Blackstone Inc. — Director's Dealing 2025

Dec 12, 2025

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: Blackstone Inc. (BX)
CIK: 0001393818
Period of Report: 2025-12-10

Reporting Person: Chae Michael (N/A)

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2025-12-10	Blackstone Holdings Partnership Unit	$	G	63964	Disposed		Common Stock (63964)	Direct

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Blackstone Holdings Partnership Unit	$		Common Stock (1000000)	1000000	Indirect
Blackstone Holdings Partnership Unit	$		Common Stock (150070)	150070	Indirect

Footnotes

F1: 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 Common Stock of Blackstone Inc. The Blackstone Holdings Partnership Units have no expiration date and may not be exchanged other than pursuant to transactions or programs approved by Blackstone.

F2: The Reporting Person donated 63,964 Blackstone Holdings Partnership Units to a charitable foundation.

F3: These Blackstone Holdings Partnership Units are held by a trust for the benefit of the Reporting Person's family members, of which the Reporting Person is the investment trustee.

F4: These Blackstone Holdings Partnership Units are held by a trust for the benefit of the Reporting Person's children, of which the Reporting Person is the investment trustee.