Form 4: BlackRock COO Robert Goldstein Reports Changes in Beneficial Ownership
SEC Form 4 Filing
BlackRock's Chief Operating Officer, Robert Goldstein, reports acquisition and disposal of company stock and restricted stock units related to incentive plans and tax obligations.
Summary
- Robert Goldstein, BlackRock's COO, filed a Form 4 detailing changes in his beneficial ownership of BlackRock stock.
- On January 31, 2025, Goldstein acquired 2,971 shares of common stock related to a 2021 BlackRock Performance Incentive Plan award.
- These shares were converted from 6,910 Restricted Stock Units (RSUs) based on the average stock price on January 18, 2022, which was $832.07.
- The vesting RSUs represent 43% of the original award due to performance metrics.
- On the same day, Goldstein disposed of 3,206 shares to cover tax obligations related to the vesting of awards under the company's stock award and incentive plan at a price of $1,071.52.
- Following these transactions, Goldstein directly owns 44,330 shares of common stock and RSUs and indirectly owns 9,435 shares through a family trust.
Sentiment
Score: 5
Explanation: The document is a routine regulatory filing, so the sentiment is neutral. It simply reports transactions without expressing any positive or negative outlook.
Industry Context
Form 4 filings are standard practice for corporate insiders to report changes in their ownership of company stock, providing transparency to investors.
Comparison to Industry Standards
- Form 4 filings are a regulatory requirement for corporate insiders in the US, ensuring transparency in stock ownership.
- Similar filings are made by executives at companies like State Street and Vanguard, reflecting their individual stock transactions.
- The details disclosed, such as the number of shares bought or sold and the prices involved, are consistent with the level of information required in such filings across the financial industry.
Stakeholder Impact
- The filing provides transparency to shareholders regarding the stock transactions of a key executive.
- It assures stakeholders that executive compensation is tied to company performance through incentive plans.
Key Dates
| Date | Description |
|---|---|
| 01/18/2022 | Date used to calculate the conversion of the 2021 BlackRock Performance Incentive Plan award to Restricted Stock Units, based on an average stock price of $832.07. |
| 01/31/2025 | Date of the reported transactions: acquisition of shares from incentive plan and disposal of shares for tax obligations. |
| 02/04/2025 | Date of the Form 4 filing. |
Keywords
BlackRock, Robert Goldstein, beneficial ownership, Form 4, stock, restricted stock units, incentive plan, tax obligations
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