Form 4: Blackstone Mortgage Trust CEO Sells Shares for Tax Obligations Under Pre-Arranged Plan

Katharine A. Keenan, CEO and President of Blackstone Mortgage Trust, Inc. (BXMT), sold 2,327 shares of Class A Common Stock at $18.915 per share to cover tax withholding obligations as part of a pre-arranged Rule 10b5-1 trading plan.

Summary

• Katharine A. Keenan, who serves as a Director, CEO, and President of BLACKSTONE MORTGAGE TRUST, INC. (BXMT), reported a transaction.
• On May 30, 2025, Ms. Keenan disposed of 2,327 shares of Class A Common Stock.
• The shares were sold at a price of $18.915 per share.
• Following this transaction, Ms. Keenan beneficially owns 243,845 shares of Class A Common Stock.
• The sale was executed pursuant to a Rule 10b5-1 trading plan, which was adopted on August 8, 2024.
• The purpose of the sale was to satisfy certain tax withholding related obligations in connection with the vesting of previously granted restricted stock awards.

Sentiment

Score: 5

Explanation: The transaction is a routine, pre-planned sale for tax purposes, which is generally considered neutral in terms of company sentiment. It does not reflect a discretionary decision based on positive or negative views of the company's prospects.

Positives

• The transaction was conducted under a Rule 10b5-1 trading plan, indicating it was pre-scheduled and not a discretionary sale based on new, negative information about the company.
• The sale was for tax withholding obligations, which is a common and routine reason for insider stock sales.

Negatives

• The sale represents a reduction in direct beneficial ownership by a key executive, though the reason is non-discretionary.

Future Outlook

This Form 4 filing does not contain any forward-looking statements or guidance regarding the company's future outlook.

Management Comments

• "The sales reported in this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted on August 8, 2024 to satisfy certain tax withholding related obligations in connection with the vesting of previously granted restricted stock awards."

Industry Context

This Form 4 filing details an individual insider transaction and does not provide broader industry context or trends within the real estate finance sector.

Stakeholder Impact

• Shareholders: Provides transparency regarding insider stock holdings and transactions, confirming a pre-planned sale for tax purposes rather than a signal of management's outlook.

Key Dates

Keywords

Blackstone Mortgage Trust, BXMT, Katharine A. Keenan, Insider Trading, Form 4, Stock Sale, Tax Withholding, Rule 10b5-1, CEO, President, Real Estate Finance