8-KLeadership ChangesExhibits & Filings

Blackstone Inc. 8-K Report, Executive Changes (Jan 26, 2016)

Filed January 26, 2016For Securities:BX

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.

Frequently Asked Questions

Peter T. Grauer has been appointed to the board of directors of Blackstone Group Management L.L.C., the general partner of The Blackstone Group L.P. His appointment is significant as it adds a new director who will also contribute to the oversight of critical functions through his membership on the Audit and Conflicts Committees. This enhances the governance structure of the firm's general partner.

Mr. Grauer will receive an annual cash retainer of $150,000. Additionally, he received a grant of deferred restricted common units valued at $150,000 upon his appointment. This equity grant is designed to vest over one year, contingent upon his continued service, thereby aligning his incentives with the long-term success of Blackstone.

This specific 8-K filing (dated January 26, 2016) is primarily focused on the appointment of Peter T. Grauer to the board of directors and his compensation. It also includes the press release announcing this appointment as an exhibit.