Form 4: Blackstone Director Gifts Units for Estate Planning

Blackstone Inc. Director Joseph Baratta reported gifting 41,290 partnership units for estate planning purposes, maintaining significant indirect beneficial ownership.

Summary

• Joseph Baratta, a Director of Blackstone Inc., reported a gift transaction of derivative securities.
• On February 11, 2026, 41,290 Blackstone Holdings Partnership Units were disposed of via a gift (Transaction Code 'G').
• The gift was made for estate planning purposes, transferring interests in a limited liability company (LLC) holding these units to a trust for the benefit of his family members.
• The Reporting Person and his spouse are trustees of the recipient trust.
• This transaction did not change the total number of Blackstone Holdings Partnership Units held by the limited liability company, which continues to hold 4,128,950 units.
• Following the transaction, Joseph Baratta indirectly beneficially owns 4,128,950 units through an LLC he manages and 142,237 units through another family trust, in addition to 2,223,058 units held directly.
• Blackstone Holdings Partnership Units are exchangeable for one share of Blackstone Inc. Common Stock, subject to certain minimum retained ownership requirements and transfer restrictions.

Sentiment

Score: 5

Explanation: StockSavvy.ai views this as a neutral event. The transaction is a personal estate planning gift by a director and does not indicate any change in the company's fundamentals or future prospects.

Future Outlook

N/A

Industry Context

StockSavvy.ai notes that insider transactions, particularly gifts for estate planning, are common and typically reflect personal financial management rather than a change in the company's operational outlook or a signal about its future performance. Such transactions are standard practice for high-net-worth individuals managing their assets.

Related Party Transactions

• The gift of interests in a limited liability company holding Blackstone Holdings Partnership Units to a trust for the benefit of the Reporting Person's family members constitutes a related party transaction, as the Reporting Person is a trustee of the recipient trust.

Stakeholder Impact

• Shareholders: Minimal direct impact as the transaction is a personal estate planning move by a director and does not affect the company's operational or financial performance. The director maintains significant beneficial ownership.
• Employees, Customers, Suppliers, Creditors: No discernible direct impact from this personal transaction.

Key Dates

Recommendation

The filing details a personal estate planning transaction by a director, which is a neutral event for the company's operational performance and stock valuation. It does not provide new information warranting a change in investment recommendation.

Keywords

Blackstone Inc., BX, Joseph Baratta, Form 4, Insider Transaction, Estate Planning, Partnership Units, Director, Beneficial Ownership, Gift