Blackstone Mortgage Trust Inc 2024年度报告

ANNUALREPORT PURSUANT TO SECTION 13 OR 15(d)OF THE SECURITIESEXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2024 orTRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIESEXCHANGE ACT OF 1934 For the transition period from toCommission file number 1-14788 Blackstone Mortgage Trust, Inc.(Exact name of Registrant as specified in its charter) Securities registered pursuant to Section 12(g) of the Act: None Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. YesNo Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act. YesNo Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of theSecurities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was requiredto file such reports), and (2) has been subject to such filing requirements for the past 90 days. YesNo Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to besubmitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for suchshorter period that the registrant was required to submit such files). YesNo Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, asmaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “acceleratedfiler,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act: If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transitionperiod for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of theExchange Act. Indicate by check mark whether the registrant has filed a report on and attestation to its management’s assessment of theeffectiveness of its internal control over financial reporting under Section 404(b) of the Sarbanes-Oxley Act (15 U.S.C.7262(b)) by the registered public accounting firm that prepared or issued its audit report.If securities are registered pursuant to Section 12(b) of the Act, indicate by check mark whether the financial statements ofthe registrant included in the filing reflect the correction of an error to previously issued financial statements.Indicate by check mark whether any of those error corrections are restatements that required a recovery analysis ofincentive-based compensation received by any of the registrant’s executive officers during the relevant recovery periodpursuant to §240.10D-1(b).Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Act). YesNoThe aggregate market value of the outstanding class A common stock held by non-affiliates of the registrant wasapproximately $2.9 billion as of June 28, 2024 (the last business day of the registrant’s most recently completed secondfiscal quarter) based on the closing sale price on the New York Stock Exchange on that date.As of February 5, 2025, there were 171,594,860 outstanding shares of class A common stock. DOCUMENTS INCORPORATED BY REFERENCE Part III of this annual report on Form 10-K incorporates information by reference from the registrant’s definitive proxystatement with respect to its 2025 annual meeting of stockholders to be filed with the Securities and Exchange Commissionwithin 120 days after the close of the registrant’s fiscal year. Table of Contents PART I. ITEM 1.BUSINESS3ITEM 1A.RISK FACTORS10ITEM 1B.UNRESOLVED STAFF COMMENTS58ITEM 1C.CYBERSECURITY59ITEM 2.PROPERTIES60ITEM 3.LEGAL PROCEEDINGS60ITEM 4.MINE SAFETY DISCLOSURES60PART II.ITEM 5.MARKET FOR REGISTRANT’S COMMON EQUITY, RELATEDSTOCKHOLDER MATTERS AND ISSUER PURCHASES OF EQUITYSECURITIES61ITEM 6.[Reserved]61ITEM 7.MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITIONAND RESULTS OF OPERATIONS62ITEM 7A.QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK95ITEM 8.FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA97ITEM 9.CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ONACCOUNTING AND FINANCIAL DISCLOSURE97ITEM 9A.CONTROLS AND PROCEDURES97ITEM 9B.OTHER INFORMATION98ITEM 9C.DISCLOSURE REGARDING FOREIGN JURISDICTIONS THAT PREVENTINSPECTIONS98PART III.ITEM 10.DIRECTORS, EXECUTIVE OFFICERS AND CORPORATE GOVERNANCE99 ITEM 11.EXECUTIVE COMPENSATION99ITEM 12.SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS ANDMANAGEMENT AND RELATED STOCKHOLDER MATTERS99ITEM 13.CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS, ANDDIRECTOR INDEPENDENCE99ITEM 14.PRINCIPAL ACCOUNTANT FEES AND SERVICES99PART IV.ITEM 15.EXHIBITS, FINANCIAL STATEMENT SCHEDULES100ITEM 16.FORM 10-K SUMMARY110SIGNATURES111INDEX TO CONSOLIDATED FINANCIAL STATEMENTS AND SCHEDULESF-1 Forward-Looking Information; Risk Factor Summary This Annual