Form 4: Blackstone President Gray Receives 51,216 Share Grant

Blackstone Inc. President and COO Jonathan Gray was granted 51,216 deferred restricted shares of common stock, vesting over three years.

Summary

• Jonathan Gray, President & COO and a Director of Blackstone Inc. (BX), was granted 51,216 shares of Common Stock.
• The transaction occurred on January 12, 2026, with a transaction price of $0 per share, indicating a grant rather than a purchase.
• These deferred restricted shares were granted under the Amended and Restated 2007 Equity Incentive Plan.
• The shares will vest ratably over a three-year period, with 17,072 shares vesting on January 1, 2027, 17,072 shares on January 1, 2028, and 17,072 shares on January 1, 2029.
• Vesting is subject to Mr. Gray's continued employment with Blackstone.
• Following this transaction, Jonathan Gray beneficially owns 3,375,755 shares of Blackstone Inc. Common Stock.

Sentiment

Score: 7

Explanation: The grant of restricted shares to a key executive is generally viewed positively as it aligns management's long-term interests with those of shareholders and serves as a retention mechanism.

Positives

• The grant of deferred restricted shares aligns the long-term interests of President & COO Jonathan Gray with those of Blackstone's shareholders.
• This equity award serves as a retention mechanism for a key executive, ensuring continuity in leadership.

Negatives

• The shares are restricted and vest over a three-year period, meaning they are not immediately liquid for the reporting person.
• Vesting is contingent upon continued employment, posing a risk of forfeiture if employment ceases.

Risks

• The deferred restricted shares are subject to forfeiture if the reporting person's employment with Blackstone does not continue through the vesting dates.
• The value of the shares upon vesting is dependent on Blackstone's stock price at that future time, introducing market risk.

Future Outlook

The deferred restricted shares are scheduled to vest ratably over a three-year period, with the underlying shares to be delivered upon vesting, subject to continued employment. Shares may be delivered earlier upon a change in control of Blackstone.

Industry Context

The grant of deferred restricted shares to a top executive like Jonathan Gray is a standard practice in the financial services industry, particularly for large asset managers like Blackstone, to incentivize long-term performance and ensure executive retention.

Corporate Governance

Stakeholder Impact

• Shareholders: Aligns the interests of President & COO Jonathan Gray with long-term shareholder value through equity ownership, potentially fostering sustained company performance.
• Employees: Demonstrates commitment to retaining key executive talent within the company, which can contribute to stable leadership and strategic execution.

Next Steps

• Vesting of 17,072 shares on January 1, 2027, subject to continued employment.
• Vesting of 17,072 shares on January 1, 2028, subject to continued employment.
• Vesting of 17,072 shares on January 1, 2029, subject to continued employment.
• Delivery of underlying shares to Jonathan Gray as they vest.

Key Dates

Recommendation

This Form 4 reports a routine equity grant to a key executive, which is a standard compensation practice and does not alter the fundamental investment thesis for Blackstone Inc. The grant aligns management's interests with shareholders over the long term, but it is not a catalyst for a change in investment recommendation.

Keywords

Blackstone, BX, Jonathan Gray, Form 4, Stock Grant, Equity Incentive Plan, Executive Compensation, Restricted Shares, Insider Transaction