BX Form 4: Director Reginald Brown receives 1,150 deferred restricted shares

Rhea-AI Filing Summary

Reginald J. Brown, a director of Blackstone Inc. (BX), received a grant of 1,150 deferred restricted common shares on September 15, 2025 under the Amended and Restated 2007 Equity Incentive Plan. The grant carries a $0 purchase price and will vest and result in delivery of the underlying shares on September 15, 2026, contingent on Mr. Browns continued service on Blackstones board.

Following this reported transaction, Mr. Brown beneficially owned 19,501 shares. The Form 4 was signed by Victoria Portnoy as attorney-in-fact on September 17, 2025 and includes an Exhibit 24 power of attorney.

Positive

• Director alignment: Grant of 1,150 deferred restricted shares aligns the reporting person's interests with shareholders.
• Retention feature: Vesting is tied to continued board service through September 15, 2026, supporting director retention.

Negative

• None.

Insights

Corporate Governance Expert

TL;DR: A routine director equity award aligning compensation with continued board service; not immediately dilutive.

The filing documents a director-level grant of 1,150 deferred restricted shares that vest in one year subject to continued board service. Such awards are common for non-employee directors to align interests with shareholders and retain board members. The award price is $0 and the shares are deferred until vesting, so there is no immediate cash transaction and the shares are not presently exercisable. Beneficial ownership after the grant is reported as 19,501 shares. This disclosure is procedural and typical for director compensation programs and does not by itself indicate material corporate change.

Compensation Analyst

TL;DR: One-year deferred share grant for a director; standard retention/alignments terms.

The transaction reflects a grant under the companys 2007 Equity Incentive Plan with vesting on September 15, 2026 contingent on continued service. Deferred restricted shares with a $0 price indicate a time-based equity award rather than a purchase or option. The quantum, 1,150 shares, should be evaluated relative to typical director grants at the firm but is reported here as part of normal governance disclosure. No derivative instruments or dispositions are reported.

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
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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^*

Brown Reginald J

(Last) (First) (Middle)

C/O BLACKSTONE INC.

345 PARK AVE

(Street)

NEW YORK NY 10154

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Blackstone Inc. [ BX ]

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

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

3. Date of Earliest Transaction (Month/Day/Year)
09/15/2025

4. If Amendment, Date of 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

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	09/15/2025		A(1)		1,150	A	$0	19,501	D

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, these deferred restricted shares will vest, and the underlying shares will be delivered, on September 15, 2026, subject to the Reporting Person's continued service on the board of directors of Blackstone Inc.

Remarks:

Exhibit 24 - Power of Attorney

	Victoria Portnoy as Attorney-In-Fact	09/17/2025
	** 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.

FAQ

What transaction was reported for Blackstone Inc. (BX)?

The Form 4 reports a grant of 1,150 deferred restricted common shares to director Reginald J. Brown on September 15, 2025.

When will the granted shares vest and be delivered?

The deferred restricted shares will vest and the underlying shares will be delivered on September 15, 2026, subject to continued board service.

What was the price of the grant reported on the Form 4?

The transaction lists a price of $0 for the granted deferred restricted shares.

How many shares does the reporting person own after the transaction?

Following the reported transaction, the reporting person beneficially owned 19,501 shares.

Who signed the Form 4 and is there an exhibit attached?

The form is signed by Victoria Portnoy as attorney-in-fact on September 17, 2025 and includes Exhibit 24 (Power of Attorney).