Blackstone (BX) President & COO Jonathan Gray granted 302,662 deferred shares

Rhea-AI Filing Summary

GRAY JONATHAN reported acquisition or exercise transactions in this Form 4 filing.

Blackstone Inc. President & COO Jonathan Gray received a grant of 302,662 shares of Common Stock as a deferred restricted share award under the Amended and Restated 2007 Equity Incentive Plan. This is compensation-related, not an open-market purchase, and increases his direct holdings to 3,678,417 shares.

The award vests over several years: 10% (30,266 shares) on July 1, 2027; 10% (30,266 shares) on July 1, 2028; 20% (60,532 shares) on July 1, 2029; 30% (90,799 shares) on July 1, 2030; and 30% (90,799 shares) on July 1, 2031. As portions vest, shares are delivered to Gray, though one-quarter of each vested tranche is held back for later delivery under his award agreement, with potential earlier delivery upon a change in control of Blackstone.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider GRAY JONATHAN

Role President & COO

Type	Security	Shares	Price	Value
Grant/Award	Common Stock	302,662	$0.00	--

Holdings After Transaction: Common Stock — 3,678,417 shares (Direct)

Footnotes (1)

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Key Figures

Equity award size: 302,662 shares Post-transaction holdings: 3,678,417 shares 2027 vesting tranche: 30,266 shares +5 more

8 metrics

Equity award size 302,662 shares Deferred restricted share grant to Jonathan Gray

Post-transaction holdings 3,678,417 shares Common Stock directly held after the grant

2027 vesting tranche 30,266 shares Vesting on July 1, 2027

2028 vesting tranche 30,266 shares Vesting on July 1, 2028

2029 vesting tranche 60,532 shares Vesting on July 1, 2029

2030 vesting tranche 90,799 shares Vesting on July 1, 2030

2031 vesting tranche 90,799 shares Vesting on July 1, 2031

Grant price per share $0.00 per share Equity compensation grant, not market purchase

Key Terms

deferred restricted shares, Amended and Restated 2007 Equity Incentive Plan, vest, change in control, +1 more

5 terms

deferred restricted shares financial

"10% of these deferred restricted shares, or 30,266 shares, will vest"

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.

Amended and Restated 2007 Equity Incentive Plan financial

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

vest financial

"30,266 shares, will vest on July 1, 2027; an additional 10%"

A vest is the process by which an employee earns the right to receive certain benefits or ownership interests, such as stock or retirement funds, over time. It’s similar to earning a reward gradually, ensuring that the benefit becomes fully yours only after a set period or meeting specific conditions. This makes it important for investors because it determines when they can actually claim or use those benefits.

change in control financial

"Notwithstanding the foregoing, 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.

award agreement financial

"held back and delivered on a future date pursuant to the terms of the Reporting Person's award agreement."

An award agreement is a legal contract that spells out the terms of a pay or equity grant—such as stock options, restricted shares, or cash bonuses—given to an employee, director or consultant. It describes what is being granted, any conditions for keeping it (for example, earning it over time or meeting performance targets), and what happens if the person leaves or breaks rules. Investors care because these agreements affect company costs, potential share dilution and how executives are motivated and rewarded.

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^*

GRAY JONATHAN

(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)

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

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)		302,662	A	$0	3,678,417	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, 10% of these deferred restricted shares, or 30,266 shares, will vest on July 1, 2027; an additional 10%, or 30,266 shares, will vest on July 1, 2028; an additional 20%, or 60,532 shares, will vest on July 1, 2029; an additional 30%, or 90,799 shares, will vest on July 1, 2030; and the remaining 30%, or 90,799 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.

	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 Jonathan Gray report in this Form 4 filing?

Jonathan Gray reported receiving a grant of 302,662 deferred restricted shares of Blackstone Common Stock as equity compensation. The award is under the Amended and Restated 2007 Equity Incentive Plan and increases his direct holdings to 3,678,417 shares after the grant.

Is Jonathan Gray’s latest Blackstone (BX) share transaction a purchase or a compensation grant?

The transaction is a compensation grant, not an open-market purchase. Gray received 302,662 deferred restricted shares at a price of $0.00 per share, reflecting an equity award classified as a grant, award, or other acquisition rather than a market buy order.

How do Jonathan Gray’s 302,662 deferred restricted shares in Blackstone (BX) vest over time?

The 302,662 deferred restricted shares vest in stages: 30,266 shares on July 1, 2027, 30,266 on July 1, 2028, 60,532 on July 1, 2029, 90,799 on July 1, 2030, and 90,799 on July 1, 2031, forming a multi-year vesting schedule.

What happens to Jonathan Gray’s Blackstone (BX) restricted shares as they vest?

As the deferred restricted shares vest, they are generally delivered to Jonathan Gray. However, one-quarter of each vested tranche is held back and scheduled for delivery on a future date, following the specific timing terms in his award agreement.

How many Blackstone (BX) shares does Jonathan Gray hold after this equity grant?

Following the award of 302,662 deferred restricted shares, Jonathan Gray’s direct holdings in Blackstone Common Stock total 3,678,417 shares. This figure includes the newly granted shares and reflects his position after the reported Form 4 transaction.

Can Jonathan Gray’s Blackstone (BX) deferred restricted shares be delivered earlier than the vesting schedule?

Yes. While the deferred restricted shares follow a set vesting schedule through July 1, 2031, the award terms allow for earlier delivery of the shares upon a change in control of Blackstone, accelerating delivery relative to the normal timetable.