Nash Michael B. 4

What Happened
Michael B. Nash, a director of Blackstone Mortgage Trust, received an award of 6,597 Restricted Class A Common Stock on 2026-06-26. The shares are reported at $17.43 each for a total reported value of $114,986 (the award was calculated from $115,000 in retainer/meeting fees divided by the June 26 closing price). This was an award/compensation grant (Form 4 transaction code A), not an open-market purchase or sale.

Key Details

• Transaction date and price: 2026-06-26, 6,597 shares at $17.43 each (reported value $114,986).
• Consideration: Award in lieu of director retainer and meeting fees (calculated from $115,000).
• Vesting: The award vests in full on the date of the Company’s 2027 annual meeting, subject to Nash’s continued service as of that date (per footnote F1).
• Shares owned after transaction: Not disclosed in the provided filing excerpt.
• Filing: Form filed with accession 0001061630-26-000042 on 2026-06-29 (for the 2026-06-26 transaction).

Context
Director awards of restricted stock in lieu of cash retainers are routine compensation and do not indicate an immediate buy or sell sentiment—these shares are subject to vesting and cannot be disposed of until vesting conditions are met. This was a grant (compensation), not an exercise, sale, or open-market purchase.