Blackstone Inc. — Director's Dealing 2016

Jan 22, 2016

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: Blackstone Group L.P. (BX)
CIK: 0001393818
Period of Report: 2016-01-20

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

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2016-01-20	Common units representing limited partner interests	A	191883	$0.00	Acquired	1175863	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, these deferred restricted common units will vest ratably over a three-year period, with 63,961 units vesting on January 20, 2017, 63,961 units vesting on January 20, 2018, and 63,961 units vesting on January 20, 2019, 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: Includes 15,389 Blackstone common units issued on October 1, 2015 as an anti-dilution adjustment in connection with the spin-off of PJT Partners Inc. by The Blackstone Group L.P.

F3: These units are held by a personal LLC, of which the Reporting Person is a manager.

F4: The units are held by a trust LLC, of which the Reporting Person's spouse is the manager.