Form 4: BlackRock Director Cheryl D. Mills Acquires 250 Restricted Stock Units

Director Cheryl D. Mills acquired 250 restricted stock units of BlackRock, Inc. on January 16, 2025, which will vest upon her re-election at the 2025 Annual Meeting of Shareholders.

Summary

• Cheryl D. Mills, a director at BlackRock, Inc., acquired 250 restricted stock units on January 16, 2025.
• These units were granted under the company's 1999 Stock Award and Incentive Plan.
• The value of the units was based on a price of $999.36 per share, which was the average of the high and low price of BlackRock's common stock on that day.
• The restricted stock units will vest upon Ms. Mills' election or re-election at the 2025 Annual Meeting of Shareholders.
• The shares will be settled on the third anniversary of the grant date, unless Ms. Mills elects to receive them upon ceasing to be a board member.
• Settlement upon leaving the board can be in a lump sum or in five equal annual installments.

Sentiment

Score: 7

Explanation: The document reflects a routine transaction of equity compensation for a director, which is generally viewed positively as it aligns interests. There are no indications of any negative issues.

Positives

• The grant of restricted stock units aligns the director's interests with those of the shareholders.
• The vesting schedule encourages long-term commitment from the director.

Future Outlook

The restricted stock units will vest upon the director's election or re-election at the 2025 Annual Meeting of Shareholders and will be settled in shares of Common Stock on the third anniversary of the date of grant, unless the director has elected to receive settlement of such shares on the date that he or she ceases to be a member of the Board.

Industry Context

This is a standard practice for compensating non-employee directors at publicly traded companies, aligning their interests with those of shareholders.

Comparison to Industry Standards

• Granting restricted stock units to directors is a common practice among large publicly traded companies like BlackRock.
• The vesting schedule, tied to the annual meeting and a three-year settlement period, is typical for director equity compensation.
• Companies such as State Street and Vanguard also use similar equity-based compensation for their board members.

Stakeholder Impact

• The grant of restricted stock units aligns the director's interests with those of the shareholders.
• The vesting schedule encourages long-term commitment from the director.

Next Steps

• The restricted stock units will vest upon the director's election or re-election at the 2025 Annual Meeting of Shareholders.
• The shares will be settled three years after the grant date or upon the director leaving the board.

Key Dates

Keywords

BlackRock, restricted stock units, director, equity compensation, stock award, corporate governance, shareholder meeting