Form 4: Blackstone Inc. Chief Accounting Officer Receives Deferred Restricted Stock Grant

Blackstone's Chief Accounting Officer, David Payne, was granted 1,314 deferred restricted shares under the company's equity incentive plan.

Summary

• David Payne, the Chief Accounting Officer of Blackstone Inc., received a grant of 1,314 deferred restricted shares.
• These shares were granted under the Amended and Restated 2007 Equity Incentive Plan.
• The shares will vest ratably over a three-year period.
• 438 shares will vest on January 1, 2026, another 438 on January 1, 2027, and the final 438 on January 1, 2028.
• Vesting is contingent upon Mr. Payne's continued employment with Blackstone.
• The underlying shares will be delivered to Mr. Payne as the deferred restricted shares vest.
• The shares may be delivered earlier in the event of a change in control of Blackstone.

Sentiment

Score: 7

Explanation: The document reflects a standard executive compensation practice, which is generally viewed positively as it aligns management interests with shareholders. There are no negative implications.

Positives

• The grant of deferred restricted shares aligns the executive's interests with the long-term performance of the company.
• The vesting schedule encourages continued employment and commitment from the Chief Accounting Officer.

Risks

• The vesting of the shares is contingent on continued employment, which could be a risk if the executive leaves the company before full vesting.

Future Outlook

The document outlines the vesting schedule for the granted shares, indicating a future delivery of shares to the executive upon vesting.

Industry Context

The granting of deferred restricted stock is a common practice in the financial industry to incentivize and retain key executives.

Comparison to Industry Standards

• The use of deferred restricted stock is a standard practice among large financial firms like Blackstone, similar to compensation structures at companies such as KKR, Apollo Global Management, and The Carlyle Group.
• These firms often use equity-based compensation to align executive interests with shareholder value creation and long-term company performance.
• The three-year vesting schedule is also typical, ensuring executives remain committed to the company over a reasonable period.

Stakeholder Impact

• Shareholders may view this as a positive sign of aligning management interests with long-term company performance.
• Employees may see this as a standard practice for executive compensation.

Key Dates

Keywords

Blackstone, deferred restricted shares, equity incentive plan, executive compensation, vesting, Chief Accounting Officer, David Payne