BXMT BLACKSTONE MORTGAGE TRUST, INC.

Did the company actually spend money buying back stock in 3+ of the last 4 quarters?

Bought back stock in 2/4 quarters. Q1 2026: $32M, Q3 2025: $11M, Q2 2025: $0M, Q1 2025: $0M

Is the most recent quarter's buyback spend more than 15% above the trailing average?

Latest quarter $32M vs trailing avg $4M (+763%)

What percentage of free cash flow is going to buybacks? Bull: 30%+. Bear: negative FCF or no buybacks.

Negative FCF ($-768M), buybacks not supported by cash flow

How fast are they shrinking the float? Bull: 2%+ annually. Bear: under 0.5%.

Repurchased 672,649 shares = 0.4% of 168,259,023 outstanding (annualized)

Are officers and directors buying stock with their own money on the open market?

No insider open-market purchases in the last 12 months

Are both company buybacks and insider buying independently active? Bull when the company is buying back stock in 2+ quarters and insiders have made 2+ open-market purchases.

Need both buyback and insider purchase data

Over the last 90 days, are insiders net buyers or net sellers on the open market?

Insiders bought $0M, sold $0M in the last 90 days (net selling)

Active buyback + insiders net selling 3x+ more than buying. Company cash may be supporting price while insiders exit.

Company buying back stock while insiders sold 540703.0x more than bought. 4 C-suite officers among sellers

• Pena Fernando Austin (President) sold 1,666 shares on 2026-03-31
• URBASZEK MARCIN (Chief Financial Officer) sold 452 shares on 2026-03-17
• Pena Fernando Austin (President) sold 3,131 shares on 2025-12-31
• URBASZEK MARCIN (Deputy Chief Financial Officer) sold 400 shares on 2025-12-17
• Marone Anthony F. JR (Chief Financial Officer) sold 1,012 shares on 2025-12-17
• Marone Anthony F. JR (Chief Financial Officer) sold 506 shares on 2025-12-01
• Marone Anthony F. JR (Chief Financial Officer) sold 1,006 shares on 2025-09-17
• Keenan Katharine A (CEO & President) sold 4,593 shares on 2025-09-17
• URBASZEK MARCIN (Deputy Chief Financial Officer) sold 398 shares on 2025-09-17
• Marone Anthony F. JR (Chief Financial Officer) sold 506 shares on 2025-09-02