Form 4: Blackstone Inc. President & COO Jonathan Gray Reports Acquisition of Common Stock

Jonathan Gray, President & COO of Blackstone Inc., reported the acquisition of 41,801 shares of common stock on January 10, 2025, through deferred restricted shares granted under the company's equity incentive plan.

Summary

• On January 10, 2025, Jonathan Gray, the President & COO of Blackstone Inc., acquired 41,801 shares of Blackstone's common stock.
• These shares were granted under the Amended and Restated 2007 Equity Incentive Plan as deferred restricted shares.
• The deferred restricted shares will vest ratably over a three-year period.
• Specifically, 13,934 shares will vest on January 1, 2026, 13,933 shares on January 1, 2027, and 13,934 shares on January 1, 2028.
• Vesting is contingent upon Mr. Gray's continued employment with Blackstone.
• As the deferred restricted shares vest, the underlying shares will be delivered to Mr. Gray.
• The shares may be delivered earlier upon a change in control of Blackstone.
• Following the transaction, Mr. Gray beneficially owns 3,122,918 shares of Blackstone's common stock.

Sentiment

Score: 7

Explanation: The sentiment is neutral to slightly positive. It reflects a standard executive compensation practice, aligning management interests with shareholders through equity ownership. There are no overtly negative implications.

Positives

• The grant of restricted shares aligns the executive's interests with those of the shareholders.
• The vesting schedule incentivizes continued employment and commitment to the company's long-term success.

Risks

• The vesting of the shares is contingent upon continued employment, creating a potential risk if Mr. Gray were to leave the company before the vesting dates.

Future Outlook

The document outlines the vesting schedule for the deferred restricted shares, indicating the future delivery of shares to the reporting person contingent upon continued employment.

Industry Context

Form 4 filings are standard practice for reporting changes in beneficial ownership by company insiders, providing transparency to the market regarding executive compensation and stock ownership.

Comparison to Industry Standards

• Equity incentive plans are a common practice among publicly traded companies like Blackstone to align executive compensation with shareholder value.
• The vesting schedule of three years is a typical timeframe for restricted stock grants, similar to those offered by competitors such as KKR and Apollo Global Management.
• The potential for accelerated vesting upon a change in control is also a standard provision in many executive compensation packages.

Stakeholder Impact

• Shareholders may view the grant of restricted stock positively, as it aligns executive compensation with company performance.
• Employees may see this as a positive sign of the company's commitment to its leadership.

Key Dates