[Form 4] BLACKSTONE MORTGAGE TRUST, INC. Insider Trading Activity

Blackstone Mortgage Trust (BXMT) reported a director Form 4 showing an award of 4,253 shares of Restricted Class A Common Stock.

Rhea-AI Filing Summary

Blackstone Mortgage Trust (BXMT) reported a director Form 4 showing an award of 4,253 shares of Restricted Class A Common Stock. The award represents $78,137 in prorated retainer and meeting fees for service from October 22, 2025 through the Company’s 2026 annual meeting, calculated using the $18.37 closing price on October 22, 2025.

The award vests in full on the date of the Company’s 2026 annual meeting, subject to the director’s continued service. Following the reported transaction, the director beneficially owns 4,253 shares directly.

Insider Trade Summary

Grant/Award: 4,253 shares

Grant/Award 1 txn

Insider Hsu Chen Yi

Role Director

Type	Security	Shares	Price	Value
Grant/Award	Class A Common Stock	4,253	$18.37	$78K

Holdings After Transaction: Class A Common Stock — 4,253 shares (Direct)

Footnotes (1)

1. F1. Represents an award of Restricted Class A Common Stock in lieu of retainer and meeting fees. The number of shares of Restricted Class A Common Stock subject to the award was calculated by dividing $78,137 in prorated retainer and meeting fees for the director's service for the period from October 22, 2025 through the date of the Company's 2026 annual meeting, by the closing price for October 22, 2025. The award vests in full on the date of the Company's 2026 annual meeting, subject to the director's continued services as of the date of the 2026 annual meeting.

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Accepted by SEC EDGAR 10/24/2025 - 05:28 PM Learn about SEC filing dates

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^*

Hsu Chen Yi

(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)

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

3. Date of Earliest Transaction (Month/Day/Year)
10/22/2025

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	10/22/2025		A		4,253(1)	A	$18.37	4,253	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 an award of Restricted Class A Common Stock in lieu of retainer and meeting fees. The number of shares of Restricted Class A Common Stock subject to the award was calculated by dividing $78,137 in prorated retainer and meeting fees for the director's service for the period from October 22, 2025 through the date of the Company's 2026 annual meeting, by the closing price for October 22, 2025. The award vests in full on the date of the Company's 2026 annual meeting, subject to the director's continued services as of the date of the 2026 annual meeting.

Remarks:

	/s/ Anthony F. Marone, Jr., Attorney-In-Fact	10/24/2025
	** 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.