James Hamilton E Form 4 Blackstone / HAMILTON E JAMES ownership change

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

1. Name and Address of Reporting Person^*

JAMES HAMILTON E

(Last) (First) (Middle)

C/O THE BLACKSTONE GROUP

345 PARK AVENUE

(Street)

NEW YORK NY 10154

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Blackstone Group Inc [ BX ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director	10% Owner
X	Officer (give title below)	Other (specify below)
Executive Vice Chairman

3. Date of Earliest Transaction (Month/Day/Year)
02/09/2021

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Class A Common Stock	02/09/2021		C(1)		1,000,000	A	$0.00	1,000,000	D
Class A Common Stock	02/09/2021		C(2)		1,150,000	A	$0.00	1,150,000	I	See footnote(3)
Class A Common Stock	02/09/2021		C(4)		700,000	A	$0.00	700,000	I	See footnote(5)
Class A Common Stock								20,497	I	See footnote(6)

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Blackstone Holdings partnership units	(7)	02/09/2021		C(1)			1,000,000	(7)	(7)	Class A Common Stock	1,000,000	(7)	18,723,093	D
Blackstone Holdings partnership units	(7)	02/09/2021		C(2)			1,150,000	(7)	(7)	Class A Common Stock	1,150,000	(7)	4,507,207	I	See footnote(3)
Blackstone Holdings partnership units	(7)	02/09/2021		C(4)			700,000	(7)	(7)	Class A Common Stock	700,000	(7)	2,800,000	I	See footnote(5)

Explanation of Responses:

1. Pursuant to an exchange agreement, the Reporting Person exchanged 1,000,000 Blackstone Holdings partnership units (as defined below) for an equal number of shares of Class A Common Stock of The Blackstone Group Inc.

2. Pursuant to an exchange agreement, the Reporting Person exchanged 1,150,000 Blackstone Holdings partnership units (as defined below) for an equal number of shares of Class A Common Stock of The Blackstone Group Inc.

3. These securities are held in a trust for the benefit of the Reporting Person's children (the Children's Trust), of which the Reporting Person is a trustee, but the Reporting Person does not have or share investment control with respect to the units.

4. Pursuant to an exchange agreement, the Reporting Person exchanged 700,000 Blackstone Holdings partnership units (as defined below) for an equal number of shares of Class A Common Stock of The Blackstone Group Inc.

5. These securities are held in a trust for the benefit of the Reporting Person's grandchildren (the Grandchildren's Trust), of which the Reporting Person is a trustee.

6. These securities are held in a limited liability company beneficially owned by the Reporting Person, his spouse and a trust for the benefit of the Reporting Person's children.

7. A "Blackstone Holdings partnership" unit collectively refers to one limited partner interest in each of Blackstone Holdings I L.P., Blackstone Holdings II L.P., Blackstone Holdings III L.P., Blackstone Holdings IV L.P. and Blackstone Holdings AI L.P. Subject to the minimum retained ownership requirements and transfer restrictions set forth in the partnership agreements of the Blackstone partnerships, the holder has the right, exercisable from time to time, to exchange each Blackstone Holdings partnership unit for one share of Class A Common Stock of The Blackstone Group Inc. The Blackstone Holdings partnership units have no expiration date and may not be exchanged other than pursuant to transactions or programs approved by Blackstone.

Remarks:

The Reporting Person disclaims beneficial ownership of the securities reported on this form except to the extent of his pecuniary interest.

	Tabea Y. Hsi as Attorney-In-Fact	02/11/2021
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
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