Form 4: BlackRock Director Murry Gerber Acquires Restricted Stock Units

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

Summary

• Murry Gerber, a director at BlackRock, Inc., received 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 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 Mr. Gerber's 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 Mr. Gerber elects to receive them earlier upon leaving the board.

Sentiment

Score: 7

Explanation: The document reflects a routine transaction related to director compensation, which is generally viewed neutrally to slightly positive as it aligns director interests with shareholders.

Positives

• The grant of restricted stock units aligns the director's interests with those of the shareholders.
• The vesting schedule encourages continued service on the board.

Future Outlook

The restricted stock units will vest at the 2025 Annual Meeting of Shareholders and settle three years after the grant date, unless an earlier election is made.

Industry Context

This type of stock grant is a common practice for compensating non-employee directors in publicly traded companies, aligning their interests with those of shareholders.

Comparison to Industry Standards

• The use of restricted stock units for director compensation is a standard practice among large publicly traded companies like BlackRock.
• Companies such as State Street and Invesco also use similar equity-based compensation plans for their directors.
• The vesting period and settlement terms are also typical for these types of grants, often tied to continued service and board meetings.

Stakeholder Impact

• The grant of restricted stock units aligns the director's interests with those of the shareholders.
• The vesting schedule encourages continued service on the board, which benefits the company and its stakeholders.

Next Steps

• The restricted stock units will vest at the 2025 Annual Meeting of Shareholders.
• The shares will be settled on the third anniversary of the grant date, unless an earlier election is made.

Key Dates

Keywords

BlackRock, restricted stock units, director compensation, stock award, Murry Gerber, corporate governance