Blackstone Real Estate Income Trust (BSTT) grants director 13.7K restricted shares

Rhea-AI Filing Summary

Blackstone Real Estate Income Trust, Inc. (BSTT) director Susan Carras reported an acquisition of 13,653.834 shares of Class I Common Stock as a grant of restricted stock on August 14, 2026. This award is compensation that vests on August 14, 2027.

The reported direct holdings after this grant total 85,249.395 shares, which include 70.382 bonus shares previously issued for no consideration and not reported on an earlier Form 4. In addition, 17,542.629 shares are held indirectly through a limited liability company.

Insider Trade Summary

Net Buyer: 13,653.834 shares

Net Buy 2 txns

Insider Carras Susan

Role Director

Type	Security	Shares	Price	Value
Grant/Award	Class I Common Stock F1, F2	13,653.834	$0.00	$0.00
holding	Class I Common Stock F3	--	--	--

Holdings After Transaction: Class I Common Stock — 85,249.395 shares (Direct); Class I Common Stock — 17,542.629 shares (Indirect, See footnote)

Footnotes (3)

1. F1. Reflects a grant of restricted stock as compensation that vests on August 14, 2027.
2. F2. Includes 70.382 shares which were issued as bonus shares for no consideration and inadvertently not reported on an earlier Form 4 filed on March 3, 2026.
3. F3. Held through a limited liability company.

Key Figures

Restricted stock grant: 13,653.834 shares Vesting date: August 14, 2027 Direct holdings after transaction: 85,249.395 shares +2 more

5 metrics

Restricted stock grant 13,653.834 shares Grant of Class I Common Stock as compensation on August 14, 2026

Vesting date August 14, 2027 Vesting date of the reported restricted stock grant

Direct holdings after transaction 85,249.395 shares Total direct Class I Common Stock held by Susan Carras after the grant

Indirect holdings 17,542.629 shares Class I Common Stock held indirectly through a limited liability company

Bonus shares included 70.382 shares Bonus shares issued for no consideration and previously unreported, now included in direct holdings

Key Terms

restricted stock, bonus shares, indirect, limited liability company

4 terms

restricted stock financial

"Reflects a grant of restricted stock as compensation that vests on August 14, 2027"

Shares granted to an individual that carry limits on transfer or sale until certain conditions are met, such as staying with the company for a set time or hitting performance targets. Think of them as a locked gift that gradually opens; for investors they matter because they affect how many shares may enter the market later, signal management incentives and potential dilution, and reveal confidence in future company performance.

bonus shares financial

"Includes 70.382 shares which were issued as bonus shares for no consideration"

Bonus shares are extra company shares given free to existing shareholders in proportion to their holdings, paid out of the company’s reserves instead of cash. Think of it like a cake being cut into more slices so each owner gets additional pieces—their overall percentage ownership stays the same but each share represents a smaller slice of earnings. Investors watch bonus issues because they change the number of shares, which affects per-share metrics, liquidity and market perception without altering the company’s underlying wealth.

indirect financial

"Held through a limited liability company"

limited liability company financial

"Held through a limited liability company"

A limited liability company (LLC) is a business structure that separates the owners’ personal assets from the company’s debts and legal obligations, like a protective shield that keeps personal savings and property distinct from business risk. For investors, that protection reduces personal financial exposure and often brings flexible rules for profit sharing and taxes, but it can also affect how easily interests are bought or sold and how decisions are made.

FAQ

What insider transaction did BSTT director Susan Carras report on this Form 4?

Susan Carras reported a grant of 13,653.834 restricted shares of BSTT Class I Common Stock on August 14, 2026, received as compensation. The restricted stock vests in the future rather than being immediately unrestricted.

When do the newly granted BSTT restricted shares to Susan Carras vest?

The granted restricted shares vest on August 14, 2027. Until vesting, the shares are subject to restrictions described in the grant, after which they become fully owned subject to any applicable company policies.

How many BSTT shares does Susan Carras hold directly after this transaction?

After the reported grant, Susan Carras directly holds 85,249.395 shares of BSTT Class I Common Stock. This figure includes 70.382 bonus shares that were previously issued for no consideration but not reported on an earlier Form 4.

Does Susan Carras have any indirect ownership of BSTT shares?

Yes. In addition to direct holdings, 17,542.629 shares of BSTT Class I Common Stock are held indirectly through a limited liability company, as indicated in the filing’s ownership disclosure footnote.

What are the 70.382 BSTT bonus shares mentioned in the Form 4 footnote?

The filing states that 70.382 shares were issued as bonus shares for no consideration and were inadvertently not reported on a prior Form 4 filed on March 3, 2026. They are now included in the reported direct holdings total.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Form 4 Insider Transactions: What Each Field Means →

Available on EDGAR 08/18/2026 - 05:06 PM Accepted by SEC EDGAR 08/18/2026 - 05:05 PM Learn about SEC filing dates

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

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

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Carras Susan

(Last) (First) (Middle)

C/O BLACKSTONE REAL ESTATE INCOME TRUST,

INC. 345 PARK AVENUE

(Street)

NEW YORK NEW YORK 10154

(City) (State) (Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
Blackstone Real Estate Income Trust, Inc. [ NONE ]

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

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
08/14/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

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

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)
			Code	V	Amount	(A) or (D)	Price
Class I Common Stock	08/14/2026		A(1)		13,653.834	A	$0	85,249.395(2)	D
Class I Common Stock								17,542.629	I	See footnote(3)

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 Securities Underlying Derivative Security (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: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. Reflects a grant of restricted stock as compensation that vests on August 14, 2027.

2. Includes 70.382 shares which were issued as bonus shares for no consideration and inadvertently not reported on an earlier Form 4 filed on March 3, 2026.

3. Held through a limited liability company.

Remarks:

	/s/ Leon Volchyok, Attorney-in-Fact	08/18/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* 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).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
* Form 4: SEC 1474 (03-26)