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BXP Inc Executive Compensation (FY25)

BXP · Boston, MA · Executive and director compensation, fiscal 2022 to 2025
Data as of September 7, 2026Latest filing (8-K): May 22, 2026
252 figures on this page: 241 cited to the filing that reported them, 11 calculated from figures it prints. See the citations
Owen Thomas was paid $23,047,305 in total compensation as Chief Executive Officer for fiscal 2025, and Thomas' total was 79.4% higher than the $12,844,078 reported for fiscal 2024. The disclosed chief executive pay ratio for fiscal 2025 is 164.5:1, against median employee compensation of $140,113. The say-on-pay proposal drew 68.8% of votes cast including abstentions in favor at the meeting held May 21, 2026 for fiscal 2025. The disclosed peer group names Douglas Emmett, Inc., Empire State Realty Trust, Hudson Pacific Properties, Inc., Kilroy Realty Corporation and SL Green Realty Corp., among others.
Chief executive, fiscal 2025
◇
Owen Thomas
Latest say-on-pay support
=
May 21, 2026
Chief executive pay ratio
◇
To the median employee
What changed from fiscal 2024 to fiscal 2025
The figures that moved, and by how much. Analysis of these figures is part of the Velarion platform.
Chief executive total compensation — Owen Thomas: $12,844,078 → $23,047,305 (79.4% higher)
Say-on-pay support: 88.1% → 68.8% (19.3 points lower)
CEO pay ratio: 93:1 → 164.5:1 (76.9% higher)

Frequently asked questions

Answers drawn from the data on this page.
Who is BXP Inc's chief executive and what were they paid?
Owen Thomas was paid $23,047,305 in total compensation as Chief Executive Officer for fiscal 2025. Thomas' total was 79.4% higher than the $12,844,078 reported for fiscal 2024.
What was BXP Inc's say-on-pay result?
The say-on-pay proposal drew 68.8% of votes cast including abstentions in favor at the meeting held May 21, 2026 for fiscal 2025.
Which companies are in BXP Inc's peer group?
The disclosed peer group names Douglas Emmett, Inc., Empire State Realty Trust, Hudson Pacific Properties, Inc., Kilroy Realty Corporation and SL Green Realty Corp., among others.
What is BXP Inc's chief executive pay ratio?
The disclosed chief executive pay ratio for fiscal 2025 is 164.5:1, against median employee compensation of $140,113.

Executive compensation

Every element reported for each named executive officer, by fiscal year.
Fiscal 2022
OfficerSalaryBonusStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
Owen Thomas
Chairman and Chief Executive Officer
◇—◇—◇—◇◇
Douglas Linde
President
◇—◇—◇—◇◇
Michael LaBelle
Executive Vice President Chief Financial Officer & Treasurer
◇—◇—◇—◇◇
Bryan Koop
Executive Vice President, Boston Region
◇—◇—◇—◇◇
Fiscal 2023
OfficerSalaryBonusStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
Owen Thomas
Chairman and Chief Executive Officer
◇—◇—◇—◇◇
Douglas Linde
President
◇—◇—◇—◇◇
Michael LaBelle
Executive Vice President Chief Financial Officer & Treasurer
◇—◇—◇—◇◇
Bryan Koop
Executive Vice President, Boston Region
◇—◇—◇—◇◇
Fiscal 2024
OfficerSalaryBonusStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
Owen Thomas
Chairman and Chief Executive Officer
◇—◇—◇—◇◇
Douglas Linde
President
◇—◇—◇—◇◇
Michael LaBelle
Executive Vice President Chief Financial Officer & Treasurer
◇—◇—◇—◇◇
Bryan Koop
Executive Vice President, Boston Region
◇—◇—◇—◇◇
Hilary Spann
Executive Vice President, New York Region
◇—◇—◇—◇◇
Fiscal 2025
OfficerSalaryBonusStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
Owen Thomas
Chief Executive Officer
◇—◇—◇—◇◇
Douglas Linde
President
◇—◇—◇—◇◇
Michael LaBelle
Executive Vice President Chief Financial Officer & Treasurer
◇—◇—◇—◇◇
Bryan Koop
Executive Vice President, Boston Region
◇—◇—◇—◇◇
Hilary Spann
Executive Vice President, New York Region
◇—◇—◇—◇◇
A dash means the company reported no figure in that column. $0 is shown only where the filing prints a zero. A negative change in pension value is shown but, as the company reports it, not included in the total.

Equity awards granted

Individual awards as disclosed: type, date, unit counts at each level, and grant date value.
Fiscal 2025
OfficerAwardGrant dateThreshold unitsTarget unitsUnits grantedMaximum unitsExercise priceGrant date fair value
Bryan J. KoopPSU◇◇◇—◇—◇
Bryan J. KoopPSU◇— withheld◇—◇—◇
Bryan J. KoopRSU◇——◇——◇
Douglas T. LindePSU◇— withheld◇—◇—◇
Douglas T. LindeRSU◇——◇——◇
Douglas T. LindePSU◇◇◇—◇—◇
Hilary J. SpannRSU◇——◇——◇
Hilary J. SpannPSU◇◇◇—◇—◇
Hilary J. SpannPSU◇— withheld◇—◇—◇
Michael E. LaBelleRSU◇——◇——◇
Michael E. LaBellePSU◇◇◇—◇—◇
Michael E. LaBellePSU◇— withheld◇—◇—◇
Owen D. ThomasPSU◇— withheld◇—◇—◇
Owen D. ThomasRSU◇——◇——◇
Owen D. ThomasPSU◇◇◇—◇—◇
Fiscal 2022, 2023, 2024 are included in the PDF.
A dash means the company reported no figure in that column. $0 is shown only where the filing prints a zero. Threshold, target and maximum apply only to performance awards and are never shown for time-based or option awards.

Outstanding awards

Awards still held at fiscal year end.
As disclosed at fiscal 2025 year end
OfficerAwardUnvested unitsMarket value of unvested unitsExercise priceExpires
Douglas LindeRSU◇◇——
PSU◇◇——
Michael LaBellePSU◇◇——
RSU◇◇——
Bryan KoopPSU◇◇——
RSU◇◇——
Owen ThomasPSU◇◇——
Hilary SpannRSU◇◇——
PSU◇◇——
A dash means the company reported no figure in that column. $0 is shown only where the filing prints a zero.

Director compensation

What each non-employee director was paid.
Fiscal 2025
DirectorFees earned in cashStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
Joel I. Klein
Lead independent director
◇◇————◇
Bruce W. Duncan
◇◇————◇
Diane J. Hoskins
◇◇————◇
Timothy J. Naughton
◇◇————◇
Matthew J. Lustig
◇◇————◇
Mary E. Kipp
◇◇————◇
Derek Anthony (Tony) West
◇◇————◇
William H. Walton, III
◇◇————◇
Julie G. Richardson
◇◇————◇
Carol B. Einiger
◇—————◇
Owen Thomas and Douglas Linde served on the board in fiscal 2025 and received no compensation for board service. Executive directors are typically paid through their executive roles, shown above.
Earlier years are included in the PDF.
A dash means the company reported no figure in that column. $0 is shown only where the filing prints a zero.

Director fee schedule

The standing retainers and premiums the board pays, as published.
Board cash retainer◇
Board equity retainer◇
Total board retainer◇
Board chair premium◇
Lead independent director premium◇
Audit committee member◇
Compensation committee member◇
Nominating and governance member◇
Equity is delivered as LTIP Units/Restricted Stock.

Disclosed peer group

The companies this board named as its compensation comparison group. The list is disclosure; the comparison is analysis.
Fiscal 2025
  • Douglas Emmett, Inc. DEI
  • Empire State Realty Trust ESRT
  • Hudson Pacific Properties, Inc. HPP
  • Kilroy Realty Corporation KRC
  • SL Green Realty Corp. SLG
  • Vornado Realty Trust VNO

Say-on-pay history

Shareholder support for the compensation program, by year.
YearMeetingSupportVotes forVotes againstAbstentions
2025May 21, 2026=◇◇◇
2024May 20, 2025=◇◇◇
2023May 22, 2024=◇◇◇
2022May 23, 2023=◇◇◇
2021May 19, 2022=◇◇◇
2020May 20, 2021=◇◇◇
2019May 20, 2020=◇◇◇
2018May 21, 2019=◇◇◇
2017May 23, 2018=◇◇◇
2016May 23, 2017=◇◇◇
2015May 18, 2016=◇◇◇

Chief executive pay ratio

As calculated and reported by the company.
Ratio
◇
Median employee compensation
◇
Chief executive total compensation
◇
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What this page does not include

Everything above is a fact BXP Inc disclosed, and it is free. Everything below is our analysis of those facts, and it is not.
Peer benchmarking
Where BXP Inc sits against its disclosed peers — percentile position by role and by pay element, and the ranking behind it. The disclosed peer group is free; comparisons across it are part of the Velarion platform.
Executive Compensation Report — $1,500
Written compensation analysis
A read of the pay program as designed and as paid: incentive structure, goal rigor, the alignment between the committee's stated philosophy and what the numbers show.
Executive Compensation Report — $1,500
Board and governance analysis
Committee composition, independence, director pay positioning, and the governance provisions read together rather than listed.
Board Governance Report — $1,200
Realizable pay
What the awards above are actually worth today against what they were valued at on grant, and what the gap says about the pay-for-performance link.
Velarion Intelligence
Say-on-pay responsiveness
BXP Inc recorded a low support level. The responsiveness analysis covers what the company said it would do, what it did, and how that compares with the companies that recovered their vote.
Responsiveness analysis
Adviser switching and vote outcomes
Two datasets covering compensation-adviser changes and what followed a contested vote. Both are part of the Velarion platform.
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Citations

Every figure on this page is cited to the document that reported it. Select any figure to see its citation.
252 figures on this page: 241 cited to the filing that reported them, 11 calculated from figures it prints.
241 cited to the filing
11 calculated from the filing

Documents cited

  1. 0001037540-26-000022
    Item 5.07 Submission of Matters to a Vote of Security Holders
  2. 0001037540-26-000010
    Components of Director Compensation · Director Compensation Table · Grants of Plan-Based Awards in 202 · Outstanding Equity Awards at 2025 Fiscal Year-End · and 2 more sections
  3. 0001656423-25-000037
    Item 5.07 Submission of Matters to a Vote of Security Holders
  4. 0001656423-25-000020
    Summary Compensation Table
  5. 0001656423-24-000030
    Item 5.07 Submission of Matters to a Vote of Security Holders
  6. 0001656423-23-000031
  7. 0001193125-23-099394
    Summary Compensation Table
  8. 0001656423-22-000024
  9. 0001656423-21-000017
    Say-on-Pay Proposal
  10. 0001656423-20-000026
    Say-on-Pay Proposal
  11. 0001656423-19-000017
    Item 5.07 Submission of Matters to a Vote of Security Holders
  12. 0001656423-18-000014
  13. 0001193125-17-181715
  14. 0001193125-16-595345
    Item 5.07 Submission of Matters to a Vote of Security Holders
  15. 0001656423-24-000016
    Summary Compensation Table
Cite this data
This page is free to cite. Attribution we ask for:
Velarion, “BXP Inc executive compensation, FY2022–FY2025.” https://intel.velarion.ai/comp/BXP (accessed 2026).
Short form: data: Velarion
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Real Estate rankings

Chief executive pay — Real EstateCEO pay ratio — Real EstateSay-on-pay support — Real Estate

Peers BXP Inc discloses

The companies named in BXP's own disclosed peer group.

Douglas Emmett, Inc.Empire State Realty TrustHudson Pacific Properties, Inc.Kilroy Realty CorporationSL Green Realty Corp.Vornado Realty Trust

Terms on this page

Say-on-Pay VoteCEO Pay RatioMedian Employee CompensationAll companies
Cite this data
APA
Velarion Company Intelligence. (2026). Velarion database: executive and board compensation data (Version 2026Q3) [Data set]. Zenodo. https://doi.org/10.5281/zenodo.22283854
BibTeX
@misc{velarionData2026,
  author = {{Velarion Company Intelligence}},
  title = {Velarion database: executive and board compensation data},
  year = {2026},
  version = {2026Q3},
  doi = {10.5281/zenodo.22283854},
  publisher = {Zenodo},
  url = {https://doi.org/10.5281/zenodo.22283854}
}
For informational purposes only. Not investment, legal, or compensation advice.  The Pay Desk · Methodology · Terms · Privacy