Summary
Blackstone Inc. (BX), formerly The Blackstone Group L.P., filed an 8-K on January 26, 2016, to report a significant board appointment. Peter T. Grauer was appointed to the board of directors of Blackstone Group Management L.L.C., the general partner of the Partnership, and will also serve on its Audit and Conflicts Committees. This appointment is noteworthy for investors as it brings a new director with committee responsibilities to the oversight of Blackstone's general partner. Mr. Grauer's compensation includes an annual cash retainer of $150,000 and a $150,000 grant of deferred restricted common units, which vest after one year, aligning his interests with the company's long-term performance. The press release announcing this appointment is attached as an exhibit.
Key Highlights
- 1Peter T. Grauer appointed to the board of directors of Blackstone Group Management L.L.C.
- 2Mr. Grauer will also serve on the Audit and Conflicts Committees of the General Partner.
- 3Annual cash retainer for Mr. Grauer is $150,000.
- 4Mr. Grauer received a $150,000 grant of deferred restricted common units upon appointment.
- 5The deferred restricted common units will vest on the first anniversary of the grant date, subject to continued service.
- 6This appointment adds experienced oversight to key board committees.