Form 4: BlackRock Executive Todd Burnside Reports Stock Transactions
SEC Form 4 Filing
Todd Burnside, a Portfolio Manager at BlackRock Enhanced Large Cap Core Fund, reports the vesting and disposal of phantom shares and the disposal of common stock on January 31, 2025.
Summary
- On January 31, 2025, Todd Burnside, a Portfolio Manager at BlackRock Enhanced Large Cap Core Fund, engaged in transactions involving the company's stock.
- Burnside disposed of 1,684.3066 shares of common stock at a price of $20.79.
- He also vested phantom shares, which are economic equivalents of common stock payable in cash, and disposed of them.
- Specifically, 499.7966 phantom shares from a January 31, 2024 grant, 499.0963 phantom shares from a January 31, 2023 grant, and 685.4137 phantom shares from a January 31, 2022 grant vested and were disposed of.
- Following these transactions, Burnside directly owns 0 shares of common stock and 499.0963 phantom shares.
Sentiment
Score: 5
Explanation: The document is a standard regulatory filing detailing stock transactions. It doesn't inherently convey positive or negative sentiment, but rather reports factual information.
Industry Context
This filing is a routine disclosure related to executive compensation and stock ownership, common in the financial services industry. It reflects the vesting schedule of previously granted equity awards.
Comparison to Industry Standards
- Equity compensation, including phantom shares, is a common practice in the asset management industry to align executive incentives with shareholder value.
- BlackRock, like other major asset managers such as Vanguard, State Street, and Fidelity, uses equity-based compensation as part of its overall remuneration strategy.
- The vesting schedules and terms of these grants are generally consistent with industry norms, typically vesting over a three-year period.
Stakeholder Impact
- The transactions have a minimal direct impact on stakeholders, as they primarily reflect internal compensation arrangements.
- The filing provides transparency to shareholders regarding executive stock ownership.
Key Dates
| Date | Description |
|---|---|
| January 31, 2022 | Grant date of phantom shares vesting in equal installments over three years. |
| February 3, 2022 | Previous Form 4 filing date related to phantom shares granted on January 31, 2022. |
| January 31, 2023 | Grant date of phantom shares vesting in equal installments over three years. |
| February 2, 2023 | Previous Form 4 filing date related to phantom shares granted on January 31, 2023. |
| January 31, 2024 | Grant date of phantom shares vesting in equal installments over three years. |
| February 2, 2024 | Previous Form 4 filing date related to phantom shares granted on January 31, 2024. |
| January 31, 2025 | Date of reported transactions: vesting and disposal of phantom shares and disposal of common stock. |
| February 4, 2025 | Date of Form 4 filing. |
Keywords
Form 4, BlackRock, Todd Burnside, phantom shares, stock disposal, Portfolio Manager, CII
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