UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM
(Amendment No. 1)
CURRENT REPORT
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| Item 8.01 | Other Events |
On December 7, 2021, the board of directors of Blackstone Inc. (the “Company”) authorized the repurchase of up to $2.0 billion of the Company’s common stock and Blackstone Holdings Partnership Units, which authorization replaced the Company’s prior $1.0 billion repurchase authorization. Under the repurchase program, repurchases may be made from time to time in open market transactions, in privately negotiated transactions or otherwise. The timing and the actual number of shares repurchased will depend on a variety of factors, including legal requirements, price and economic and market conditions. The repurchase program may be changed, suspended or discontinued at any time and does not have a specified expiration date. While the repurchase authorization is broad-based, the Company anticipates that share repurchases will largely be used to offset the dilutive effect from annual equity awards.
As reflected in the Form 4 filed on December 7, 2021, Hamilton E. James, the Company’s Executive Vice Chairman and a member of its board of directors, sold 5,275,992 shares of the Company’s common stock to a third party financial institution on December 7, 2021. In that connection, the Company repurchased 3,718,854 shares of common stock under the repurchase program from Mr. James for an aggregate purchase price of $499,999,920.30, which reflected the same price per share received by Mr. James in the concurrent sale of shares of common stock to such third-party financial institution. Mr. James has said these sales aggregating a total of 8,994,846 shares of common stock are primarily sales by family trusts for Mr. James’s heirs for estate planning and necessary diversification. Of his personal Blackstone shares held outside those trusts, he is selling only enough shares to partially fund the taxes owed on the exchange and is retaining 80% of his personal Blackstone shares. Mr. James has expressed his intention to remain a long-term Blackstone shareholder given his strong confidence in the firm’s future.
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Date: December 8, 2021
| Blackstone Inc. | ||
| By: | /s/ John G. Finley | |
| Name: | John G. Finley | |
| Title: | Chief Legal Officer | |