=== SEC Form 4 — Statement of Changes in Beneficial Ownership ===
Document Type: 4
Period of Report: 2026-02-11
10b5-1 Pre-arranged Plan: No
--- Issuer ---
Name: Blackstone Inc. (BX)
CIK: 0001393818
--- Reporting Owner ---
Name: Baratta Joseph
CIK: 0001574706
Role: Director
--- Derivative Transactions ---
[Transaction #1]
Security: Blackstone Holdings Partnership Units
Date: 2026-02-11 | Code: G (Gift)
Shares: -41,290 | Price: $0.00
Shares Owned After: 4,128,950 | Ownership: I (Indirect) | Nature: See footnote
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] For estate planning purposes, the Reporting Person gifted interests in the limited liability company described herein to a trust for the benefit of the Reporting Person's family members, of which the Reporting Person and his spouse are trustees. Such limited liability company holds Blackstone Holdings Partnership Units. The number of Blackstone Holdings Partnership Units reported as subject to this gift represents the portion of such units that corresponds to the limited liability company interests transferred to the trust. This transaction did not change the number of Blackstone Holdings Partnership Units held by the limited liability company, which continues to hold 4,128,950 Blackstone Holdings Partnership Units.
[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.
[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] For estate planning purposes, the Reporting Person gifted interests in the limited liability company described herein to a trust for the benefit of the Reporting Person's family members, of which the Reporting Person and his spouse are trustees. Such limited liability company holds Blackstone Holdings Partnership Units. The number of Blackstone Holdings Partnership Units reported as subject to this gift represents the portion of such units that corresponds to the limited liability company interests transferred to the trust. This transaction did not change the number of Blackstone Holdings Partnership Units held by the limited liability company, which continues to hold 4,128,950 Blackstone Holdings Partnership Units.
[F3] These Blackstone Holdings Partnership Units are held by a limited liability company, of which the Reporting Person is the manager.
[Transaction #2]
Security: Blackstone Holdings Partnership Units
Date: 2026-02-11 | Code: G (Gift)
Shares: +41,290 | Price: $0.00
Shares Owned After: 4,128,950 | Ownership: I (Indirect) | Nature: See footnote
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] For estate planning purposes, the Reporting Person gifted interests in the limited liability company described herein to a trust for the benefit of the Reporting Person's family members, of which the Reporting Person and his spouse are trustees. Such limited liability company holds Blackstone Holdings Partnership Units. The number of Blackstone Holdings Partnership Units reported as subject to this gift represents the portion of such units that corresponds to the limited liability company interests transferred to the trust. This transaction did not change the number of Blackstone Holdings Partnership Units held by the limited liability company, which continues to hold 4,128,950 Blackstone Holdings Partnership Units.
[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.
[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] For estate planning purposes, the Reporting Person gifted interests in the limited liability company described herein to a trust for the benefit of the Reporting Person's family members, of which the Reporting Person and his spouse are trustees. Such limited liability company holds Blackstone Holdings Partnership Units. The number of Blackstone Holdings Partnership Units reported as subject to this gift represents the portion of such units that corresponds to the limited liability company interests transferred to the trust. This transaction did not change the number of Blackstone Holdings Partnership Units held by the limited liability company, which continues to hold 4,128,950 Blackstone Holdings Partnership Units.
[F3] These Blackstone Holdings Partnership Units are held by a limited liability company, of which the Reporting Person is the manager.
--- Holdings ---
[Holding #1]
Security: Blackstone Holdings Partnership Units
Ownership: D (Direct)
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.
[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.
[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.
[Holding #2]
Security: Blackstone Holdings Partnership Units
Ownership: I (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.
[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.
[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.
[F4] 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 a trustee.
--- Footnotes (Complete Index) ---
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: For estate planning purposes, the Reporting Person gifted interests in the limited liability company described herein to a trust for the benefit of the Reporting Person's family members, of which the Reporting Person and his spouse are trustees. Such limited liability company holds Blackstone Holdings Partnership Units. The number of Blackstone Holdings Partnership Units reported as subject to this gift represents the portion of such units that corresponds to the limited liability company interests transferred to the trust. This transaction did not change the number of Blackstone Holdings Partnership Units held by the limited liability company, which continues to hold 4,128,950 Blackstone Holdings Partnership Units.
F3: These Blackstone Holdings Partnership Units are held by a limited liability company, of which the Reporting Person is the manager.
F4: 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 a trustee.
--- Signature ---
/s/ Victoria Portnoy as Attorney-In-Fact (2026-02-13)
