Form 4: BlackRock Director Susan Wagner Receives Stock Units

BlackRock director Susan Wagner was granted 250 restricted stock units on January 16, 2025, as part of the company's stock award and incentive plan.

Summary

• Susan Wagner, 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 Ms. Wagner'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 Ms. Wagner 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 positively as it aligns interests. There are no negative implications.

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.
• Companies such as State Street and Vanguard also use similar equity-based compensation plans for their board members.
• The vesting schedules and settlement terms are generally consistent with industry norms, often tied to board service and long-term value creation.

Stakeholder Impact

• Shareholders may view this as a positive as it aligns director interests with long-term company performance.
• The grant of stock units is part of the overall compensation package for 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 on the third anniversary of the grant date, unless Ms. Wagner elects to receive them earlier upon leaving the board.

Key Dates

Keywords

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