Cotton Leonard W 4

4 · BLACKSTONE MORTGAGE TRUST, INC. · Filed Jul 16, 2026

AI-generated summary of this filing

Updated Jul 17, 2026

Blackstone Mortgage Trust Director Leonard Cotton Receives 1,831-Share Award

What Happened

Leonard W. Cotton, a director of Blackstone Mortgage Trust (BXMT), was credited with 1,831 shares on July 15, 2026 as an acquisition/award at an effective price of $17.12 per share, totaling $31,347. This transaction was reported on a Form 4 filed July 16, 2026. The reported acquisition stems from stock units issued in lieu of dividends rather than an open-market purchase.

Key Details

Transaction date and price: July 15, 2026 — 1,831 shares @ $17.12 (total $31,347).
Filing date: Form 4 filed July 16, 2026 (appears timely relative to the transaction date).
Shares owned after transaction: Not specified in the provided filing details.
Footnotes of note:
- F1: These were Class A Common Stock Units issued in lieu of cash dividends; they convert to shares one-for-one. The unit count was determined by dividing the dividend value ($0.47 per share) times the number of units by the closing stock price on July 15, 2026.
- F2: The total includes 106 shares acquired since the reporting person's last filing through participation in a dividend reinvestment plan.
Transaction type code: A (award/acquisition).

Context

This was an award/acquisition tied to dividend treatment (stock units in lieu of cash) and participation in a dividend reinvestment plan, not a market buy or sale. Such dividend-related issuances are routine compensation/corporate actions and do not on their own indicate an insider buying or selling for investment reasons.

Form 4

Period: 2026-07-15

Director

Transactions

Award
Class A Common Stock
[F1][F2]
2026-07-15$17.12/sh+1,831$31,347→ 98,827 total

Footnotes (2)

[F1]Represents Class A Common Stock Units in lieu of dividends payable on Class A Common Stock Units owned by the Reporting Person, which convert to shares of Class A Common Stock on a one-for-one basis. The number of Class A Common Stock Units was calculated by dividing (1) the product of the number of Class A Common Stock Units owned by the Reporting Person and the $0.47 per share dollar amount of the Class A Common Stock dividend paid by the Company on July 15, 2026 by (2) the closing price of the Company's Class A Common Stock on July 15, 2026.
[F2]Includes 106 shares acquired since the reporting person's last filing as a result of participation in a dividend reinvestment plan.

Signature

/s/ Marcin Urbaszek, Attorney-In-Fact|2026-07-16

1 file