Director at Blackstone Mortgage (NYSE: BXMT) gains 1,523 units via dividends

Rhea-AI Filing Summary

BLACKSTONE MORTGAGE TRUST, INC. director Leonard W. Cotton reported an acquisition of 1,523 shares of Class A Common Stock on a grant/award basis at $20.12 per share. These represent Class A Common Stock Units received in lieu of cash dividends and convert into common shares on a one-for-one basis.

Following this award and prior dividend-related activity, he holds 90,293 shares directly, including 89 shares previously acquired through participation in a dividend reinvestment plan. The transaction reflects compensation and dividend reinvestment rather than an open-market purchase.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider Cotton Leonard W

Role Director

Type	Security	Shares	Price	Value
Grant/Award	Class A Common Stock	1,523	$20.12	$31K

Holdings After Transaction: Class A Common Stock — 90,293 shares (Direct)

Footnotes (1)

1. Represents Class A Common Stock Units in lieu of dividends payable on Class A Common Stock Units owned by the Reporting Person, which convert to shares of Class A Common Stock on a one-for-one basis. The number of Class A Common Stock Units was calculated by dividing (1) the product of the number of Class A Common Stock Units owned by the Reporting Person and the $0.47 per share dollar amount of the Class A Common Stock dividend paid by the Company on April 15, 2026 by (2) the closing price of the Company's Class A Common Stock on April 15, 2026. Includes 89 shares acquired since the reporting person's last filing as a result of participation in a dividend reinvestment plan.

Key Figures

Shares granted: 1,523 shares Grant reference price: $20.12 per share Dividend amount: $0.47 per share +2 more

5 metrics

Shares granted 1,523 shares Class A Common Stock Units in lieu of dividends on Apr. 15, 2026

Grant reference price $20.12 per share Price per share used for the Class A Common Stock grant/award

Dividend amount $0.47 per share Class A Common Stock dividend paid on Apr. 15, 2026

Shares after transaction 90,293 shares Total direct BXMT holdings following the reported acquisition

DRIP shares 89 shares Acquired since last filing through a dividend reinvestment plan

Key Terms

Class A Common Stock Units, dividend reinvestment plan, one-for-one basis, grant, award, or other acquisition

4 terms

Class A Common Stock Units financial

"Represents Class A Common Stock Units in lieu of dividends payable on Class A Common Stock Units owned by the Reporting Person"

dividend reinvestment plan financial

"Includes 89 shares acquired since the reporting person's last filing as a result of participation in a dividend reinvestment plan."

A dividend reinvestment plan lets shareholders automatically use cash dividends to buy more shares of the same company instead of receiving the money. It matters to investors because it turns regular payouts into a steady way to grow ownership and take advantage of compound returns—like having your savings automatically buy additional slices of a pie over time—while often reducing transaction costs and smoothing purchase timing.

one-for-one basis financial

"which convert to shares of Class A Common Stock on a one-for-one basis."

grant, award, or other acquisition financial

"transaction_code_description: Grant, award, or other acquisition"

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^*

Cotton Leonard W

(Last) (First) (Middle)

153 NICHOLAS CARTERET CIRCLE

(Street)

JOHNS ISLAND SOUTH CAROLINA 29455

(City) (State) (Zip)

UNITED STATES

(Country)

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

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

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

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
04/15/2026

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
Class A Common Stock	04/15/2026		A		1,523(1)	A	$20.12	90,293(2)	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 Class A Common Stock Units in lieu of dividends payable on Class A Common Stock Units owned by the Reporting Person, which convert to shares of Class A Common Stock on a one-for-one basis. The number of Class A Common Stock Units was calculated by dividing (1) the product of the number of Class A Common Stock Units owned by the Reporting Person and the $0.47 per share dollar amount of the Class A Common Stock dividend paid by the Company on April 15, 2026 by (2) the closing price of the Company's Class A Common Stock on April 15, 2026.

2. Includes 89 shares acquired since the reporting person's last filing as a result of participation in a dividend reinvestment plan.

Remarks:

	/s/ Marcin Urbaszek, Attorney-In-Fact	04/16/2026
	** 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 Leonard W. Cotton acquire in this BXMT Form 4 filing?

Leonard W. Cotton acquired 1,523 shares of BXMT Class A Common Stock through a grant/award. The shares represent Class A Common Stock Units received instead of cash dividends and convert into common shares on a one-for-one basis for the reporting person.

Was the BXMT transaction by Leonard W. Cotton an open-market stock purchase?

No, the BXMT transaction was not an open-market purchase. It reflects a grant/award acquisition of 1,523 Class A Common Stock Units received in lieu of dividends, rather than shares bought on the open market at the reported price of $20.12 per share.

How were the 1,523 BXMT Class A Common Stock Units calculated for Leonard W. Cotton?

The 1,523 units were calculated by multiplying Cotton’s existing Class A Common Stock Units by the $0.47 per-share dividend, then dividing that dollar amount by the closing Class A Common Stock price on April 15, 2026, as described in the filing footnote.

How many BXMT shares does Leonard W. Cotton hold after this Form 4 transaction?

After this transaction, Leonard W. Cotton holds 90,293 BXMT shares directly. This total includes 89 shares acquired since his last filing through participation in a dividend reinvestment plan, in addition to the new dividend-equivalent share units reported.

What is the role of the dividend reinvestment plan in Leonard W. Cotton’s BXMT holdings?

The dividend reinvestment plan increased Cotton’s BXMT holdings by 89 shares since his last filing. Instead of taking cash dividends, he reinvested them into additional shares, which contributed to his total post-transaction direct ownership of 90,293 shares of Class A Common Stock.