Timothy Hayes
About Timothy Hayes
Timothy Hayes is Vice President, Shareholder Relations at Blackstone Mortgage Trust (BXMT) and a Principal within Blackstone Real Estate Debt Strategies (BREDS); he has served in this role since February 2023 and was 34 years old as of April 30, 2025 . He previously worked as a sell-side equity analyst covering real estate and mortgage finance and holds a B.S.B.A. from the Robins School of Business at the University of Richmond . For context on company performance during his tenure, BXMT’s cumulative TSR for a fixed $100 investment from 12/31/2019 to 12/31/2024 was $78.49 versus $79.62 for the FTSE NAREIT Mortgage REITs Index; the company-selected performance metric in pay-versus-performance disclosure is Distributable Earnings . Hayes is actively involved in investor communications, hosting the Q1 2025 earnings call introduction and disclosures .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| BTIG | Sell-side equity analyst (real estate and mortgage finance coverage) | Nov 2020 – Feb 2022 | Coverage of real estate and mortgage finance sectors . |
| B. Riley FBR | Sell-side equity analyst (real estate and mortgage finance coverage) | Jul 2014 – Oct 2020 | Coverage of real estate and mortgage finance sectors . |
| Edmunds White Partners | Analyst (small-cap investment advisor) | Not disclosed | Buy-side analytical experience at a small-cap investment advisor . |
External Roles
No public company directorships or external board roles disclosed for Hayes .
Fixed Compensation
| Component | 2024/Most Recent Disclosure | Notes |
|---|---|---|
| Base salary | Not disclosed | BXMT is externally managed; the company does not pay cash compensation to its Named Executive Officers and has no employees. Compensation for personnel providing services (including Hayes) is paid by Blackstone affiliates; amounts for non-NEOs like Hayes are not disclosed by BXMT . |
| Target bonus % | Not disclosed | Determined by Blackstone affiliates; not disclosed by BXMT for non-NEOs . |
| Actual bonus | Not disclosed | Not disclosed by BXMT for non-NEOs . |
Performance Compensation
| Item | Plan design / Detail | Relevance to Hayes |
|---|---|---|
| Equity awards (BXMT Stock Plan) | BXMT may grant equity-based awards (RSAs, RSUs, options, SARs) to align executives with shareholders; NEO RSA grants in 2024 vested 1/6 at six months +1 day and the remainder quarterly over 10 quarters . | Hayes is not a Named Executive Officer; no individual grants to him are disclosed . |
| Annual equity allocation to affiliate employees | BXMT makes annual equity awards to executive officers and an annual grant allocated by the CEO to employees of affiliates of the Manager who perform services to BXMT, to create further alignment . | As a BREDS Principal focused on BXMT shareholder relations, Hayes could be eligible via the affiliate-employee allocation, but no amounts are disclosed . |
| Retirement vesting policy | For qualifying retirements, up to 50% of unvested equity may continue vesting on original terms; case-by-case, with delegated determinations per policy . | Policy-level feature; no Hayes-specific application disclosed . |
| Hedging/short-term trading | Policy prohibits short sales, day trading, buying on margin, and use of derivatives/hedges (for all covered persons, including officers of affiliates providing services to BXMT) . | Reduces risk of hedging or short-term trading by insiders, mitigating misalignment . |
Equity Ownership & Alignment
| Topic | Status | Evidence |
|---|---|---|
| Total beneficial ownership (shares) | Not disclosed | BXMT’s beneficial ownership table lists >5% holders, directors and Named Executive Officers; Hayes is a senior officer but not a director or NEO, so no individual line item is provided . |
| Ownership as % of shares outstanding | Not disclosed | Not provided for non-NEOs . |
| Vested vs unvested shares | Not disclosed | Not provided for Hayes; NEO outstanding award detail is provided separately . |
| Pledging | Not specifically disclosed | Trading policy prohibits short sales, buying on margin, and various derivatives; pledging is not expressly referenced in the cited sections . |
| Stock ownership guidelines | Non-employee directors must own 5x annual cash retainer within 5 years; no executive guideline disclosed by BXMT . | Director-only policy; none disclosed for Hayes . |
Employment Terms
| Item | Status | Evidence |
|---|---|---|
| Employer of record | Blackstone/Manager (BXMT has no employees; executives are senior BREDS professionals) . | Hayes is a Principal in BREDS and serves BXMT as VP, Shareholder Relations . |
| Start date in current role | February 2023 | Disclosed title and start date . |
| Employment agreement, term, severance | Not disclosed by BXMT for Hayes | BXMT notes it does not have employment agreements with NEOs and pays no cash compensation; no individual employment terms for Hayes are disclosed . |
| Change-of-control treatment | Not disclosed for Hayes | Company-level retirement vesting policy exists; no Hayes-specific CIC provisions disclosed . |
| Management Agreement (company-level) | Term expires Dec 19, 2025; auto-renews annually; Manager base fee 1.50% of Equity (min $250k) plus potential incentive fee; reimbursements permitted . | Governs external management of BXMT; indirectly frames personnel arrangements for affiliate employees like Hayes . |
Performance & Track Record
| Category | Detail | Evidence |
|---|---|---|
| Investor relations execution | Hayes hosted the Q1 2025 earnings call introduction and disclosures; Q1 2025 results cited included DE of $0.17/sh and dividend of $0.47/sh (context for his IR function) . | Demonstrates role in investor communications . |
| Company TSR context | Value of initial fixed $100 (12/31/2019 → 12/31/2024): BXMT $78.49; FTSE NAREIT Mortgage REITs Index $79.62 . | Company-level TSR during his period; not individually attributable . |
| Pay-versus-performance selected metric | Company-selected metric is Distributable Earnings in Item 402(v) disclosure . | Metric context for performance discussions . |
| Say-on-pay support (context) | ~95% approval at 2024 annual meeting . | Signals general shareholder support for pay program design . |
Investment Implications
- Transparency: Hayes is a senior officer (not a director/NEO), so BXMT does not disclose his cash compensation, individual equity grants, or beneficial ownership—limiting visibility into his direct pay-for-performance alignment .
- Alignment mechanisms: BXMT’s program includes potential equity awards both to executive officers and to affiliate employees who perform services (allocated by the CEO), plus strict prohibitions on hedging, short sales, and derivatives—supporting alignment while reducing insider selling/hedging risk; however, no Hayes-specific awards are disclosed .
- Retention risk: Hayes is employed by Blackstone (BREDS); compensation is determined by Blackstone’s frameworks and firm/business unit performance, not BXMT alone—suggesting retention levers are primarily at the Manager level rather than through BXMT-specific contracts; no individual severance/CIC economics are disclosed for Hayes .
- Governance and communication: Hayes is the day-to-day IR face in earnings communications, which is strategically important for market confidence; company-level TSR and Distributable Earnings context indicate the investor narrative he supports .
Sources: BXMT 2025 DEF 14A; sections cited above ; Q1 2025 earnings call transcript .