Blackstone Mortgage Trust Insider Sale: CFO Disposes 1,006 Shares

Rhea-AI Filing Summary

Anthony F. Marone Jr., Chief Financial Officer of Blackstone Mortgage Trust (BXMT), sold 1,006 shares of Class A common stock on 09/17/2025 at a weighted average price of $19.4834 per share under Rule 10b5-1 trading plans. The sales were made to satisfy tax withholding obligations tied to the vesting of previously granted restricted stock awards. After the reported disposition, Mr. Marone beneficially owned 62,570 shares, held directly. The filing notes the shares were sold in multiple transactions at prices ranging from $19.4810 to $19.4850 and that the reporting person will provide a breakdown of shares sold at each price upon request.

Insights

Securities Analyst

Insider sale appears routine and executed under pre-established 10b5-1 plans to meet tax obligations.

The disclosed 1,006-share disposition by the CFO is small relative to institutional holdings and was executed under Rule 10b5-1 plans adopted March 12, 2024 and March 6, 2025, which reduces signaling risk. The filing provides the weighted average sale price $19.4834 and a range $19.4810–$19.4850, and confirms 62,570 shares remain beneficially owned. From a market-impact perspective this is immaterial; from governance and compliance perspectives it demonstrates use of a defensive trading plan to avoid opportunistic timing.

Corporate Governance Expert

Disclosure is clear and consistent with standard practice for withholding-related insider sales.

The Form 4 explains the transactions were to satisfy tax withholding triggered by restricted stock vesting and cites the specific 10b5-1 plan adoption dates. The reporting person offers to provide per-price sale breakdowns on request, which adds transparency. There is no indication of policy deviation or undisclosed derivative activity. The item is procedural rather than material to BXMT's operating or financial outlook.

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).

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)
09/17/2025

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	09/17/2025		S		1,006(1)	D	$19.4834(2)	62,570	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. 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.

2. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $19.4810 to $19.4850, 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 sold at each separate price for all transactions reported on this Form 4

Remarks:

	/s/ Anthony F. Marone, Jr.	09/18/2025
	** 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 transaction did BXMT CFO Anthony Marone report on Form 4?

The CFO reported a sale of 1,006 Class A shares on 09/17/2025 under a Rule 10b5-1 plan.

Why were the shares sold by the reporting person in the BXMT Form 4?

The sales were executed to satisfy tax withholding obligations related to the vesting of previously granted restricted stock awards.

At what price were the BXMT shares sold according to the Form 4?

The weighted average price reported was $19.4834 per share; individual sale prices ranged from $19.4810 to $19.4850.

How many BXMT shares does Anthony Marone beneficially own after the reported transaction?

Following the reported sale, the Form 4 lists 62,570 shares beneficially owned by the reporting person.

Were the sales executed under a pre-established trading plan in the BXMT Form 4?

Yes, the sales were effected pursuant to Rule 10b5-1 trading plans adopted on March 12, 2024 and March 6, 2025.