Form 4: BlackRock Director Kristin C. Peck Acquires Restricted Stock Units

BlackRock director Kristin C. Peck was granted 250 restricted stock units on January 16, 2025, which will vest at the 2025 Annual Meeting of Shareholders.

Summary

• Kristin C. Peck, a director at BlackRock, Inc., acquired 250 restricted stock units on January 16, 2025.
• These units were granted under the Third Amended and Restated BlackRock, Inc. 1999 Stock Award and Incentive Plan.
• The grant price was based on $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. Peck's election or re-election at the 2025 Annual Meeting of Shareholders.
• The units will be settled in shares of common stock on the third anniversary of the grant date, unless Ms. Peck elects to receive them upon ceasing to be a board member.

Sentiment

Score: 7

Explanation: The document reflects a routine transaction of equity compensation for a director, which is a normal and expected practice. It is neither particularly positive nor negative.

Positives

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

Future Outlook

The restricted stock units will vest at the 2025 Annual Meeting of Shareholders and will be settled in shares of common stock on the third anniversary of the grant date, 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.
• Companies such as State Street and Vanguard also use similar equity-based compensation plans for their board members.
• The vesting period of three years is also typical, encouraging long-term commitment from directors.

Stakeholder Impact

• Shareholders are likely to view this as a standard practice that aligns director interests with their own.
• The grant of restricted stock units is a form of compensation for the director.

Next Steps

• The restricted stock units will vest at the 2025 Annual Meeting of Shareholders.
• The shares will be settled three years after the grant date, or upon Ms. Peck leaving the board.

Key Dates

Keywords

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