Cotton Leonard W 4

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.