John Stroman

About John Stroman

John J. Stroman is Executive Vice President, Co-Head of the Washington, DC Region at BXP, a role he has held since January 2022. He joined BXP in 2005 and has direct responsibility for overseeing all leasing, legal, and property management activities for the Washington, DC region. He holds a BS in Civil Engineering from Johns Hopkins University and an MBA in Real Estate from the University of North Carolina’s Kenan-Flagler Business School. Age 46 as of May 20, 2025; executive compensation programs at BXP tie long-term incentives to three-year performance on TSR and diluted FFO per share growth (40% each) and average leverage ratio (20%), with the 2022 MYLTIP cycle paying out at 59% of target based on company performance.

Past Roles

Organization	Role	Years	Strategic Impact
BXP	Executive Vice President, Co-Head of Washington, DC Region	Jan 2022 – present	Oversees leasing, legal, and property management activities for the DC region
BXP	Senior Vice President, Co-Head of Washington, DC Region	Apr 2021 – Dec 2021	Joint responsibility for regional business activities
BXP	Senior Vice President, Leasing	2020 – Apr 2021	Led regional leasing strategy and execution
BXP	Vice President, Leasing	2019 – 2020	Managed leasing operations
BXP	Vice President, Development	2011 – 2019	Led development initiatives in the region

External Roles

Organization	Role	Years	Notes
Not disclosed in BXP’s executive officer biography	—	—	The 2025 Proxy biography for Mr. Stroman lists internal BXP roles only

Performance Compensation

BXP’s program features annual cash incentives linked to pre-established goals in three categories with specific weightings and caps, plus multi-year performance-based LTIP units (MYLTIP) tied to quantitative metrics.

Metric	Weighting	Target Definition	Actual (latest disclosed)	Payout Mechanics	Vesting/Measurement
Total Shareholder Return (TSR)	40%	Company-defined TSR thresholds (relative and/or absolute)	2022 MYLTIP cycle paid 59% of target at the company level	Performance-based LTI awards capped at 200% of target shares	Three-year measurement period; graded attribution of expense; earned units vest subject to service conditions
Diluted FFO per share growth	40%	Company-defined FFO growth thresholds over 3 years	Not individually disclosed by executive	Performance-based LTI awards capped at 200% of target shares	Three-year measurement period; same as above
Average leverage ratio	20%	Company-defined leverage thresholds	Not individually disclosed by executive	Performance-based LTI awards capped at 200% of target shares	Three-year measurement period; same as above

Additional program structure:

Annual cash incentives for executives are linked to goals in three categories with defined weightings; maximum cash payout capped at 150% of target .
BXP has not granted stock options since 2013 and has no plans to do so; performance and time-based awards are LTIP units and restricted stock .
A substantial majority of restricted stock and LTIP units to employees vest in four equal annual installments .

Equity Ownership & Alignment

Policy/Item	Details
Ownership guideline for EVP Regional Manager	2.0x base salary; executives have five years beginning January 1 following appointment to achieve compliance. Stock options do not count toward guidelines
Anti-hedging/anti-pledging	Hedging, pledging, and short sales of Company securities are prohibited for executives
Clawback	Company requires recovery of erroneously awarded incentive-based compensation in the event of a financial restatement
Equity grant timing	Annual grants approved late Jan/early Feb with effective date immediately following the second trading day after prior year results are released; number of units determined by award dollar value and market price
Instruments used	Restricted common stock and LTIP Units; MYLTIP used for multi-year performance awards; no option grants since 2013
Beneficial ownership (individual)	Not disclosed for Mr. Stroman in the 2025 Proxy’s principal and management stockholders table, which details directors and NEOs

Employment Terms

Term/Provision	Details
Office term	Executive officers hold office until the regular Board meeting following the next annual meeting, unless earlier resignation or removal
Double-trigger vesting	Time-based equity awards feature double-trigger vesting in change-of-control scenarios per governance highlights
Retirement eligibility provisions	Equity awards generally subject to multi-year vesting, with retirement eligibility terms referenced in termination/change-in-control section (program-level)
Deferred compensation	Executives have access to the Nonqualified Deferred Compensation Plan; measurement funds mirror those available to directors
Workforce tenure context	Average officer tenure is 18.4 years, indicating strong retention environment at BXP

Investment Implications

Alignment: Robust stock ownership guidelines (2x base for EVP Regional Managers), a stringent anti-hedging/anti-pledging policy, and a formal clawback framework collectively strengthen pay-for-performance alignment and reduce misaligned trading behavior.
Retention vs. selling pressure: With four-year vesting on most time-based equity and no stock options since 2013, equity-driven liquidity is paced and option-related forced selling or repricing risk is minimized.
Performance signal: The 2022 MYLTIP paid 59% of target, indicating moderate achievement on TSR-related metrics in that cycle; future payouts on TSR, FFO/share growth, and leverage ratio should be monitored for comp-aligned signals.
Disclosure constraint: Mr. Stroman is not a Named Executive Officer in the proxy, limiting visibility into his base salary, annual bonus, and individual grant sizes—focus monitoring on program-level grants, Form 4 filings, and region-level operating updates as available.