Blackstone Inc. — Director's Dealing 2014

Jan 15, 2014

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: Blackstone Group L.P. (BX)
CIK: 0001393818
Period of Report: 2014-01-14

Reporting Person: HILL J TOMILSON (Director, Vice Chairman)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2014-01-13	Common units representing limited partner interests	A	489774	—	Acquired	1527886	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common units representing limited partner interests	991371	Indirect
Common units representing limited partner interests	707071	Indirect

Footnotes

F1: Granted under the 2007 Equity Incentive Plan, 408,145 of these 489,774 deferred restricted common units vest ratably over a four-year period, with 102,036 units vesting on January 1, 2015, 102,036 units vesting on January 1, 2016, 102,036 units vesting on January 1, 2017, and 102,037 units vesting on January 1, 2018, subject to Mr. Hill's continued employment with Blackstone. Also granted under the 2007 Equity Incentive Plan, 81,629 of these deferred restricted common units will vest on January 1, 2018, subject to Mr. Hill's continued employment with Blackstone. As these deferred restricted common units vest, the underlying common units will be delivered to Mr. Hill. Notwithstanding the foregoing, the units may be delivered earlier upon a change in control of Blackstone.

F2: These units are held by a personal LLC, of which Mr. Hill is a manager. Mr. Hill disclaims beneficial ownership of the units held by this entity, except to the extent of his pecuniary interest.

F3: The units are held by a trust LLC, of which Mr. Hill's spouse is the manager. Mr. Hill disclaims beneficial ownership of the units held by this entity, except to the extent of his pecuniary interest.