Edgar Filing: RITCHEY RAYMOND A

Ownership Submission

FORM 4

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940

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(Print or Type Responses)

1. Name and Address of Reporting Person ^*

RITCHEY RAYMOND A

2. Issuer Name and Ticker or Trading Symbol
BOSTON PROPERTIES INC [BXP]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

_____ Director	_____ 10% Owner
__X__ Officer (give title below)	_____ Other (specify below)
Executive Vice President

(Last)

(First)

(Middle)

C/O BOSTON PROPERTIES, INC., 111 HUNTINGTON AVENUE

3. Date of Earliest Transaction (Month/Day/Year)
02/08/2007

(Street)

BOSTON, MA 02199

4. If Amendment, Date Original Filed(Month/Day/Year)

6. Individual or Joint/Group Filing(Check Applicable Line)
_X_ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person

(City)

(State)

(Zip)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned

1.Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
1.Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Common Stock, par value $.01	02/08/2007		M		60,000	A	$ 37.45 ⁽¹⁾ ⁽²⁾	90,212	D
Common Stock, par value $.01	02/08/2007		S		8,000	D	$ 131.17	82,212	D
Common Stock, par value $.01	02/08/2007		S		300	D	$ 131.03	81,912	D
Common Stock, par value $.01	02/08/2007		S		1,100	D	$ 131.02	80,812	D
Common Stock, par value $.01	02/08/2007		S		300	D	$ 131.01	80,512	D
Common Stock, par value $.01	02/08/2007		S		200	D	$ 130.98	80,312	D
Common Stock, par value $.01	02/08/2007		S		100	D	$ 130.95	80,212	D
Common Stock, par value $.01	02/08/2007		S		900	D	$ 130.94	79,312	D
Common Stock, par value $.01	02/08/2007		S		100	D	$ 130.93	79,212	D
Common Stock, par value $.01	02/08/2007		S		400	D	$ 130.92	78,812	D
Common Stock, par value $.01	02/08/2007		S		100	D	$ 130.91	78,712	D
Common Stock, par value $.01	02/08/2007		S		300	D	$ 130.9	78,412	D
Common Stock, par value $.01	02/08/2007		S		1,000	D	$ 130.89	77,412	D
Common Stock, par value $.01	02/08/2007		S		500	D	$ 130.88	76,912	D
Common Stock, par value $.01	02/08/2007		S		100	D	$ 130.86	76,812	D
Common Stock, par value $.01	02/08/2007		S		200	D	$ 130.84	76,612	D
Common Stock, par value $.01	02/08/2007		S		1,100	D	$ 130.83	75,512	D
Common Stock, par value $.01	02/08/2007		S		1,300	D	$ 130.81	74,212	D
Common Stock, par value $.01	02/08/2007		S		100	D	$ 130.77	74,112	D
Common Stock, par value $.01	02/08/2007		S		300	D	$ 130.75	73,812	D
Common Stock, par value $.01	02/08/2007		S		500	D	$ 130.7	73,312	D
Common Stock, par value $.01	02/08/2007		S		300	D	$ 130.68	73,012	D
Common Stock, par value $.01	02/08/2007		S		900	D	$ 130.66	72,112	D
Common Stock, par value $.01	02/08/2007		S		500	D	$ 130.65	71,612	D
Common Stock, par value $.01	02/08/2007		S		100	D	$ 130.64	71,512	D
Common Stock, par value $.01	02/08/2007		S		1,000	D	$ 130.63	70,512	D
Common Stock, par value $.01	02/08/2007		S		1,500	D	$ 130.61	69,012	D
Common Stock, par value $.01	02/08/2007		S		100	D	$ 130.6	68,912	D
Common Stock, par value $.01	02/08/2007		S		300	D	$ 130.59	68,612	D
Common Stock, par value $.01	02/08/2007		S		1,200	D	$ 130.58	67,412	D

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)

1. Title of Derivative Security
(Instr. 3)

2. Conversion or Exercise Price of Derivative Security

3. Transaction Date (Month/Day/Year)

3A. Deemed Execution Date, if any (Month/Day/Year)

4. Transaction Code
(Instr. 8)

5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4, and 5)

6. Date Exercisable and Expiration Date
(Month/Day/Year)

7. Title and Amount of Underlying Securities
(Instr. 3 and 4)

8. Price of Derivative Security
(Instr. 5)

9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 4)

10. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 4)

11. Nature of Indirect Beneficial Ownership
(Instr. 4)

Code

(A)

(D)

Date Exercisable

Expiration Date

Title

Amount or Number of Shares

Employee Stock Option (right to buy)

$ 37.45 ⁽¹⁾ ⁽²⁾

02/08/2007

60,000

⁽³⁾

01/18/2011

Common Stock

60,000

$ 0

62,419 ⁽¹⁾ ⁽²⁾

Reporting Owners

Reporting Owner Name / Address	Relationships
Reporting Owner Name / Address	Director	10% Owner	Officer	Other
RITCHEY RAYMOND A C/O BOSTON PROPERTIES, INC. 111 HUNTINGTON AVENUE BOSTON, MA 02199			Executive Vice President

Signatures

/s/ Kelli A. DiLuglio, as Attorney-in-Fact		02/12/2007
^**Signature of Reporting Person		Date

Explanation of Responses:

*	If the form is filed by more than one reporting person, see Instruction 4(b)(v).
**	Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1)	In (1) October 2005, the issuer paid a special dividend of $2.50 per share of common stock to all stockholders of record as of the close of business on September 30, 2005 and (2) January 2007, the issuer paid a special dividend of $5.40 per share to all stockholders of record as of the close of business on December 29, 2006. In connection with each of these special dividends, the issuer's Board of Directors adjusted all options that were awarded, but not exercised, prior to the ex-dividend date for each special dividend to account for the effect of each special dividend. The number of shares subject to each such option was increased and the exercise price correspondingly decreased such that each option had the same fair value to the holder before and after giving effect to the payment of each special dividend.
(2)	Pursuant to the adjustments dexcribed in Footnote 1, the number of shares underlying Mr. Ritchey's options increased by 4,064 from 112,500 to 116,564 in September 2005 and by 5,855 from 116,564 to 122,419 in December 2006, and the per share exercise price was correspondingly decreased.
(3)	The options vested in three equal annual installments beginning on January 18, 2002.
Remarks: This is the first of three Form 4's the Reporting Person filed on February 12, 2007.

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