Blackstone (BX) CAO Vikrant Sawhney awarded 129,077 deferred restricted shares

Rhea-AI Filing Summary

Sawhney Vikrant reported acquisition or exercise transactions in this Form 4 filing.

Blackstone Inc. Chief Administrative Officer Vikrant Sawhney received a grant of 129,077 shares of Blackstone common stock as deferred restricted shares under the Amended and Restated 2007 Equity Incentive Plan. The grant was recorded at a price of $0.00 per share as compensation, not a market purchase.

Following the award, he holds 929,683 shares directly. The deferred restricted shares vest over several dates: 12,908 shares on July 1, 2027; 12,908 shares on July 1, 2028; 25,815 shares on July 1, 2029; 38,723 shares on July 1, 2030; and 38,723 shares on July 1, 2031. As these shares vest, they will be delivered to him, though one quarter of each vested tranche will be held back and delivered on a future date under his award agreement, and they may be delivered earlier upon a change in control of Blackstone.

He also has 17,600 Blackstone shares held indirectly in a grantor retained annuity trust, for which he serves as investment trustee. Certain transfers between the trust and Mr. Sawhney were exempt from reporting under Rule 16a-13.

Insider Trade Summary

2 transactions reported

Mixed 2 txns

Insider Sawhney Vikrant

Role Chief Administrative Officer

Type	Security	Shares	Price	Value
Grant/Award	Common Stock	129,077	$0.00	--
holding	Common Stock	--	--	--

Holdings After Transaction: Common Stock — 929,683 shares (Direct); Common Stock — 17,600 shares (Indirect, See footnote)

Footnotes (1)

1. Granted under the Amended and Restated 2007 Equity Incentive Plan, 10% of these deferred restricted shares, or 12,908 shares, will vest on July 1, 2027; an additional 10%, or 12,908 shares, will on July 1, 2028; an additional 20%, or 25,815 shares, will vest on July 1, 2029; an additional 30%, or 38,723 shares, will vest on July 1, 2030; and the remaining 30%, or 38,723 shares, will vest on July 1, 2031. As these deferred restricted shares vest, the shares will be delivered to the Reporting Person, except that 1/4 of the vested shares will be held back and delivered on a future date pursuant to the terms of the Reporting Person's award agreement. Notwithstanding the foregoing, the shares may be delivered earlier upon a change in control of Blackstone. Reflects certain transfers made between a grantor retained annuity trust ("GRAT") and the Reporting Person. Such transfers were exempt from reporting pursuant to Rule 16a-13 under the Securities Exchange Act of 1934, as amended. Such Blackstone shares are held in a GRAT, for which the Reporting Person serves as investment trustee.

Key Figures

Restricted shares granted: 129,077 shares Grant price per share: $0.00/share Direct holdings after grant: 929,683 shares +5 more

8 metrics

Restricted shares granted 129,077 shares Deferred restricted stock award on 2026-04-01

Grant price per share $0.00/share Compensation grant, not open-market purchase

Direct holdings after grant 929,683 shares Common stock directly owned following the award

Indirect GRAT holdings 17,600 shares Common stock held in a grantor retained annuity trust

First vesting tranche 12,908 shares Vesting on July 1, 2027

Second vesting tranche 12,908 shares Vesting on July 1, 2028

Third vesting tranche 25,815 shares Vesting on July 1, 2029

Final vesting tranches 38,723 shares each Vesting on July 1, 2030 and July 1, 2031

Key Terms

Amended and Restated 2007 Equity Incentive Plan, deferred restricted shares, grantor retained annuity trust ("GRAT"), Rule 16a-13, +1 more

5 terms

Amended and Restated 2007 Equity Incentive Plan financial

"Granted under the Amended and Restated 2007 Equity Incentive Plan, 10% of these deferred restricted shares"

deferred restricted shares financial

"10% of these deferred restricted shares, or 12,908 shares, will vest on July 1, 2027"

Deferred restricted shares are company shares granted to employees, executives, or service providers that cannot be sold or transferred immediately and only become owned outright after certain conditions are met, such as staying with the company for a set period or hitting performance targets. Think of them like a delayed paycheck in stock form: they align recipients’ interests with long-term company success but can dilute existing shareholders and affect future share supply and company valuation once they convert into freely tradable stock.

grantor retained annuity trust ("GRAT") financial

"Reflects certain transfers made between a grantor retained annuity trust ("GRAT") and the Reporting Person."

Rule 16a-13 regulatory

"Such transfers were exempt from reporting pursuant to Rule 16a-13 under the Securities Exchange Act of 1934"

change in control financial

"the shares may be delivered earlier upon a change in control of Blackstone."

A "change in control" occurs when the ownership or management of a company shifts significantly, such as through a merger, acquisition, or sale of a large part of its assets. This change can impact how the company is run and may influence its future direction. For investors, it matters because it can affect the company's stability, strategy, and value, often signaling potential changes in investment risk or opportunity.

Form 4 Insider Transactions: What Each Field Means →

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^*

Sawhney Vikrant

(Last) (First) (Middle)

C/O BLACKSTONE 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 Inc. [ BX ]

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

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

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
04/01/2026

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
Common Stock	04/01/2026		A(1)		129,077	A	$0	929,683(2)	D
Common Stock								17,600(2)	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. Granted under the Amended and Restated 2007 Equity Incentive Plan, 10% of these deferred restricted shares, or 12,908 shares, will vest on July 1, 2027; an additional 10%, or 12,908 shares, will on July 1, 2028; an additional 20%, or 25,815 shares, will vest on July 1, 2029; an additional 30%, or 38,723 shares, will vest on July 1, 2030; and the remaining 30%, or 38,723 shares, will vest on July 1, 2031. As these deferred restricted shares vest, the shares will be delivered to the Reporting Person, except that 1/4 of the vested shares will be held back and delivered on a future date pursuant to the terms of the Reporting Person's award agreement. Notwithstanding the foregoing, the shares may be delivered earlier upon a change in control of Blackstone.

2. Reflects certain transfers made between a grantor retained annuity trust ("GRAT") and the Reporting Person. Such transfers were exempt from reporting pursuant to Rule 16a-13 under the Securities Exchange Act of 1934, as amended.

3. Such Blackstone shares are held in a GRAT, for which the Reporting Person serves as investment trustee.

Remarks:

The Reporting Person disclaims beneficial ownership of the securities reported on this form except to the extent of his pecuniary interest.

	Victoria Portnoy as Attorney-In-Fact	04/03/2026
	** 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)

FAQ

What did Blackstone (BX) executive Vikrant Sawhney report in this Form 4?

Vikrant Sawhney reported receiving 129,077 deferred restricted shares of Blackstone common stock as a compensation grant. The shares were awarded at $0.00 per share under the company’s equity incentive plan, increasing his directly held position disclosed in this filing.

How do Vikrant Sawhney’s new Blackstone (BX) restricted shares vest?

The 129,077 deferred restricted shares vest in stages from 2027 to 2031. Tranches vest on July 1 of each year, with 10% in 2027 and 2028, 20% in 2029, and 30% in both 2030 and 2031, according to the award’s vesting schedule.

How many Blackstone (BX) shares does Vikrant Sawhney hold after this grant?

After the grant, Vikrant Sawhney holds 929,683 Blackstone common shares directly. In addition, 17,600 Blackstone shares are held indirectly in a grantor retained annuity trust, where he serves as investment trustee, as disclosed in the filing’s ownership details.

Were Vikrant Sawhney’s new Blackstone (BX) shares bought on the open market?

No, the 129,077 Blackstone shares were granted as deferred restricted shares at $0.00 per share. They were awarded under Blackstone’s Amended and Restated 2007 Equity Incentive Plan as compensation, not acquired through an open-market purchase or sale transaction.

What happens to Vikrant Sawhney’s Blackstone (BX) restricted shares when they vest?

As the deferred restricted shares vest, they will generally be delivered to Vikrant Sawhney. However, one quarter of each vested tranche will be held back and delivered on a future date under his award agreement, with possible earlier delivery upon a change in control.

What is the role of the GRAT mentioned in Vikrant Sawhney’s Blackstone (BX) filing?

The filing notes that 17,600 Blackstone shares are held in a grantor retained annuity trust, for which Vikrant Sawhney serves as investment trustee. Certain transfers between the GRAT and him were exempt from reporting under Rule 16a-13 of the Securities Exchange Act.