Blackstone Inc. — Director's Dealing 2012

Jul 27, 2012

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: Blackstone Group L.P. (BX)
CIK: 0001393818
Period of Report: 2009-12-29

Reporting Person: SKERO KATHLEEN (Principal Accounting Officer)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2009-12-29	Common units representing limited partner interests	A	22497	—	Acquired	22497	Direct
2011-01-01	Common units representing limited partner interests	A	17470	—	Acquired	39967	Direct
2012-01-01	Common units representing limited partner interests	A	20626	—	Acquired	60593	Direct
2012-07-01	Common units representing limited partner interests	A	32725	—	Acquired	93318	Direct

Footnotes

F1: Granted under the 2007 Equity Incentive Plan, 18,747 of these 22,497 deferred restricted common units vest ratably over a three-year period, of which 12,498 units have already vested and the remaining 6,249 will vest on January 1, 2013, subject to the Reporting Person's continued employment with Blackstone. Also granted under the 2007 Equity Incentive Plan, 3,750 of these deferred restricted common units will vest on the three-year anniversary of the January 1 following the grant date, which is January 1, 2013, subject to the Reporting Person's continued employment with Blackstone. As these deferred restricted common units vest, the underlying common units will be delivered to the Reporting Person. Notwithstanding the foregoing, the units may be delivered earlier upon a change in control of Blackstone.

F2: Granted under the 2007 Equity Incentive Plan, 14,588 of these 17,470 deferred restricted common units vest ratably over a three-year period, of which 4,853 units have already vested, 4,853 will vest on January 1, 2013, and 4,852 will vest on January 1, 2014, subject to the Reporting Person's continued employment with Blackstone. Also granted under the 2007 Equity Incentive Plan, 2,912 of these deferred restricted common units will vest on the three-year anniversary of the grant date, which is January 1, 2014, subject to the Reporting Person's continued employment with Blackstone. As these deferred restricted common units vest, the underlying common units will be delivered to the Reporting Person. Notwithstanding the foregoing, the units may be delivered earlier upon a change in control of Blackstone.

F3: Granted under the 2007 Equity Incentive Plan, 17,188 of these 20,626 deferred restricted common units vest ratably over a three-year period, with 5,729 units vesting on January 1, 2013, 5,729 units vesting on January 1, 2014 and 5,730 vesting on January 1, 2015, subject to the Reporting Person's continued employment with Blackstone. Also granted under the 2007 Equity Incentive Plan, 3,438 of these deferred restricted common units will vest on the three-year anniversary of the grant date, which is January 1, 2015, subject to the Reporting Person's continued employment with Blackstone. As these deferred restricted common units vest, the underlying common units will be delivered to the Reporting Person. Notwithstanding the foregoing, the units may be delivered earlier upon a change in control of Blackstone.

F4: Granted under the 2007 Equity Incentive Plan, 20% of these deferred restricted common units, or 6,545 units, will vest on July 1, 2015; an additional 30%, or 9,817 units, will vest on July 1, 2016; and the remaining 50%, or 16,363, will vest on July 1, 2017. As these deferred restricted common units vest, the underlying common units will be delivered to the Reporting Person, except that no more than 3/4 of the vested units will be delivered during the Reporting Person's service with Blackstone (with the remaining units to be delivered after the expiration of the Reporting Person's restrictive covenant period). Notwithstanding the foregoing, the units may be delivered earlier upon a change in control of Blackstone.