Scott Mathias
About Scott Mathias
Scott Mathias is Chief Compliance Officer and Secretary of Blackstone Mortgage Trust (BXMT) and a Managing Director and Co‑Chief Compliance Officer of Blackstone Real Estate; he has served in the BXMT roles since April 2024 and is age 46 as of April 30, 2025 . He previously was an associate in Simpson Thacher & Bartlett LLP’s Private Funds group; he holds a BBA in Marketing and Psychology from the University of Wisconsin–Madison and a JD from NYU School of Law, graduating cum laude . BXMT’s recent performance context during his tenure: the company reported 2024 net loss and negative distributable earnings amid sector stress, with cumulative TSR value of $78 for a $100 initial investment, while prior years showed stronger net income and distributable earnings .
| Metric | 2020 | 2021 | 2022 | 2023 | 2024 |
|---|---|---|---|---|---|
| Total Shareholder Return ($ value of $100 initial) | 82 | 99 | 75 | 85 | 78 |
| Net Income ($USD Millions) | 137.7 | 419.2 | 248.6 | 246.6 | (204.1) |
| Distributable Earnings ($USD Millions) | 352.0 | 396.7 | 489.8 | 526.3 | (5.5) |
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Blackstone Mortgage Trust (BXMT) | Chief Compliance Officer & Secretary | Apr 2024–present | Oversees disclosure controls, securities filings and compliance for BXMT; frequently signs 8‑Ks on behalf of BXMT |
| Simpson Thacher & Bartlett LLP | Associate, Private Funds Group | Pre‑2016–2016 (joined Blackstone in 2016) | Advised large private equity and hedge fund sponsors on fund formation and compliance |
External Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Blackstone Real Estate | Managing Director & Co‑Chief Compliance Officer | Not disclosed (joined Blackstone in 2016) | Co‑leads compliance across Blackstone’s global real estate platform (839 professionals, $315.4B investor capital as of 12/31/2024) |
| BXMT Advisors L.L.C. (Manager) | Chief Compliance Officer | Not disclosed | Oversees Manager’s compliance for externally managed structure underpinning BXMT |
Fixed Compensation
- BXMT does not pay cash salaries or bonuses to executive officers; compensation is determined and paid by affiliates of the external Manager (Blackstone) . For 2024, affiliates of the Manager paid BXMT’s Named Executive Officers (NEOs) an aggregate $2.4 million in base salary, bonus and incentive fee participation (3.0% of management and incentive fees paid to the Manager); this excludes Blackstone equity and other non‑BXMT items .
- BXMT has no employment agreements, pensions, perquisites, or severance/change‑in‑control payments for NEOs; BXMT does not make cash payments to executives upon termination or change‑in‑control .
- Scott Mathias’s BXMT‑specific cash compensation is not disclosed; as an employee of Blackstone affiliates, his cash compensation is set under Blackstone’s compensation philosophy emphasizing performance‑based pay .
Performance Compensation
BXMT’s executive equity program is approved by the Compensation Committee and primarily uses restricted Class A stock; awards have vesting designed for retention and alignment. No BXMT equity awards to Scott Mathias are disclosed in the latest proxy; illustrative NEO grants and terms appear below.
| Incentive Type | Metric | Weighting | Target | Actual/Payout | Vesting Terms |
|---|---|---|---|---|---|
| Restricted Stock (NEO example: 2024 grants) | Discretionary based on Company and individual performance (no numerical weights) | Not disclosed | Not disclosed | 51,850 shares to CEO; 12,000 shares to CFO (grant‑date fair value $990,854 and $229,320) | 1/6 vests at 6 months + 1 day post grant; remainder in equal quarterly tranches over 10 quarters after initial vest |
| Stock Options | Not utilized historically | — | — | — | BXMT has not historically used stock options |
| Retirement Vesting Policy | N/A | — | — | Case‑by‑case up to 50% of unvested equity may continue vesting upon qualifying retirement | Eligibility requires age/service thresholds; continued vesting per original schedule |
Notes: Compensation Committee engages independent consultant (FPL Associates) to size the annual equity pool; say‑on‑pay approval was ~95% in 2024, indicating broad shareholder support .
Equity Ownership & Alignment
- Beneficial ownership for Scott Mathias is not individually disclosed in the proxy’s security ownership table; directors/NEOs are shown, and all executive officers and directors as a group held 1,755,465 shares (1.02%) as of April 14, 2025 .
- Hedging and trading policies: BXMT prohibits day trading, arbitrage trading, short sales, buying on margin, and use of derivatives (forwards, swaps, collars, exchange funds, puts/calls) that hedge or offset declines in BXMT stock value .
- Pledging: No explicit pledging disclosure; the policy’s margin and derivatives prohibitions reduce hedging/pledging risk signals .
- Director stock ownership guidelines require non‑employee directors to own at least 5x annual cash retainer within five years; all are in compliance. No executive stock ownership guideline disclosure for officers .
Employment Terms
- Start date and tenure: Scott Mathias has served as BXMT Chief Compliance Officer and Secretary since April 2024 .
- Contracts: BXMT does not have employment agreements with NEOs and does not provide severance or change‑in‑control benefits; no Scott‑specific contract terms disclosed .
- Management Agreement: BXMT is externally managed; the agreement auto‑renews annually after December 19, 2024 unless terminated, reinforcing that personnel cash compensation is set by Blackstone affiliates rather than BXMT .
- Non‑compete, non‑solicit, garden leave, clawbacks: Not disclosed in BXMT filings for executives; equity plan dividend/withholding mechanics are disclosed generally .
Investment Implications
- Alignment: Mathias’s role sits within Blackstone Real Estate compliance and BXMT’s Manager, implying incentive alignment is primarily through Blackstone’s performance‑linked compensation rather than BXMT‑specific cash pay; BXMT’s equity program is discretionary and focused on CEO/CFO awards, with vesting schedules that temper near‑term selling pressure .
- Insider signals: No Form 3/4 activity is reported for Mathias in retrieved filings; multiple 8‑Ks bear his signature as CCO, but trading‑pressure signals are limited by hedging/margin prohibitions .
- Retention risk: Absence of BXMT employment agreements and severance suggests limited BXMT‑specific retention economics; retention likely anchored by Blackstone career trajectory and responsibilities across the broader platform .
- Governance confidence: Strong say‑on‑pay (95%) and independent consultant oversight support disciplined equity pooling; lack of options and strict trading policies reduce red‑flag risk around opportunistic hedging/derivative use .
Overall, Scott Mathias appears as a compliance heavyweight embedded within Blackstone Real Estate, with BXMT‑specific compensation disclosures minimal and no reported insider selling activity; trading signals tied directly to his incentives are limited, while BXMT’s equity grant structures and strict trading policies point to long‑term alignment and low hedging risk at the officer level .