X0306 4 2019-07-01 0 0001393818 Blackstone Group Inc BX 0001408583 Solotar Joan C/O THE BLACKSTONE GROUP 345 PARK AVENUE NEW YORK NY 10154 0 1 0 0 SMD, PWS & External Relations Blackstone Holdings partnership units 2019-07-01 4 A 0 34250 0.00 A Class A Common Stock 34250 512540 D Blackstone Holdings partnership units Class A Common Stock 55211 55211 I See footnote Blackstone Holdings partnership units Class A Common Stock 55211 55211 I See footnote 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 at any time prior to December 31, 2019 other than pursuant to transactions or programs approved by Blackstone. Granted under the Amended and Restated 2007 Equity Incentive Plan, 20% of these deferred restricted Blackstone Holdings partnership units, or 6,850 units, will vest on July 1, 2022; an additional 30%, or 10,275 units, will vest on July 1, 2023; and the remaining 50%, or 17,125 units, will vest on July 1, 2024. As these deferred restricted Blackstone Holdings partnership units vest, the underlying Blackstone Holdings partnership units will be delivered to the Reporting Person, except that 1/4 of the vested units will be held back and delivered on a future date pursuant to the terms of the Reporting Person's award agreement. Notwithstanding the foregoing, the units may be delivered earlier upon a change in control of Blackstone. Such Blackstone Holdings partnership units are held in trusts for the benefit of the Reporting Person's children, over which the Reporting Person has investment power. On July 1, 2019, The Blackstone Group L.P., a Delaware limited partnership, converted into a Delaware corporation named The Blackstone Group Inc. As a result of such conversion, each common unit of limited partner interest of The Blackstone Group L.P. converted into a share of Class A common stock of The Blackstone Group Inc. The Reporting Person disclaims beneficial ownership of the securities reported on this form except to the extent of her pecuniary interest. Tabea Y. Hsi as Attorney-In-Fact 2019-07-03