Blackstone Inc. — Director's Dealing 2019

Nov 8, 2019

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: Blackstone Group Inc (BX)
CIK: 0001393818
Period of Report: 2019-11-05

Reporting Person: JAMES HAMILTON E (Director, Executive Vice Chairman)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2019-11-05	Class A Common Stock	C	1500000	$0.00	Acquired	1500000	Indirect
2019-11-05	Class A Common Stock	S	280046	$51.73	Disposed	1219954	Indirect
2019-11-06	Class A Common Stock	S	265779	$51.78	Disposed	954175	Indirect
2019-11-06	Class A Common Stock	S	7875	$52.64	Disposed	946300	Indirect

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2019-11-05	Blackstone Holdings partnership units	$	C	1500000	Disposed		Class A Common Stock (1500000)	Indirect

Holdings (Non-Derivative)

Security	Shares	Ownership
Class A Common Stock	20497	Indirect

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Blackstone Holdings partnership units	$		Class A Common Stock (19723093)	19723093	Direct
Blackstone Holdings partnership units	$		Class A Common Stock (3500000)	3500000	Indirect

Footnotes

F1: On July 1, 2019, The Blackstone Group L.P., a Delaware limited partnership, converted into a Delaware corporation named The Blackstone Group Inc. As a result of such conversion, each common unit of limited partner interest of The Blackstone Group L.P. ("Common Units") converted into a share of Class A common stock of The Blackstone Group Inc. ("Class A Common Stock"). References to Class A Common Stock in this Form 4 also refer to Common Units of The Blackstone Group L.P. prior to the conversion described herein.

F2: Pursuant to an exchange agreement, the Reporting Person exchanged 1,500,000 Blackstone Holdings partnership units (as defined below) for an equal number of shares of Class A Common Stock of The Blackstone Group Inc.

F3: These securities are held in a trust for the benefit of the Reporting Person's children (the Children's Trust), of which the Reporting Person is a trustee, but the Reporting Person does not have or share investment control with respect to the units.

F4: The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $51.31 to $52.11, inclusive. The Reporting Person undertakes to provide, upon request by the Securities and Exchange Commission staff, the issuer or a security holder of the issuer, full information regarding the number of shares sold at each separate price for all transactions reported on this Form 4.

F5: The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $51.50 to $52.49, inclusive. The Reporting Person undertakes to provide, upon request by the Securities and Exchange Commission staff, the issuer or a security holder of the issuer, full information regarding the number of shares sold at each separate price for all transactions reported on this Form 4.

F6: The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $52.50 to $52.81, inclusive. The Reporting Person undertakes to provide, upon request by the Securities and Exchange Commission staff, the issuer or a security holder of the issuer, full information regarding the number of shares sold at each separate price for all transactions reported on this Form 4.

F7: These securities are held in a limited liability company beneficially owned by the Reporting Person, his spouse and a trust for the benefit of the Reporting Person's children.

F8: A "Blackstone Holdings partnership" unit collectively refers to one limited partner interest in each of Blackstone Holdings I L.P., Blackstone Holdings II L.P., Blackstone Holdings III L.P., Blackstone Holdings IV L.P. and Blackstone Holdings AI L.P. Subject to the minimum retained ownership requirements and transfer restrictions set forth in the partnership agreements of the Blackstone partnerships, the holder has the right, exercisable from time to time, to exchange each Blackstone Holdings partnership unit for one share of Class A Common Stock of The Blackstone Group Inc. The Blackstone Holdings partnership units have no expiration date and may not be exchanged at any time prior to December 31, 2019 other than pursuant to transactions or programs approved by Blackstone.

F9: These securities are held in a trust for the benefit of the Reporting Person's grandchildren (the Grandchildren's Trust), of which the Reporting Person is a trustee.