<div id="readability-page-1">05:26 AM EST, 12/23/2025 (MT Newswires) -- BXP (BXP) said late Monday that it amended and restated the employment agreement of Owen Thomas, its chief executive officer and chairman of the board, extending his term through Dec. 31, 2029.The company said the agreement aligns with its multi-year strategic plan unveiled at its September 2025 Investor Day.The board also approved a new 2025 Outperformance Plan, granting equity awards to Thomas and other senior executives to retain leadership and align incentives with shareholder returns, BXP said.The company said the awards will vest only if its dividend-adjusted stock price reaches at least $90 for 20 consecutive trading days by December 2029, with maximum payouts tied to a price of $118.BXP expects to record approximately $32.1 million in compensation expense related to the plan over four years, including roughly $11.6 million in 2026.Thomas's prior agreement was set to expire in December 2026, it added. MT Newswires does not provide investment advice. Unauthorized reproduction is strictly prohibited.</div>

BXP has extended CEO Owen Thomas' employment contract through December 2029, aligning with its strategic plan. A new Outperformance Plan grants equity awards to Thomas and senior executives, vesting if the stock price reaches $90 for 20 consecutive days by 2029, with maximum payouts at $118. BXP expects $32.1 million in compensation expenses over four years. Thomas's previous contract was to expire in December 2026.

BXP Extends Chief Executive Owen Thomas' Employment Contract