Fiscal year 2025 executive and director compensation, incentive-plan design, equity activity, and governance — every figure in this brief is traceable to its exact location in the company’s SEC filing — the document, the section, the page, and the table, linked directly.
Each company listed discloses BXMT in its own benchmarking peer group, as disclosed in each company's most recent proxy statement within the last two proxy seasons. Two companies are therefore absent by design: one that named BXMT in an earlier year and no longer does, and one whose own most recent disclosure is older than the last two seasons.
| Named executive officer | Salary | Bonus | Stock awards | Option awards | Non-equity incentive | Pension / NQDC | All other | Total |
|---|---|---|---|---|---|---|---|---|
| F. Austin Peña | $0 | $0 | $1,293,171 | $0 | $0 | $0 | $0 | $1,293,171 |
| President and Director | ||||||||
| Katharine Keenan | 0 | 0 | 1,171,743 | 0 | 0 | 0 | 0 | 1,171,743 |
| Former Chief Executive Officer and President | ||||||||
| Timothy Johnson | 0 | 0 | 1,130,503 | 0 | 0 | 0 | 0 | 1,130,503 |
| Chief Executive Officer and Chair of the Board of Directors | ||||||||
| Anthony Marone | 0 | 0 | 298,062 | 0 | 0 | 0 | 0 | 298,062 |
| Former Chief Financial Officer, Treasurer and Assistant Secretary | ||||||||
A dash means the company reported no figure in that column; 0 means it reported zero. Figures are as printed in the filing, without adjustment.
| Named executive officer | FY2025 total | FY2024 total | FY2023 total | Δ FY2024→2025 |
|---|---|---|---|---|
| F. Austin Peña | $1,293,171 | — | — | — |
| Katharine Keenan | 1,171,743 | 990,854 | 1,167,400 | +180,889 |
| Timothy Johnson | 1,130,503 | — | — | — |
| Anthony Marone | 298,062 | 229,320 | 269,400 | +68,742 |
Prior-year totals as disclosed in the corresponding proxy; deltas are computed values with the derivation shown in the register.
Every insider equity transaction reported on Form 4 after the 2025 proxy statement — acquisitions, dispositions, exercises, and withholdings — and therefore not reflected in any table in that document.
| Insider | Role | Transaction date | Code | Shares | Price | Value | Security | Source |
|---|---|---|---|---|---|---|---|---|
| Marcin Urbaszek | Chief Financial Officer | 2026-06-17 | D | 1,352 | $18 | $24,809 | Common | Form 4 ↗ |
| Fernando Austin Pena | Director | 2026-06-25 | D | 2,398 | 17 | 41,917 | Common | Form 4 ↗ |
| Leonard W. Cotton | Director | 2026-06-26 | A | 6,597 | 17 | 114,986 | Common | Form 4 ↗ |
| Henry N. Nassau | Director | 2026-06-26 | A | 6,597 | 17 | 114,986 | Common | Form 4 ↗ |
| Lynne B. Sagalyn | Director | 2026-06-26 | A | 6,597 | 17 | 114,986 | Common | Form 4 ↗ |
| Nnenna Lynch | Director | 2026-06-26 | A | 6,597 | 17 | 114,986 | Common | Form 4 ↗ |
| Michael B. Nash | Director | 2026-06-26 | A | 6,597 | 17 | 114,986 | Common | Form 4 ↗ |
| Jean Hsu | Director | 2026-06-26 | A | 6,597 | 17 | 114,986 | Common | Form 4 ↗ |
| Gilda Perez-Alvarado | Director | 2026-06-26 | A | 6,597 | 17 | 114,986 | Common | Form 4 ↗ |
| Fernando Austin Pena | Director | 2026-06-30 | D | 1,670 | 17 | 28,509 | Common | Form 4 ↗ |
| Nnenna Lynch | Director | 2026-07-15 | A | 1,147 | 17 | 19,637 | Common | Form 4 ↗ |
| Jean Hsu | Director | 2026-07-15 | A | 181 | 17 | 3,099 | Common | Form 4 ↗ |
| Leonard W. Cotton | Director | 2026-07-15 | A | 1,831 | 17 | 31,347 | Common | Form 4 ↗ |
| Henry N. Nassau | Director | 2026-07-15 | A | 3,044 | 17 | 52,113 | Common | Form 4 ↗ |
| Lynne B. Sagalyn | Director | 2026-07-15 | A | 3,939 | 17 | 67,436 | Common | Form 4 ↗ |
Transaction codes per Form 4: A acquisition · S open-market sale · F tax withholding · M option exercise · G gift. Value = shares × price as reported. Dividend-equivalent and fractional-share accrual rows (derivative Class A, under $10,000 and under 2,000 shares) are aggregated per date; every row appears in full below.
| Executive | Award | Grant date | Threshold | Target | Granted | Maximum | Grant-date fair value |
|---|---|---|---|---|---|---|---|
| Timothy Johnson | RSU | 2025-12-15 | — | — | 54,799 | — | $1,130,503 |
| Katharine Keenan | RSU | 2025-12-15 | — | — | 56,798 | — | 1,171,743 |
| F. Austin Peña | RSU | 2025-12-15 | — | — | 36,843 | — | 760,071 |
| F. Austin Peña | RSU | 2025-01-01 | — | — | 30,000 | — | 533,100 |
| Anthony Marone | RSU | 2025-12-15 | — | — | 14,448 | — | 298,062 |
| Named executive officer | Time-vested (RSU) | Performance-vested (PSU) | Options / SARs | % performance-vested |
|---|---|---|---|---|
| Timothy Johnson | $1,130,503 | $0 | $0 | 0.0% |
| Katharine Keenan | 1,171,743 | 0 | 0 | 0.0% |
| F. Austin Peña | 1,293,171 | 0 | 0 | 0.0% |
| Anthony Marone | 298,062 | 0 | 0 | 0.0% |
% performance-vested = PSU grant-date fair value ÷ (RSU + PSU + Options), a computed value with the derivation shown in the register.
| Executive | Award | Shares unvested | Exercise price | Market value unvested |
|---|---|---|---|---|
| Anthony Marone | RSU | 14,448 | — | $276,390 |
| Anthony Marone | RSU | 8,000 | — | 153,040 |
| Katharine Keenan | RSU | 56,798 | — | 1,086,546 |
| Katharine Keenan | RSU | 17,333 | — | 331,580 |
| Katharine Keenan | RSU | 34,567 | — | 661,267 |
| Anthony Marone | RSU | 4,000 | — | 76,520 |
Blackstone compensates its employees, including our Named Executive Officers, in accordance with the Blackstone compensation philosophy. The compensation of senior employees of Blackstone, including our Named Executive Officers, is primarily composed of (i) annual cash bonus payments tied to Blackstone's overall performance and the performance of the applicable business unit(s) in which such employee works, (ii) performance interests (composed primarily of carried interest and/or incentive fee interests) tied to the performance of the investments made by the Blackstone-advised investment vehicles in the business unit(s) in which such employee works or for which he or she has responsibility, which include the Company and (iii) deferred equity awards reflecting the value of Blackstone's common stock and/or our class A common stock.
| CEO STI target (% of salary) | — |
|---|---|
| CEO LTI target (% of salary) | — |
| Independent consultant | FPL Associates, L.P. |
| Clawback policy | true |
| Anti-hedging | True |
| Anti-pledging | True |
| Meeting year | Meeting date | For | Against | Abstain | Support | Outcome |
|---|---|---|---|---|---|---|
| 2026 | 2026-06-26 | 77,361,597 | 5,326,768 | 583,765 | 93.56% | Passed |
| 2025 | 2025-06-27 | 82,129,529 | 4,752,643 | 528,100 | 94.53% | Passed |
| 2024 | 2024-06-21 | 74,495,835 | 4,298,984 | 636,167 | 94.54% | Passed |
| 2023 | 2023-06-23 | 62,826,192 | 3,880,676 | 597,109 | 94.18% | Passed |
| 2022 | 2022-06-16 | 77,210,367 | 2,927,075 | 491,065 | 96.35% | Passed |
| 2021 | 2021-07-07 | 68,953,499 | 2,600,739 | 589,634 | 96.37% | Passed |
Rows are labeled by annual-meeting year, with the meeting date beside each; the vote held in a given year acts on the prior fiscal year's compensation.
| Meeting year | Meeting date | Approval — company's computation |
|---|---|---|
| 2026 | 2026-06-26 | 93.56%a |
| 2025 | 2025-06-27 | 94.53%b |
| 2024 | 2024-06-21 | 94.54%c |
a. Approved under the standard stated in the filing — “Abstentions and "broker non-votes," if any, will not affect the outcome of this proposal.”.
b. Approved under the standard stated in the filing — “Abstentions and "broker non-votes," if any, will not affect the outcome of this proposal.”.
c. Approved under the standard stated in the filing — “Abstentions and "broker non-votes", if any, will not affect the outcome of this proposal.”.
Approval percentages are the company's own reported computations under its own stated standard, not recomputed by Velarion. Where a company does not state a standard, none is assumed.
| Ratio (CEO : median employee) | — |
|---|---|
| CEO total compensation | — |
| Median employee compensation | — |
| Director | Cash fees | Stock awards | Option awards | Non-equity incentive | All other | Total |
|---|---|---|---|---|---|---|
| Leonard W. CottonIndependent · Lead Independent Director · Audit · Investment Risk Management (Chair) | $142,500 | $115,000 | $0 | $0 | $0 | $257,500 |
| Henry N. NassauIndependent · Compensation (Chair) · Corporate Governance (Chair) | 120,000 | 115,000 | 0 | 0 | 0 | 235,000 |
| Lynne B. SagalynIndependent · Audit (Chair) · Compensation · Corporate Governance | 115,000 | 115,000 | 0 | 0 | 0 | 230,000 |
| Nnenna LynchIndependent · Audit · Corporate Governance · Investment Risk Management | 112,500 | 115,000 | 0 | 0 | 0 | 227,500 |
| Gilda Perez-AlvaradoIndependent · Compensation · Investment Risk Management | 102,500 | 115,000 | 0 | 0 | 0 | 217,500 |
| Michael B. NashNot independent | 95,000 | 115,000 | 0 | 0 | 0 | 210,000 |
| Jean HsuIndependent · Compensation · Investment Risk Management · Partial-year service · Newly elected | 18,479 | 26,046 | 0 | 0 | 0 | 44,525 |
| Thomas E. DobrowskiIndependent · Audit · Investment Risk Management · Departed during FY | 4,623 | — | — | 0 | 0 | 4,623 |
| Timothy S. JohnsonEmployee director · Board Chair | 0 | 0 | 0 | — | 0 | 0 |
| Katharine A. KeenanEmployee director · Departed during FY | 0 | 0 | 0 | — | 0 | 0 |
| F. Austin PeñaEmployee director · Partial-year service · Newly elected | 0 | 0 | 0 | — | 0 | 0 |
| Annual cash retainer | $95,000 |
|---|---|
| Annual equity retainer | $115,000 |
| Per board meeting fee | — |
| Committee chair fees (audit / comp / nom-gov) | 15,000 / 10,000 |
| Stock ownership guideline | 5x annual cash retainer |
| Component | FY2025 |
|---|---|
| Cash retainers and fees | $710,602 |
| Equity awards (grant-date value) | $716,046 |
| All other compensation | $0 |
| Total cost of the board | $1,426,648 |
Computed as the sum of the director compensation table rows above; inputs and formula shown in the register.
Most recent fiscal-year chief executive compensation at each disclosed peer, taken from that company's own proxy statement.
| Rank | Company | FY | Chief executive | Salary | Stock awards | Option awards | Non-equity incentive | Total |
|---|---|---|---|---|---|---|---|---|
| 1 | Blackstone Mortgage Trust, INC. | 2025 | Timothy Johnson | $0 | $1,130,503 | $0 | $0 | $1,130,503 |
Each peer's compensation is from its most recently filed proxy; fiscal years differ by company. Each peer's figures come from its own filings; the subject company is highlighted. Peers whose chief executive compensation is outside our coverage universe are stated as such, never left blank.
Answers are drawn only from the figures disclosed in this brief and cited to their location in the source filing. Where a figure required for an answer is not disclosed, that is stated rather than estimated.
Each figure's location is given both for the eye (section · page · table · row · column) and for a script (table/row/column index and exact character span in the filed document). Any figure can be independently confirmed against the source.
| # | Supports | Document | Filed | Accession | Location in document |
|---|---|---|---|---|---|
| 1 | Section 01, F. Austin Peña | DEF 14A | 2026-04-29 | 0001193125-26-191913 | Section “Summary Compensation Table”. As printed: 1,293,171. Filing ↗machine: r16 · c26 · span 370403–370412 |
| 2 | Section 01, Katharine Keenan | DEF 14A | 2026-04-29 | 0001193125-26-191913 | Section “Summary Compensation Table”. As printed: 1,171,743. Filing ↗machine: t121 · r8 · c15 · span 356718–356727 |
| 3 | Section 01, Timothy Johnson | DEF 14A | 2026-04-29 | 0001193125-26-191913 | Section “Summary Compensation Table” · page 32. As printed: 1,130,503. Filing ↗machine: r4 · c27 · span 349508–349517 |
| 4 | Section 01, Anthony Marone | DEF 14A | 2026-04-29 | 0001193125-26-191913 | Section “Summary Compensation Table” · page 32. As printed: 298,062. Filing ↗machine: r12 · c27 · span 363384–363391 |
| 5 | Section 03, Timothy Johnson RSU | DEF 14A | 2026-04-29 | 0001193125-26-191913 | Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t126 · r4 · c7 · span 382488–382494 |
| 6 | Section 03, Katharine Keenan RSU | DEF 14A | 2026-04-29 | 0001193125-26-191913 | Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t126 · r10 · c7 · span 386393–386399 |
| 7 | Section 03, F. Austin Peña RSU | DEF 14A | 2026-04-29 | 0001193125-26-191913 | Section “THE ELECTION OF EACH OF THE DIRECTOR NOMINEES NAMED ABOVE. &” · grants of plan-based awards table. Filing ↗machine: t126 · r6 · c11 · span 384085–384092 |
| 8 | Section 03, F. Austin Peña RSU | DEF 14A | 2026-04-29 | 0001193125-26-191913 | Section “THE ELECTION OF EACH OF THE DIRECTOR NOMINEES NAMED ABOVE. &” · grants of plan-based awards table. Filing ↗machine: t126 · r8 · c11 · span 385320–385327 |
| 9 | Section 03, Anthony Marone RSU | DEF 14A | 2026-04-29 | 0001193125-26-191913 | Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t121 · r12 · c15 · span 363384–363391 |
| 10 | Section 07, pay ratio | DEF 14A | 2026-04-29 | 0001193125-26-191913 | Section “CEO Pay Ratio”. As printed: —. Filing ↗ |
| 11 | Section 08, Leonard W. Cotton | DEF 14A | 2026-04-29 | 0001193125-26-191913 | Section “Director Compensation”. As printed: 257,500. Filing ↗machine: t159 · r4 · c11 · span 546563–546570 |
| 12 | Section 08, Henry N. Nassau | DEF 14A | 2026-04-29 | 0001193125-26-191913 | Section “Director Compensation”. As printed: 235,000. Filing ↗machine: t159 · r18 · c11 · span 556422–556429 |
| 13 | Section 08, Lynne B. Sagalyn | DEF 14A | 2026-04-29 | 0001193125-26-191913 | Section “Director Compensation”. As printed: 230,000. Filing ↗machine: t159 · r24 · c11 · span 560688–560695 |
| 14 | Section 08, Nnenna Lynch | DEF 14A | 2026-04-29 | 0001193125-26-191913 | Section “Director Compensation”. As printed: 227,500. Filing ↗machine: t159 · r14 · c11 · span 553641–553648 |
| 15 | Section 08, Gilda Perez-Alvarado | DEF 14A | 2026-04-29 | 0001193125-26-191913 | Section “Director Compensation”. As printed: 217,500. Filing ↗machine: t159 · r22 · c11 · span 559271–559278 |
| 16 | Section 08, Michael B. Nash | DEF 14A | 2026-04-29 | 0001193125-26-191913 | Section “Director Compensation”. As printed: 210,000. Filing ↗machine: t159 · r16 · c11 · span 555056–555063 |
| 17 | Section 08, Jean Hsu | DEF 14A | 2026-04-29 | 0001193125-26-191913 | Section “Director Compensation”. As printed: 44,525. Filing ↗machine: t159 · r8 · c11 · span 549374–549380 |
| 18 | Section 08, Thomas E. Dobrowski | DEF 14A | 2026-04-29 | 0001193125-26-191913 | Section “Director Compensation”. As printed: 4,623. Filing ↗machine: t159 · r6 · c3 · span 547359–547364 |
| 19 | Section 08, Timothy S. Johnson | DEF 14A | 2026-04-29 | 0001193125-26-191913 | Section “Director Compensation”. As printed: 0. Filing ↗machine: t159 · r10 · c11 · span 550800–550807 |
| 20 | Section 08, Katharine A. Keenan | DEF 14A | 2026-04-29 | 0001193125-26-191913 | Section “Director Compensation”. As printed: 0. Filing ↗machine: t159 · r12 · c11 · span 552278–552285 |
| 21 | Section 08, F. Austin Peña | DEF 14A | 2026-04-29 | 0001193125-26-191913 | Section “Director Compensation”. As printed: 0. Filing ↗ |
| 22 | Section 02, Marcin Urbaszek 2026-06-17 | Form 4 | 2026-06-18 | 0001061630-26-000033 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 23 | Section 02, Fernando Austin Pena 2026-06-25 | Form 4 | 2026-06-29 | 0001061630-26-000047 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 24 | Section 02, Leonard W. Cotton 2026-06-26 | Form 4 | 2026-06-29 | 0001061630-26-000046 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 25 | Section 02, Henry N. Nassau 2026-06-26 | Form 4 | 2026-06-29 | 0001061630-26-000049 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 26 | Section 02, Lynne B. Sagalyn 2026-06-26 | Form 4 | 2026-06-29 | 0001061630-26-000045 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 27 | Section 02, Nnenna Lynch 2026-06-26 | Form 4 | 2026-06-29 | 0001061630-26-000043 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 28 | Section 02, Michael B. Nash 2026-06-26 | Form 4 | 2026-06-29 | 0001061630-26-000042 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 29 | Section 02, Jean Hsu 2026-06-26 | Form 4 | 2026-06-29 | 0001061630-26-000048 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 30 | Section 02, Gilda Perez-Alvarado 2026-06-26 | Form 4 | 2026-06-29 | 0001061630-26-000044 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 31 | Section 02, Fernando Austin Pena 2026-06-30 | Form 4 | 2026-07-01 | 0001061630-26-000051 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 32 | Section 02, Nnenna Lynch 2026-07-15 | Form 4 | 2026-07-16 | 0001061630-26-000061 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 33 | Section 02, Jean Hsu 2026-07-15 | Form 4 | 2026-07-16 | 0001061630-26-000058 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 34 | Section 02, Leonard W. Cotton 2026-07-15 | Form 4 | 2026-07-16 | 0001061630-26-000057 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 35 | Section 02, Henry N. Nassau 2026-07-15 | Form 4 | 2026-07-16 | 0001061630-26-000059 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 36 | Section 02, Lynne B. Sagalyn 2026-07-15 | Form 4 | 2026-07-16 | 0001061630-26-000060 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 37 | Section 06, 2026 vote | Form 8-K | 2026-06-26 | 0001193125-26-285668 | Item 5.07 · say-on-pay result. As reported: 93.56% (votes for as printed: 77,361,597). Filing ↗ |
| 38 | Section 06, 2025 vote | Form 8-K | 2025-06-27 | 0001193125-25-151408 | Item 5.07 · say-on-pay result. As reported: 94.53% (votes for as printed: 82,129,529). Filing ↗ |
| 39 | Section 06, 2024 vote | Form 8-K | 2024-06-24 | 0001193125-24-167054 | Item 5.07 · say-on-pay result. As reported: 94.54% (votes for as printed: 74,495,835). Filing ↗ |
| 40 | Section 01 trend, Δ column (computed) | Computed | — | computed | Δ = current-FY total − prior-FY total per named officer.machine: formula: Δ = FY(n) − FY(n−1) |
| 41 | Section 03b vehicle mix (computed) | Computed | — | computed | RSU / PSU / Options grant-date fair values summed per officer from the grants table; % performance-vested = PSU ÷ (RSU+PSU+Options).machine: formula: sums + PSU ratio |
| 42 | Section 09b board cost (computed) | Computed | — | computed | Cash 710,602 + equity 716,046 + all other 0 = 1,426,648, summed across the director compensation table rows.machine: formula: Σ = 1,426,648 |
| 43 | Blackstone Mortgage Trust, INC. (subject), Section 10b CEO total | DEF 14A | 2026-04-29 | 0001193125-26-191913 | CEO total compensation as printed in Blackstone Mortgage Trust, INC.'s own proxy. As printed: 1,130,503. Filing ↗machine: r4 · c27 · span 349508–349517 |