Cotton Leonard W 4

What Happened Leonard W. Cotton, a director of Blackstone Mortgage Trust (BXMT), was granted 6,597 restricted Class A common shares on June 26, 2026. The award was valued at $17.43 per share for a total of $114,986 (approximately $115,000). This grant was issued in lieu of cash retainer and meeting fees and is a compensation award rather than an open-market purchase or sale.

Key Details

• Transaction date: 2026-06-26; filing date: 2026-06-29 (filed within the normal Form 4 reporting window).
• Transaction type/code: Award/Grant (A).
• Shares granted: 6,597 restricted Class A common shares.
• Price/value: $17.43 per share; total value reported $114,986 (award calculated from $115,000 in fees divided by the June 26 closing price).
• Vesting: Award vests in full on the date of the Company’s 2027 annual meeting, contingent on the director’s continued service through that date.
• Shares owned after transaction: Not specified in the filing.
• Footnote: Award was issued in lieu of retainer and meeting fees and is subject to restriction and vesting conditions.

Context: This was a routine director compensation award, not an open-market purchase or sale, so it reflects standard pay-for-service rather than a direct buy/sell signal about the stock. The shares are restricted and subject to vesting, which limits immediate liquidity.