Form 4: BlackRock Executive Awarded Restricted Stock Units

BlackRock's General Counsel and CLO, Christopher J. Meade, received 1,776 restricted stock units on January 16, 2025, as part of his compensation.

Summary

• Christopher J. Meade, General Counsel and CLO of BlackRock, Inc., was granted 1,776 restricted stock units on January 16, 2025.
• The award was valued at $1,775,000 and converted to stock units based on a share price of $999.36.
• The grant was approved by the Management Development and Compensation Committee on January 14, 2025.
• The restricted stock units will vest in equal installments on January 31, 2026, January 31, 2027, and January 31, 2028.
• Mr. Meade's total holdings include 10,212 shares of common stock and restricted stock units.

Sentiment

Score: 7

Explanation: The document reflects a routine executive compensation event, which is generally positive for aligning management and shareholder interests. There are no negative implications.

Positives

• The grant of restricted stock units aligns Mr. Meade's interests with the long-term performance of BlackRock.
• The vesting schedule encourages continued service and commitment from the executive.

Future Outlook

The restricted stock units will vest over the next three years, incentivizing the executive's continued performance.

Industry Context

The granting of restricted stock units is a common practice in executive compensation within the financial services industry, aligning executive interests with shareholder value.

Comparison to Industry Standards

• The use of restricted stock units is a standard practice for executive compensation at large financial institutions like BlackRock.
• Companies such as State Street and Vanguard also use similar equity-based compensation plans to incentivize their executives.
• The vesting schedule of three years is also typical, ensuring long-term commitment from the executive.
• The value of the award is consistent with the compensation packages of executives at similar levels within the industry.

Stakeholder Impact

• The granting of restricted stock units aligns the executive's interests with those of shareholders.
• The vesting schedule encourages long-term value creation for shareholders.

Key Dates

Keywords

Restricted Stock Units, BlackRock, Executive Compensation, Form 4, Christopher J. Meade, Stock Options, Equity Award