Former Google CFO Ruth Porat Expands Stake in Blackstone Through Board Compensation

Rhea-AI Filing Summary

Ruth Porat, Director at Blackstone, reported significant insider transactions on Form 4. On June 25, 2025, Porat was granted 1,464 deferred restricted shares under the Amended and Restated 2007 Equity Incentive Plan. These shares will vest and be delivered on June 25, 2026, contingent on Porat's continued service on Blackstone's board of directors.

Following the transaction, Porat's holdings include:

• 38,530.577 shares held directly
• 8,632.674 shares held indirectly through a family limited partnership where she serves as general partner

The granted shares were acquired at $0 cost, representing standard board compensation. A power of attorney was executed by Victoria Portnoy on behalf of the reporting person.

Insider Trade Summary

2 transactions reported

Mixed 2 txns

Insider Porat Ruth

Role Director

Type	Security	Shares	Price	Value
Grant/Award	Common Stock	1,464	$0.00	--
holding	Common Stock	--	--	--

Holdings After Transaction: Common Stock — 38,530.577 shares (Direct); Common Stock — 8,632.674 shares (Indirect, See footnote)

Footnotes (1)

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 June 25, 2026 subject to the Reporting Person's continued service on the board of directors of Blackstone Inc. These securities are held by a family limited partnership, of which the Reporting Person is a general partner.

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^*

Porat Ruth

(Last) (First) (Middle)

C/O BLACKSTONE INC.

345 PARK AVENUE

(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)
06/25/2025

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	06/25/2025		A(1)		1,464	A	$0	38,530.577	D
Common Stock								8,632.674	I	See footnote(2)

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 June 25, 2026 subject to the Reporting Person's continued service on the board of directors of Blackstone Inc.

2. These securities are held by a family limited partnership, of which the Reporting Person is a general partner.

Remarks:

The Reporting Person disclaims beneficial ownership of the securities reported on this form as indirectly beneficially owned except to the extent of her pecuniary interest. Exhibit 24 - Power of Attorney

	Victoria Portnoy as Attorney-In-Fact	06/26/2025
	** 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

How many Blackstone (BX) shares did Ruth Porat acquire on June 25, 2025?

Ruth Porat acquired 1,464 deferred restricted shares of Blackstone (BX) common stock on June 25, 2025, granted under the Amended and Restated 2007 Equity Incentive Plan.

When will Ruth Porat's newly acquired BX shares vest?

The deferred restricted shares will vest and the underlying shares will be delivered on June 25, 2026, subject to Porat's continued service on Blackstone's board of directors.

What is Ruth Porat's total direct ownership of BX stock after the June 2025 grant?

Following the transaction, Ruth Porat directly owns 38,530.577 shares of Blackstone (BX) common stock.

How many indirect BX shares does Ruth Porat own through her family partnership?

Ruth Porat indirectly owns 8,632.674 shares of Blackstone (BX) through a family limited partnership, where she serves as a general partner.

What was the purchase price for Ruth Porat's new BX shares in June 2025?

The deferred restricted shares were granted at $0 cost to Ruth Porat as part of her compensation as a director of Blackstone Inc.