirectCommon Stock, par value $0.0115,59718,929
Hilary Spann
Executive Vice President
7.3K−6.7K18K+145%
Vesting, gifts, unvested awards and holding lines for Hilary Spann
0shares vested or exercised
0gifted (net of own trusts)
−1Kwithheld by the company for taxes
45K → 145Kunvested awards, start → end
Held throughShare classOct 9, 2025Oct 9, 2026
DirectCommon OP Units00
DirectCommon Stock, par value $0.017,27117,832
Tony West
Director
6K07.7Kno sales
Vesting, gifts, unvested awards and holding lines for Tony West
0shares vested or exercised
0gifted (net of own trusts)
20K → 40Kunvested awards, start → end
Held throughShare classOct 9, 2025Oct 9, 2026
DirectCommon Stock, par value $0.016,0257,691
Timothy Naughton
Director
5.3K08.6Kno sales
Vesting, gifts, unvested awards and holding lines for Timothy Naughton
0shares vested or exercised
0gifted (net of own trusts)
none reportedunvested awards, start → end
Held throughShare classOct 9, 2025Oct 9, 2026
DirectCommon Stock, par value $0.015,2698,601
Donna Garesche
EVP, Chief HR Officer
4.6K04.6Kno sales
Vesting, gifts, unvested awards and holding lines for Donna Garesche
0shares vested or exercised
0gifted (net of own trusts)
70K → 90Kunvested awards, start → end
Held throughShare classOct 9, 2025Oct 9, 2026
DirectCommon OP Units4,5974,597
Eric Kevorkian
SVP, CLO and Secretary
4.5K−2.2K2.1K46%
Vesting, gifts, unvested awards and holding lines for Eric Kevorkian
0shares vested or exercised
−100gifted (net of own trusts)
−97withheld by the company for taxes
64K → 85Kunvested awards, start → end
Held throughShare classOct 9, 2025Oct 9, 2026
DirectCommon OP Units3,7571,757
DirectCommon Stock, par value $0.01708311
Owen Thomas
!
Holdings couldn't be fully reconciled. Balance changed without a matching transaction, and the footnote does not state the amount: +11,474.57 shares on Feb 13, 2026 (Direct). See the filing Sales and other transactions for Owen Thomas are complete.
Chief Executive Officer, Director
n/a−1.2Kn/an/a
Vesting, gifts, unvested awards and holding lines for Owen Thomas
0shares vested or exercised
0gifted (net of own trusts)
2.42M → 3.81Munvested awards, start → end
  • Additional holdings last reported more than 3 years ago are shown separately and excluded from totals.

Holdings couldn't be fully reconciled. Balance changed without a matching transaction, and the footnote does not state the amount: +11,474.57 shares on Feb 13, 2026 (Direct). The balances below are as reported, not verified totals.

Held throughShare classOct 9, 2025Oct 9, 2026
DirectCommon Stock, par value $0.01011,475
Glenowen Holdings, LLCCommon Stock, par value $0.0100

Additional holdings last reported Jun 18, 2013, not confirmed since: 9,002 shares. Not included in any total or percentage on this page.

Peter Otteni
Executive Vice President
0−9K0not meaningful
Vesting, gifts, unvested awards and holding lines for Peter Otteni
0shares vested or exercised
0gifted (net of own trusts)
53K → 95Kunvested awards, start → end
Held throughShare classOct 9, 2025Oct 9, 2026
DirectCommon OP Units00
DirectCommon Stock, par value $0.0100

20 of 21 insiders fully reconciled: starting holdings plus reported transactions match ending holdings (20 exactly, 0 with a minor or footnoted difference). For 1 we show sales but not holdings; the ! icon on that row explains why. Percentages cover 8 of 21 officers and directors. Left out: Michael Labelle (most of their shares vested during the period, so a percentage would mislead); Douglas Linde, Bryan Koop and Mary Kipp (most holdings were last confirmed in 2021); Matthew Lustig and Rodney Diehl (most holdings were last confirmed in 2023); Joel Klein (most holdings were last confirmed in 2015); Owen Thomas (holdings couldn't be fully reconciled); Bruce Duncan (most holdings were last confirmed in 2020); Michael Walsh (most holdings were last confirmed in 2016); William Walton III, Peter Otteni and Julie Richardson (held no vested shares at the start). "Still held" compares ending with starting vested shares; a plus sign means the holding grew.

What explains the selling$7.7M of sales by plan status, purpose, seller and month

Officer and director open-market sales: $7.7M across 111,773 shares. Plan status and stated purpose are separate questions, and a sale can have both.

By plan status

No plan disclosed · $7.7M

Sales with no 10b5-1 plan and no tax reference in the filing. $2.7M of it is Michael Labelle. No plan disclosed is a statement about the filing, not about why the sale happened. Largest such sale: Raymond Ritchey, Dec 1, 2025

Taxes

2,351 shares ($158K) were withheld by the company for taxes, which isn't a market sale.

SellerShares soldProceedsUnder a disclosed planShare of totalSales dates
Michael Labelle
EVP and CFO
40K$2.7M0%35%Nov 7, 2025 to Jun 9, 2026
Raymond Ritchey
Senior EVP
36K$2.6M0%34%Dec 1, 2025 to Dec 1, 2025
John Stroman
Executive Vice President
17K$1.2M0%16%Nov 12, 2025 to Nov 12, 2025
Peter Otteni
Executive Vice President
9K$588K0%8%Nov 25, 2025 to May 20, 2026
Hilary Spann
Executive Vice President
6.7K$404K0%5%Feb 5, 2026 to Feb 27, 2026
Eric Kevorkian
SVP, CLO and Secretary
2.2K$132K0%2%May 21, 2026 to May 22, 2026
Owen Thomas
Chief Executive Officer, Director
1.2K$73K0%0.9%Feb 13, 2026 to Feb 13, 2026

Sales by month

MonthSale proceedsDisclosed planTo cover taxesNo plan disclosed
Oct 2025$0$0$0$0
Nov 2025$2.5M$0$0$2.5M
Dec 2025$2.6M$0$0$2.6M
Jan 2026$0$0$0$0
Feb 2026$477K$0$0$477K
Mar 2026$0$0$0$0
Apr 2026$0$0$0$0
May 2026$419K$0$0$419K
Jun 2026$1.7M$0$0$1.7M
Jul 2026$0$0$0$0
Aug 2026$0$0$0$0
Sep 2026$0$0$0$0
Oct 2026$0$0$0$0
Is this normal? Selling year by year5 earlier years to compare with

More than usual: about 1.7x the 5-year average. 7 insiders sold; the average is 3 a year.

12 months endingShares soldInsiders who soldProceeds
Oct 9, 2026
Latest 12 months
112K7$7.7M
Oct 9, 2025
1 year earlier
15K2$1.0M
Oct 9, 2024
2 years earlier
41K2$2.9M
Oct 10, 2023
3 years earlier
76K3$5.0M
Oct 10, 2022
4 years earlier
84K4$9.4M
Oct 10, 2021
5 years earlier
107K3$12.1M

Open-market sales (Form 4 code S) by people who were officers or directors, in split-adjusted shares. Earlier years include people who have since left. A sale that an outside holder also reports (a family trust, a fund) is counted with outside holders in every year. Shares, not dollars, are compared, so a change in the stock price doesn't look like a change in selling. Years the filings don't fully cover are shown but left out of the average.

Known gaps and uncertainty1 insider whose holdings couldn't be fully reconciled

Owen Thomas: holdings couldn't be fully reconciled (difference of 11,475 shares). Balance changed without a matching transaction, and the footnote does not state the amount: +11,474.57 shares on Feb 13, 2026 (Direct). Filing, Feb 13, 2026

Footnote: "Includes 2,472.57 shares of Common Stock that the Reporting Person acquired in pursuant to the Boston Properties, Inc. 1999 Non-Qualified Employee Stock Purchase Plan and the Boston Properties, Inc. Dividend Reinvestment and Stock Purchase Plan."

Inferred rename: "Spouse" is treated as the same holder as "Carol Hackett Burt Trust - 2001", because the old name was never reported again and the new one opened with the same balance (1,500 shares). Old name, new name

Inferred rename: "children" is treated as the same holder as "child", because the old name was never reported again and the new one opened with the same balance (800 shares). Old name, new name

External context: we only cite outside events when a documented connection exists. None is shown for this period.

Sources and methodology2,191 filings from SEC EDGAR, and how we read them

All 2,191 Forms 3, 4 and 5 filed for BXP, Inc. (SEC CIK 1037540) from Feb 25, 2003 to Oct 1, 2026, retrieved from SEC EDGAR on Oct 9, 2026. Prices are the ones reported in each filing, often weighted averages. 13 older filings exist only on paper and could not be read.

Holdings. Each holding line (a share class plus an owner, such as a trust or LLC) carries its last reported balance forward. Entities first reported during the period start at zero, so transfers between an insider's own trusts don't count as selling. Lines not reported for three years or more are listed separately and left out of totals.

Sales. A sale counts as under a 10b5-1 plan if its footnote cites one or the filing's Rule 10b5-1 box is checked, and as tax-related if its footnote cites tax obligations or sell-to-cover. Shares withheld by the company for taxes are listed separately. Sales with neither attribute are labeled "no plan disclosed".

Full methodology

Former or inactive filers (28)No filing in 18 months; last reported balances, not in any total
NameLast filedLast reported balance
Carol EinigerApr 1, 202519,283 shares, last reported balance as of May 26, 2023
Kelly AyotteApr 1, 2024No balance on record
Robert PesterFeb 14, 202475,505 shares, last reported balance as of Dec 19, 2018
David TwardockApr 3, 202319,061 shares, last reported balance as of May 26, 2022
Frank BurtFeb 3, 20228,571 shares, last reported balance as of Jan 15, 2014
Karen DykstraJun 1, 202110,732 shares, last reported balance as of May 27, 2021
John PowersApr 5, 202115,978 shares, last reported balance as of Apr 1, 2021
Peter JohnstonFeb 17, 202164,132 shares, last reported balance as of Jan 29, 2021
Martin TurchinApr 2, 20193,857 shares, last reported balance as of Aug 3, 2016
Jacob FrenkelJun 4, 20181,013 shares, last reported balance as of May 24, 2016
Alan PatricofApr 2, 2018No balance on record
Ivan SeidenbergMay 2, 20169,038 shares, last reported balance as of May 27, 2015
Mortimer ZuckermanFeb 23, 20169,126,849 shares, last reported balance as of Mar 13, 2015
Lori SilversteinFeb 23, 2016945 shares, last reported balance as of Jan 15, 2016
Zoe BudingerMay 1, 20142,334 shares, last reported balance as of May 27, 2009
Mitchell LandisOct 1, 201328,370 shares, last reported balance as of May 9, 2012
Robert SelsamMay 21, 201350,562 shares, last reported balance as of May 17, 2013
Arthur FlashmanFeb 5, 20131,402 shares, last reported balance as of May 8, 2012
Lawrence BacowAug 20, 2012No balance on record
Mitchell NorvilleFeb 15, 201236,035 shares, last reported balance as of May 6, 2011
Frederick IsemanOct 4, 2010No balance on record
Richard SalomonMay 3, 201027,289 shares, last reported balance as of May 27, 2009
Edward LindeDec 1, 20096,410,728 shares, last reported balance as of Nov 27, 2009
William DaleyMay 1, 20073,819 shares, last reported balance as of May 10, 2006
Alan LandisMay 3, 20051,444,684 shares, last reported balance as of Aug 12, 2003
Alan LandisMay 3, 2005106,571 shares, last reported balance as of Aug 12, 2003
Robert BurkeJan 31, 2005No balance on record
William WedgeNo balance on record

Spotted something wrong on this page? Report an error. We check every report against the SEC filing and list what we fix in the corrections log.