Form 4: Blackstone Inc. President & COO Jonathan Gray Acquires Shares Under Equity Incentive Plan

Jonathan Gray, President & COO of Blackstone Inc., acquired 197,896 shares of common stock on April 1, 2024, under the company's Amended and Restated 2007 Equity Incentive Plan.

Summary

• On April 1, 2024, Jonathan Gray, the President & COO of Blackstone Inc., acquired 197,896 shares of Blackstone's common stock.
• The acquisition was made under the Amended and Restated 2007 Equity Incentive Plan.
• The price per share was $0.00.
• Following the transaction, Gray directly owns 3,081,117 shares of Blackstone's common stock.
• The acquired shares are deferred restricted shares that will vest in installments from July 1, 2025, to July 1, 2029.
• 10% of the shares will vest on July 1, 2025, another 10% on July 1, 2026, 20% on July 1, 2027, 30% on July 1, 2028, and the remaining 30% on July 1, 2029.
• As the shares vest, they will be delivered to Gray, with 1/4 of the vested shares held back and delivered on a future date per the award agreement.
• The shares may be delivered earlier upon a change in control of Blackstone.

Sentiment

Score: 7

Explanation: The document reflects a standard executive compensation practice, which is generally viewed neutrally to positively as it incentivizes management. The sentiment is slightly positive due to the alignment of executive and shareholder interests.

Positives

• The acquisition of shares by a key executive like the President & COO can be seen as a positive sign, indicating confidence in the company's future performance.
• The vesting schedule incentivizes long-term commitment from the executive.

Future Outlook

The vesting schedule of the restricted shares suggests a long-term incentive plan for the executive, aligning their interests with the company's long-term performance.

Industry Context

Equity grants are a common practice in the financial industry to incentivize and retain key executives. The vesting schedule is typical for such grants, aligning executive compensation with long-term company performance.

Comparison to Industry Standards

• Blackstone's equity incentive plan is similar to those of other major asset management firms like Apollo Global Management, KKR, and The Carlyle Group, which also use equity grants with vesting schedules to align executive compensation with long-term shareholder value.
• These plans typically involve vesting periods of 3-5 years, similar to Blackstone's, and often include performance-based vesting conditions.

Stakeholder Impact

• The equity grant aligns the executive's interests with those of the shareholders, potentially leading to better long-term performance.
• Employees may view the grant positively as it signals confidence in the company's future.

Key Dates