Form 4: Blackstone CFO Michael Chae Reports Changes in Beneficial Ownership
SEC Form 4 Filing
Michael Chae, CFO & Vice Chairman of Blackstone Inc., reports the acquisition and disposal of common stock, along with details of deferred restricted shares granted under the company's equity incentive plan.
Summary
- Michael Chae, CFO & Vice Chairman of Blackstone Inc., filed a Form 4 detailing changes in his beneficial ownership of the company's stock.
- On April 1, 2025, Chae acquired 100,811 shares of common stock.
- On the same day, Chae disposed of 974,494 shares of common stock.
- These shares were granted under the Amended and Restated 2007 Equity Incentive Plan as deferred restricted shares.
- The shares will vest in installments from July 1, 2026, through July 1, 2030.
- A portion of the vested shares will be held back and delivered on a future date according to the award agreement.
- The filing also includes a Power of Attorney, granting certain individuals the authority to execute Forms 3, 4, and 5 on Chae's behalf.
Sentiment
Score: 7
Explanation: The sentiment is neutral to slightly positive. It reflects standard executive compensation practices and regulatory compliance. The vesting schedule suggests a long-term commitment from the executive.
Positives
- The granting of deferred restricted shares aligns executive compensation with long-term company performance.
Future Outlook
The vesting schedule of the deferred restricted shares indicates a long-term incentive plan for the executive, aligning their interests with the company's future performance.
Industry Context
Form 4 filings are a standard part of regulatory compliance for company insiders, providing transparency into their transactions and holdings. This filing is typical for executives receiving equity-based compensation.
Comparison to Industry Standards
- Blackstone's equity incentive plan is similar to those of other major financial institutions like KKR, Apollo Global Management, and The Carlyle Group, which use equity grants to align executive compensation with shareholder value.
- The vesting schedule is fairly standard, with gradual vesting over several years to incentivize long-term commitment.
Stakeholder Impact
- The equity incentive plan aligns the executive's interests with those of shareholders, potentially driving long-term value creation.
Key Dates
| Date | Description |
|---|---|
| 2025-02-27 | Date of Power of Attorney execution. |
| 2025-04-01 | Date of transaction (acquisition and disposal of shares). |
| 2026-07-01 | First vesting date for 10% of deferred restricted shares. |
| 2027-07-01 | Second vesting date for 10% of deferred restricted shares. |
| 2028-07-01 | Third vesting date for 20% of deferred restricted shares. |
| 2029-07-01 | Fourth vesting date for 30% of deferred restricted shares. |
| 2030-07-01 | Final vesting date for 30% of deferred restricted shares. |
Keywords
Form 4, beneficial ownership, Blackstone, Michael Chae, equity incentive plan, deferred restricted shares, power of attorney, vesting
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