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Owen D. Thomas

Chairman of the Board and CEO at BXP
Board
Since April 2, 2013
Age
62 years
Education
Holds a BS in Mechanical Engineering from the University of Virginia and an MBA from Harvard Business School.
Tenure
Joined BXP as CEO on April 2, 2013 and was promoted to Chairman in May 2022.

Also at BXP

BJK
Bryan J. Koop
EVP, Boston Region
DDG
Donna D. Garesch\u00e9
EVP, Chief Human Resources Officer
DTL
Douglas T. Linde
President

About

Owen D. Thomas has built an illustrious career marked by over 35 years of executive leadership in the financial and real estate sectors, contributing significantly to the strategic direction and success of his organizations. His early career included key roles at major institutions such as Morgan Stanley, where he held senior positions in areas including real estate management and investment, setting the stage for his later achievements in corporate leadership.

At BXP, his leadership style has been defined by a commitment to innovation and sustainability, guiding the company through periods of economic volatility and ensuring its prominence in competitive gateway markets. His ability to navigate the complexities of the financial markets has also been reflected in his previous board roles and executive functions at Lehman Brothers and other prestigious companies.

Beyond his corporate achievements, he has demonstrated a strong commitment to industry initiatives and community involvement, contributing to organizations such as the Urban Land Institute, Real Estate Roundtable, and Nareit, among others. This blend of robust professional expertise and dedication to broader industry and community efforts underscores a career that is both impactful and multifaceted.

$BXP Performance Under Owen D. Thomas

Past Roles

OrganizationRoleDate RangeDetails
Lehman Brothers Holdings Inc. (LBHI) Chairman of the Board / Board Member March 2012 – March 2013 Served concurrently as Chairman and Board Member
Grosvenor Group Limited Director 2011 – 2013 N/A
Morgan Stanley Various Roles (CEO of Morgan Stanley Asia Ltd., President of Investment Management, Head of Real Estate, Managing Director, Member of Management Committee) 1987 – 2011 Held multiple leadership roles
University of Virginia Investment Management Company Former Director N/A Academic position

External Roles

OrganizationRoleDate RangeDetails
Nareit Member of the Advisory Board of Governors Current N/A
The Economic Club of New York Member Current N/A
Woodberry Forest School Chairman of the Board of Trustees Current N/A
Urban Land Institute Member Current Former Global Chairman
Real Estate Roundtable Director Current N/A

Fixed Compensation

Data from  FY 2023
Component NameAmountPayment ScheduleAdditional Details
Base Salary (2023)$950,000 AnnualFixed base salary for 2023
Deferred Compensation Contributions (2023)$189,615 AnnualContributions to deferred compensation plan included in salary

Performance Compensation

Data from  FY 2023

Annual Bonus / AIP Performance Metrics

MetricThresholdTargetMaximum2023 ResultPayout %
FFO per Share$6.77 $7.13 $7.49 $7.30 124.0%
Leasing (Short-term)1.9M sq. ft. 3.2M sq. ft. 4.4M sq. ft. 2.9M sq. ft. 90.0%
Leasing (Total)2.0M sq. ft. 3.4M sq. ft. 4.8M sq. ft. 3.7M sq. ft. 114.0%
Business & Individual GoalsN/A N/AN/AAchieved 120.0%

Target Bonus: $2,350,000
Actual Bonus: $2,721,300 (115.8% of target)
Evaluation Period: Calendar year 2023; bonus paid by March 15, 2024.

Long-Term Incentive (LTI) Equity Awards

Time-Based Awards

  • Number of Units: 56,637 units
  • Grant Date: February 3, 2023
  • Grant Date Fair Value: $4,036,028
  • Vesting Schedule: Vesting 25% annually over 4 years starting January 15, 2024

Performance-Based MYLTIP Awards

  • Number of Units (Target/Max): Target: 64,202 units, Maximum: 128,403 units
  • Grant Date: February 7, 2023
  • Grant Date Fair Value: $5,225,000
  • Baseline Share Price: $64.288
  • Performance Period: February 7, 2023 to February 6, 2026
  • Performance Metrics:
    • Relative TSR and Absolute TSR
    • Threshold: 0%, Target: 100%, Maximum: 200%
  • Additional Conditions: Awards vest based on TSR performance with an additional one-year post-vesting holding period before monetization