Form 4: BlackRock CFO Martin Small Awarded Restricted Stock Units
SEC Form 4 Filing
BlackRock's CFO, Martin Small, received 2,627 restricted stock units as part of his compensation, vesting over three years.
Summary
- Martin Small, the CFO of BlackRock, Inc., was granted 2,627 restricted stock units on January 16, 2025.
- The award was valued at $2,625,000, with the number of units determined by dividing the award value by the average stock price of $999.36 on the grant date.
- These restricted stock units will vest in equal installments on January 31, 2026, January 31, 2027, and January 31, 2028.
- Following this transaction, Mr. Small beneficially owns 7,886.4148 shares of BlackRock common stock, including previously granted restricted stock units.
Sentiment
Score: 7
Explanation: The document reflects a routine executive compensation practice, which is generally viewed positively as it aligns management with shareholder interests. There are no negative implications.
Positives
- The grant of restricted stock units aligns the CFO's interests with the long-term performance of the company.
- The vesting schedule encourages continued service and commitment from the CFO.
Future Outlook
The restricted stock units will vest over the next three years, incentivizing the CFO's continued performance and alignment with shareholder interests.
Industry Context
The granting of restricted stock units is a common practice in executive compensation, particularly in the financial services industry, to align management's interests with those of shareholders and to retain key talent.
Comparison to Industry Standards
- The use of restricted stock units as part of executive compensation is standard practice among large financial institutions like BlackRock.
- Companies such as State Street and Vanguard also use similar equity-based compensation plans for their executives.
- The vesting schedule of three years is also typical, aligning with long-term performance goals.
Stakeholder Impact
- Shareholders may view this as a positive sign of aligning management's interests with the company's long-term performance.
- Employees may see this as a standard practice for executive compensation.
Key Dates
| Date | Description |
|---|---|
| 10/01/2024 | BlackRock, Inc. became the successor issuer to BlackRock Finance, Inc. following an internal reorganization. |
| 01/14/2025 | The Management Development and Compensation Committee approved the restricted stock unit grant. |
| 01/16/2025 | Date of the restricted stock unit grant to Martin Small. |
| 01/17/2025 | Date of filing of the SEC Form 4. |
| 01/31/2026 | First vesting date for the restricted stock units. |
| 01/31/2027 | Second vesting date for the restricted stock units. |
| 01/31/2028 | Third and final vesting date for the restricted stock units. |
Keywords
BlackRock, Martin Small, Restricted Stock Units, CFO, Compensation, Equity Award, Vesting
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