Sec Form 4 Filing - JAMES HAMILTON E @ Blackstone Inc - 2021-12-03

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

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, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940

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1. Name and Address of Reporting Person JAMES HAMILTON E 2. Issuer Name and Ticker or Trading Symbol Blackstone 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 (Last) (First) (Middle) C/O BLACKSTONE INC., 345 PARK AVENUE 3. Date of Earliest Transaction (MM/DD/YY) 12/03/2021 (Street) NEW YORK, NY10154 4. If Amendment, Date Original Filed (MM/DD/YY) 6. Individual or Joint/Group Filing (Check Applicable Line) __ X __ Form filed by One Reporting Person _____ Form filed by More than One Reporting Person (City) (State) (Zip)

2,250,000 Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned 1.Title of Security (Instr. 3) 2. Transaction Date (MM/DD/YY) 2A. Deemed Execution Date, if any (MM/DD/YY) 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 Common Stock 12/03/2021 C( 1 ) 3,074,349 A $ 0 3,074,349 D Common Stock 12/07/2021 S 1,803,281 D $ 134.45( 2 ) 1,271,068 D Common Stock 12/07/2021 S 1,271,068 D $ 134.45( 3 ) 0 D Common Stock 12/03/2021 C( 4 ) 3,650,000 A $ 0 3,650,000 I See footnote( 5 ) Common Stock 12/07/2021 S 2,140,934 D $ 134.45( 2 ) 1,509,066 I See footnote( 5 ) Common Stock 12/07/2021 S 1,509,066 D $ 134.45( 3 ) 0 I See footnote( 5 ) Common Stock 12/03/2021 C( 6 ) 2,250,000 A $ 0 I See footnote( 7 ) Common Stock 12/07/2021 S 1,319,754 D $ 134.45( 2 ) 930,246 I See footnote( 7 ) Common Stock 12/07/2021 S 930,246 D $ 134.45( 3 ) 0 I See footnote( 7 ) Common Stock 12/07/2021 S 12,023 D $ 134.45( 2 ) 8,474 I See footnote( 8 ) Common Stock 12/07/2021 S 8,474 D $ 134.45( 3 ) 0 I See footnote( 8 )

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 (MM/DD/YY) 3A. Deemed Execution Date, if any (MM/DD/YY) 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 (MM/DD/YY) 7. Title and Amount of Underlying Securities (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 of Derivative Security: 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 ( 9 ) 12/03/2021 C( 1 ) 3,074,349 ( 9 ) ( 9 ) Common Stock 3,074,349 ( 9 ) 14,648,744 D Blackstone Holdings partnership units ( 9 ) 12/03/2021 C( 4 ) 3,650,000 ( 9 ) ( 9 ) Common Stock 3,650,000 ( 9 ) 857,207 I See footnote( 5 ) Blackstone Holdings partnership units ( 9 ) 12/03/2021 C( 6 ) 2,250,000 ( 9 ) ( 9 ) Common Stock 2,250,000 ( 9 ) 550,000 I See footnote( 7 )

Reporting Owners Reporting Owner Name / Address Relationships Director 10% Owner Officer Other JAMES HAMILTON E C/O BLACKSTONE INC. 345 PARK AVENUE NEW YORK, NY10154 X Executive Vice Chairman Signatures Tabea Hsi as Attorney-In-Fact 12/07/2021 Signature of Reporting Person Date

Explanation of Responses:

( 1 )Pursuant to an exchange agreement, the Reporting Person exchanged 3,074,349 Blackstone Holdings partnership units (as defined below) for an equal number of shares of Common Stock of Blackstone Inc. ( 2 )Represents a sale of common stock pursuant to a block trade at a price of $134.45 per share. ( 3 )Represents a repurchase of shares of common stock by the Issuer from the Reporting Person and certain trusts and limited liability company for the benefit of the Reporting Person's family for a price of $134.45 per share, the same price at which such sellers sold shares in the block trade referenced in footnote 2 above. ( 4 )Pursuant to an exchange agreement, 3,650,000 Blackstone Holdings partnership units (as defined below) were exchanged for an equal number of shares of Common Stock of Blackstone Inc. ( 5 )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. ( 6 )Pursuant to an exchange agreement, 2,250,000 Blackstone Holdings partnership units (as defined below) were exchanged for an equal number of shares of Common Stock of Blackstone Inc. ( 7 )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. ( 8 )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. ( 9 )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 Common Stock of Blackstone 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.

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).

** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).

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