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Pay vs Performance Disclosure - USD ($)
 12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Pay vs Performance Disclosure        
Pay vs Performance Disclosure, Table
Pay Versus Performance Disclosure
The Compensation Discussion and Analysis section of this proxy statement sets forth the financial and other factors considered by the compensation committee when reviewing and setting the compensation of our Chief Executive Officer and other Named Executive Officers for the 2023 performance year. As required by Item 402(v) (the “Rule”) of Regulation
S-K,
the following sets forth information regarding compensation of our principal executive officer (the “PEO), and our other
non-PEO
named executive officers. In accordance with the Rule, the table below and the discussion that follows includes an amount referred to as “compensation actually paid” as defined in Item 402(v)(2)(iii). The calculation of this amount includes, among other things, the revaluation of unvested and outstanding equity awards. In accordance with the Rule, the revaluation of stock awards includes, as applicable:
 
 
∎
  
the
year-end
fair value of the awards granted in the covered fiscal year (e.g., 2023) that are outstanding and unvested as of the end of the covered fiscal year;
 
 
∎
  
the change in fair value from the end of the prior fiscal year (e.g., 2022) to the end of the covered fiscal year with respect to any awards granted in prior years that are outstanding and unvested as of the end of the covered fiscal year;
 
 
∎
  
the fair value, as of the vesting date, of any awards that were granted and vested in the same covered year;
 
 
∎
  
the change in fair value from the end of the prior fiscal year to the vesting date or forfeiture date with respect to any awards granted in prior years that vested or failed to vest, as applicable, in the covered fiscal year; and
 
 
∎
  
the dollar value of any dividends or other earnings paid on awards in the covered fiscal year prior to the vesting date that are not otherwise included in the total compensation for the covered fiscal year.
 
Year
  
Summary
Compensation
Table
Total for
Katharine A.
Keenan
(1)

($)
    
Compensation
Actually
Paid
to
Katharine A.
Keenan
(2)
($)
    
Summary
Compensation
Table
Total for
Stephen D.
Plavin
(1)
($)
    
Compensation
Actually
Paid to
Stephen A.
Plavin
($)
    
Average
Summary
Compensation
Table Total
for Non-PEO
Named
Executive
Officers
(3),(4)

($)
    
Average
Compensation
Actually Paid
to Non-PEO
Named
Executive
Officers
(3),(4),(5)

($)
    
Value of Initial
Fixed $100 Investment
Based On:
(6)
    
Net
Income
(8)
($ in
millions)
    
Distributable
Earnings
(9)

($ in
millions)
  
 
Total
Shareholder
Return
($)
    
Peer
Group
Total
Shareholder
Return
(7)
($)
  
2023
     1,167,400       1,293,085       —       —       269,400       299,595       85       79       246.6       526.3  
2022
     1,284,920       761,432       —       —       148,260       (325,341 )      75       69       248.6       489.8  
2021
     1,620,840       1,860,444       —       457,734       483,135       637,264       99       92       419.2       396.7  
2020
     —       —       928,556       130,062       811,124       470,503       82       78       137.7       352.0  
 
(1)
 
The dollar amounts reported in this column are the amounts of total compensation reported for Ms. Keenan for 2023. 2022 and 2021, and Stephen D. Plavin for 2021 and 2020, who served as our Chief Executive Officer, for the applicable corresponding year as reported in the “Total” column of the “Summary Compensation Table” for such corresponding year’s proxy statement. Mr. Plavin resigned as Chief Executive Officer of the Company effective June 30, 2021 and did not receive any compensation from the Company in 2021, 2022 or 2023 for service as an officer of the Company as reported in the Summary Compensation Table. For 2021, only that portion of Mr. Plavin’s compensation that was earned or paid to him in connection with his role as CEO of the Company and relating to
his
previously granted equity awards is included in the calculation of “compensation actually paid” to Mr. Plavin.
(2)
 
In accordance with the requirements of Item 402(v)(2)(iii) of Regulation
S-K,
the following adjustments were made to the amounts reported for Ms. Keenan as Chief Executive Officer in the Summary Compensation Table. Importantly, the dollar amounts do not reflect the actual amount of compensation earned by, or paid to, our Chief Executive Officer during the applicable year.
 
Description
   
2023
($)
  
Reported Summary Compensation Total
      1,167,400  
Value of Stock Awards Reported in the Summary Compensation Table Deduction
      (1,167,400 ) 
Stock Awards Adjustment
(a)
      1,293,085  
  
 
 
  
Compensation Actually Paid
      1,293,085  
 
(a)
The amounts added or deducted in calculated stock award adjustments include:
 
 
 
Year
   
Year End
Fair Value of
Unvested
Equity
Awards
Granted in
the Covered
Year
     
Year over
Year Change
in Fair Value
of
Outstanding
and
Unvested
Equity
Awards
     
Fair Value as
of Vesting
Date of
Equity
Awards
Granted and
Vested in the
Year
     
Year over
Year Change
in Fair Value
of Equity
Awards
Granted in
Prior Years
that Vested
in the Year
    
Fair Value at
the End of
the Prior
Year of
Equity
Awards that
Failed to
Meet Vesting
Conditions
in the Year
     
Value of
Dividends or
other
Earnings Paid
on
Stock Awards
not Otherwise
Reflected in
Fair Value or
Total
Compensation
     
Total Stock
Award
Adjustments
  
2023
      1,106,040        5,200        —        (17,228 )      —        199,073        1,293,085  
 
(3)
 
The dollar amounts reported in this column represent the average of the total amounts reported for our other named executive officers in the “Total” column of the “Summary Compensation Table” in the corresponding year’s proxy statement as follows:
2020: Ms. Keenan, Douglas N. Armer and Mr. Marone
2021: Messrs. Armer and Marone. Ms. Keenan, whose 2021 compensation is included in the PEO column, is excluded from this calculation.
2022: Messrs. Armer and Marone
2023: Mr. Marone
 
(4)
 
In accordance with the requirements of Item 402(v)(2)(iii) of Regulation
S-K,
when calculating the “average compensation actually paid” for our other named executive officers the following adjustments were made to the amounts reported in the Summary Compensation Table. Importantly, the dollar amounts do not reflect the actual average amount of compensation earned by, or paid to, our other named executive officers as a group during the applicable year.
 
Description
   
2023
($)
  
Reported Summary Compensation Total
      269,400  
Value of Stock Awards Reported in the Summary Compensation Table Deduction
      (269,400 ) 
Stock Awards Adjustment
(a)
      299,595  
  
 
 
  
Compensation Actually Paid
      299,595  
 
(a)
The amounts added or deducted in calculated stock award adjustments include:
 
Year
   
Year End
Fair Value of
Unvested
Equity
Awards
Granted in
the Covered
Year
     
Year over
Year Change
in Fair Value
of
Outstanding
and
Unvested
Equity
Awards
     
Fair Value as
of Vesting
Date of
Equity
Awards
Granted and
Vested in the
Year
     
Year over
Year Change
in Fair Value
of Equity
Awards
Granted in
Prior Years
that Vested
in the Year
    
Fair Value at
the End of
the Prior
Year of
Equity
Awards that
Failed to
Meet Vesting
Conditions
in the Year
     
Value of
Dividends or
other
Earnings Paid
on
Stock Awards
not Otherwise
Reflected in
Fair Value or
Total
Compensation
     
Total Equity
Award
Adjustments
  
2023
      255,240        1,183        —        (3,845 )      —        47,017        299,595  
 
(5)
 
When calculating amounts of “compensation actually paid” for purposes of this table, the fair value of awards of restricted shares of class A common stock calculated under the Financial Accounting Standard Board’s ASC Topic 718. Under ASC Topic 718, the grant date fair value is calculated using the closing market price of our class A common stock on the date of grant. Adjustments have been made using the stock price as of
year-end
and as of each vesting date, as applicable.
(6)
 
Total shareholder return as calculated based on a fixed investment of one hundred dollars measured from the market close on December 31, 2019 (the last trading day of 2019) through and including the end of the fiscal year for each year reported in the table as required by the Rule.
(7)
 
Total shareholder return for the group of companies included in the Bloomberg REIT Mortgage Index, which is the industry peer group for purposes of Item 201(e) of Regulation
S-K.
(8)
 
Represents net income attributable to Blackstone Mortgage Trust.
(9)
 
For purposes of the Rule, we have identified Distributable Earnings as our Company-Selected Metric. We define Distributable Earnings as GAAP net income (loss), including realized gains and losses not otherwise recognized in current period GAAP net income (loss), and excluding
(i) non-cash
equity compensation expense, (ii) depreciation and amortization, (iii) unrealized gains (losses), and (iv) certain
non-cash
items. Distributable Earnings may also be adjusted from time to time to exclude
one-time
events pursuant to changes in GAAP and certain other
non-cash
charges as determined by our Manager, subject to
 
 
 
  approval by a majority of our independent directors. Distributable Earnings mirrors the terms of our Management Agreement for purposes of calculating our incentive fee expense. Although Distributable Earnings is one important financial performance measure, among others, that the compensation committee considers when making compensation decisions with the intent of aligning compensation with Company performance, the compensation committee has not historically and does not currently evaluate ‘compensation actually paid’ as calculated pursuant to Item 402(v)(2) as part of its executive compensation determinations; accordingly, the compensation committee does not actually use any financial performance measure specifically to link executive compensation “actually paid” to Company performance.
     
Company Selected Measure Name Distributable Earnings      
Named Executive Officers, Footnote
(3)
 
The dollar amounts reported in this column represent the average of the total amounts reported for our other named executive officers in the “Total” column of the “Summary Compensation Table” in the corresponding year’s proxy statement as follows:
2020: Ms. Keenan, Douglas N. Armer and Mr. Marone
2021: Messrs. Armer and Marone. Ms. Keenan, whose 2021 compensation is included in the PEO column, is excluded from this calculation.
2022: Messrs. Armer and Marone
2023: Mr. Marone
     
Peer Group Issuers, Footnote Total shareholder return for the group of companies included in the Bloomberg REIT Mortgage Index, which is the industry peer group for purposes of Item 201(e) of Regulation
S-K.
      
Adjustment To PEO Compensation, Footnote
(2)
 
In accordance with the requirements of Item 402(v)(2)(iii) of Regulation
S-K,
the following adjustments were made to the amounts reported for Ms. Keenan as Chief Executive Officer in the Summary Compensation Table. Importantly, the dollar amounts do not reflect the actual amount of compensation earned by, or paid to, our Chief Executive Officer during the applicable year.
 
Description
   
2023
($)
  
Reported Summary Compensation Total
      1,167,400  
Value of Stock Awards Reported in the Summary Compensation Table Deduction
      (1,167,400 ) 
Stock Awards Adjustment
(a)
      1,293,085  
  
 
 
  
Compensation Actually Paid
      1,293,085  
 
(a)
The amounts added or deducted in calculated stock award adjustments include:
 
 
 
Year
   
Year End
Fair Value of
Unvested
Equity
Awards
Granted in
the Covered
Year
     
Year over
Year Change
in Fair Value
of
Outstanding
and
Unvested
Equity
Awards
     
Fair Value as
of Vesting
Date of
Equity
Awards
Granted and
Vested in the
Year
     
Year over
Year Change
in Fair Value
of Equity
Awards
Granted in
Prior Years
that Vested
in the Year
    
Fair Value at
the End of
the Prior
Year of
Equity
Awards that
Failed to
Meet Vesting
Conditions
in the Year
     
Value of
Dividends or
other
Earnings Paid
on
Stock Awards
not Otherwise
Reflected in
Fair Value or
Total
Compensation
     
Total Stock
Award
Adjustments
  
2023
      1,106,040        5,200        —        (17,228 )      —        199,073        1,293,085  
      
Non-PEO NEO Average Total Compensation Amount $ 269,400 $ 148,260 $ 483,135 $ 811,124
Non-PEO NEO Average Compensation Actually Paid Amount $ 299,595 (325,341) 637,264 470,503
Adjustment to Non-PEO NEO Compensation Footnote
(4)
 
In accordance with the requirements of Item 402(v)(2)(iii) of Regulation
S-K,
when calculating the “average compensation actually paid” for our other named executive officers the following adjustments were made to the amounts reported in the Summary Compensation Table. Importantly, the dollar amounts do not reflect the actual average amount of compensation earned by, or paid to, our other named executive officers as a group during the applicable year.
 
Description
   
2023
($)
  
Reported Summary Compensation Total
      269,400  
Value of Stock Awards Reported in the Summary Compensation Table Deduction
      (269,400 ) 
Stock Awards Adjustment
(a)
      299,595  
  
 
 
  
Compensation Actually Paid
      299,595  
 
(a)
The amounts added or deducted in calculated stock award adjustments include:
 
Year
   
Year End
Fair Value of
Unvested
Equity
Awards
Granted in
the Covered
Year
     
Year over
Year Change
in Fair Value
of
Outstanding
and
Unvested
Equity
Awards
     
Fair Value as
of Vesting
Date of
Equity
Awards
Granted and
Vested in the
Year
     
Year over
Year Change
in Fair Value
of Equity
Awards
Granted in
Prior Years
that Vested
in the Year
    
Fair Value at
the End of
the Prior
Year of
Equity
Awards that
Failed to
Meet Vesting
Conditions
in the Year
     
Value of
Dividends or
other
Earnings Paid
on
Stock Awards
not Otherwise
Reflected in
Fair Value or
Total
Compensation
     
Total Equity
Award
Adjustments
  
2023
      255,240        1,183        —        (3,845 )      —        47,017        299,595  
      
Compensation Actually Paid vs. Total Shareholder Return
Total Shareholder Return
The following charts show the relationship between (1) the compensation actually paid to our PEO and the average compensation actually paid to the
non-PEO
named executive officers
(“Other-NEO”)
(each as calculated pursuant to Item 402(v)(2)(iii) of Regulation
S-K)
and (2) the cumulative total shareholder return of the Company for its last three completed fiscal (calendar) years. The charts also provide a comparison of the Company’s Total Shareholder Return (“TSR”) to the Compensation Comparison Group (“CCG”) total shareholder return for the four-year period.
 
LOGO
LOGO
     
Compensation Actually Paid vs. Net Income
Net Income and Distributable Earnings
The following charts show the relationship between (1) the compensation actually paid to our PEO and the average compensation actually paid to the Other-NEOs (each as calculated pursuant to Item 402(v)(2)(iii) of Regulation
S-K)
and (2) both the net income and Distributable Earnings of the Company for the last four fiscal years.
 
LOGO
LOGO
     
Compensation Actually Paid vs. Company Selected Measure
Net Income and Distributable Earnings
The following charts show the relationship between (1) the compensation actually paid to our PEO and the average compensation actually paid to the Other-NEOs (each as calculated pursuant to Item 402(v)(2)(iii) of Regulation
S-K)
and (2) both the net income and Distributable Earnings of the Company for the last four fiscal years.
 
LOGO
LOGO
     
Total Shareholder Return Vs Peer Group
Total Shareholder Return
The following charts show the relationship between (1) the compensation actually paid to our PEO and the average compensation actually paid to the
non-PEO
named executive officers
(“Other-NEO”)
(each as calculated pursuant to Item 402(v)(2)(iii) of Regulation
S-K)
and (2) the cumulative total shareholder return of the Company for its last three completed fiscal (calendar) years. The charts also provide a comparison of the Company’s Total Shareholder Return (“TSR”) to the Compensation Comparison Group (“CCG”) total shareholder return for the four-year period.
 
LOGO
LOGO
     
Total Shareholder Return Amount $ 85 75 99 82
Peer Group Total Shareholder Return Amount 79 69 92 78
Net Income (Loss) $ 246,600,000 $ 248,600,000 $ 419,200,000 $ 137,700,000
Company Selected Measure Amount 526,300,000 489,800,000 396,700,000 352,000,000
Katharine A. Keenan [Member]        
Pay vs Performance Disclosure        
PEO Total Compensation Amount $ 1,167,400 $ 1,284,920 $ 1,620,840  
PEO Actually Paid Compensation Amount $ 1,293,085 $ 761,432 $ 1,860,444  
PEO Name Ms. Keenan Ms. Keenan Ms. Keenan  
Stephen D. Plavin [Member]        
Pay vs Performance Disclosure        
PEO Total Compensation Amount       $ 928,556
PEO Actually Paid Compensation Amount     $ 457,734 $ 130,062
PEO Name     Stephen D. Plavin Stephen D. Plavin
PEO | Katharine A. Keenan [Member] | Value of Stock Awards Reported in the Summary Compensation Table Deduction [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount $ (1,167,400)      
PEO | Katharine A. Keenan [Member] | Stock Awards Adjustment [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount 1,293,085      
PEO | Katharine A. Keenan [Member] | Year End Fair Value of Unvested Equity Awards Granted in the Covered Year [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount 1,106,040      
PEO | Katharine A. Keenan [Member] | Year over Year Change in Fair Value of Outstanding and Unvested Equity Awards [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount 5,200      
PEO | Katharine A. Keenan [Member] | Fair Value as of Vesting Date of Equity Awards Granted and Vested in the Year [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount 0      
PEO | Katharine A. Keenan [Member] | Year over Year Change in Fair Value of Equity Awards Granted in Prior Years that Vested in the Year [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount (17,228)      
PEO | Katharine A. Keenan [Member] | Fair Value at the End of the Prior Year of Equity Awards that Failed to Meet Vesting Conditions in the Year [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount 0      
PEO | Katharine A. Keenan [Member] | Value of Dividends or other Earnings Paid on Stock Awards not Otherwise Reflected in Fair Value or Total Compensation [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount 199,073      
Non-PEO NEO | Value of Stock Awards Reported in the Summary Compensation Table Deduction [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount (269,400)      
Non-PEO NEO | Stock Awards Adjustment [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount 299,595      
Non-PEO NEO | Year End Fair Value of Unvested Equity Awards Granted in the Covered Year [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount 255,240      
Non-PEO NEO | Year over Year Change in Fair Value of Outstanding and Unvested Equity Awards [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount 1,183      
Non-PEO NEO | Fair Value as of Vesting Date of Equity Awards Granted and Vested in the Year [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount 0      
Non-PEO NEO | Year over Year Change in Fair Value of Equity Awards Granted in Prior Years that Vested in the Year [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount (3,845)      
Non-PEO NEO | Fair Value at the End of the Prior Year of Equity Awards that Failed to Meet Vesting Conditions in the Year [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount 0      
Non-PEO NEO | Value of Dividends or other Earnings Paid on Stock Awards not Otherwise Reflected in Fair Value or Total Compensation [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount $ 47,017