Form 4: Blackstone Mortgage Trust Director Gilda Perez-Alvarado Acquires Shares in Lieu of Fees

Director Gilda Perez-Alvarado acquired 6,378 shares of Blackstone Mortgage Trust Class A Common Stock on June 21, 2024, in lieu of retainer and meeting fees.

Summary

• On June 21, 2024, Gilda Perez-Alvarado, a director of Blackstone Mortgage Trust, acquired 6,378 shares of Class A Common Stock.
• The acquisition was in lieu of $115,000 in retainer and meeting fees.
• The price per share was $18.03.
• Following the transaction, Perez-Alvarado directly owns 14,079 shares of Blackstone Mortgage Trust.
• The restricted stock vests fully on the date of the company's 2025 annual meeting, contingent upon continued service as a director.

Sentiment

Score: 7

Explanation: The sentiment is neutral to slightly positive. A director accepting stock in lieu of fees suggests confidence in the company's future, but it's a routine transaction.

Positives

• Director's acquisition of shares demonstrates confidence in the company.
• The use of stock in lieu of cash preserves company cash flow.

Future Outlook

The restricted stock vests in full on the date of the Company's 2025 annual meeting, subject to the director's continued services as of that date.

Industry Context

Insider transactions are closely monitored as indicators of management's confidence in the company's prospects. This transaction reflects a director's alignment with shareholder interests.

Comparison to Industry Standards

• Comparing Blackstone Mortgage Trust to peers like Starwood Property Trust (STWD) and Annaly Capital Management (NLY), director share acquisitions are a common form of compensation and alignment.
• The amount of stock awarded in lieu of fees is within the typical range for director compensation among similar REITs.

Related Party Transactions

• The award of restricted stock to Gilda Perez-Alvarado, a director, is a related party transaction.

Stakeholder Impact

• Shareholders may view the director's stock acquisition positively, as it aligns her interests with theirs.
• The company benefits from preserving cash by issuing stock instead of paying cash fees.

Key Dates