Blackstone Mortgage Trust (BXMT) CFO discloses stock grant and share sale

Rhea-AI Filing Summary

Blackstone Mortgage Trust, Inc.'s chief financial officer reported two recent transactions in the company’s Class A common stock. On December 15, 2025, the officer received 14,448 shares of restricted Class A common stock at a price of $0, granted under the company’s stock incentive plan.

On December 17, 2025, the officer sold 1,012 shares at a weighted average price of $20.3125 per share, with the sales made under Rule 10b5-1 trading plans adopted on March 12, 2024 and March 6, 2025 to cover tax withholding obligations tied to previously granted restricted stock awards. After these transactions, the officer directly owns 75,500 shares of Class A common stock.

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).

X

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^*

Marone Anthony F. JR

(Last) (First) (Middle)

C/O BLACKSTONE MORTGAGE TRUST

345 PARK AVENUE

(Street)

NEW YORK NY 10154

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
BLACKSTONE MORTGAGE TRUST, INC. [ BXMT ]

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

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

3. Date of Earliest Transaction (Month/Day/Year)
12/15/2025

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
Class A Common Stock	12/15/2025		A		14,448(1)	A	$0	76,512	D
Class A Common Stock	12/17/2025		S		1,012(2)	D	$20.3125(3)	75,500	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. Represents shares of restricted class A common stock of the Issuer granted pursuant to the Issuer's Stock Incentive Plan.

2. The sales reported in this Form 4 were effected pursuant to Rule 10b5-1 trading plans adopted on March 12, 2024 and March 6, 2025 to satisfy certain tax withholding related obligations in connection with the vesting of previously granted restricted stock awards.

3. The price reported in Column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $20.310 to $20.315, inclusive. The Reporting Person undertakes to provide, upon request by the Securities and Exchange Commission staff, the issuer or a security holder of the issuer, full information regarding the number of shares purchased at each separate price for all transactions reported on this Form 4.

Remarks:

	/s/ Anthony F. Marone, Jr.	12/17/2025
	** 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 insider stock transactions did BXMT disclose for its CFO?

The chief financial officer of Blackstone Mortgage Trust, Inc. (BXMT) reported receiving 14,448 restricted Class A common shares on December 15, 2025, and selling 1,012 shares on December 17, 2025.

How many BXMT shares did the CFO receive as restricted stock?

The CFO received 14,448 shares of restricted Class A common stock, granted pursuant to Blackstone Mortgage Trust’s Stock Incentive Plan, at a price of $0 per share.

At what price were the BXMT shares sold by the CFO on December 17, 2025?

The 1,012 BXMT shares sold on December 17, 2025 were disposed of at a weighted average price of $20.3125 per share, based on multiple transactions between $20.310 and $20.315.

How many BXMT shares does the CFO own after these transactions?

Following the reported grant and sale, the chief financial officer directly owns 75,500 shares of Blackstone Mortgage Trust Class A common stock.

Why were some BXMT shares sold under Rule 10b5-1 trading plans?

The filing states that the sales reported were effected under Rule 10b5-1 trading plans adopted on March 12, 2024 and March 6, 2025 to satisfy certain tax withholding obligations related to the vesting of previously granted restricted stock awards.

What role does the reporting person hold at Blackstone Mortgage Trust (BXMT)?

The reporting person is an officer of Blackstone Mortgage Trust, Inc., serving as the company’s Chief Financial Officer, and reports direct ownership of the shares listed.