Form 4: BlackRock Executive J. Richard Kushel Reports Changes in Beneficial Ownership
SEC Form 4 Filing
Senior Managing Director J. Richard Kushel reports changes in BlackRock, Inc. stock ownership due to vesting of restricted stock units and tax obligation fulfillment.
Summary
- J. Richard Kushel, a Senior Managing Director at BlackRock, Inc., filed a Form 4 detailing changes in his beneficial ownership of the company's stock.
- On January 31, 2025, Kushel acquired 1,886 shares of common stock related to a 2021 BlackRock Performance Incentive Plan award.
- These shares were converted from Restricted Stock Units (RSUs) based on the average high and low price per share of common stock on January 18, 2022, which was $832.07.
- The vesting RSUs represent 43% of the original award due to adjustments based on company performance metrics.
- Also on January 31, 2025, 2,285 shares were withheld by BlackRock to satisfy tax obligations related to the vesting of awards under the company's stock award and incentive plan.
- Following these transactions, Kushel directly owns 68,034.34 shares of BlackRock common stock.
- Kushel also indirectly owns shares through family trusts, including 26,153 shares, 1,000 shares, 1,000 shares, 45,000 shares via The Kushel Family 2011 Dynasty Trust, and 4,150 shares via The Kushel Family 2018 Trust.
Sentiment
Score: 5
Explanation: The document is a standard regulatory filing, so the sentiment is neutral. It simply reports transactions without expressing any positive or negative outlook.
Industry Context
Form 4 filings are standard disclosures required by the SEC to provide transparency into the transactions of company insiders, allowing investors to monitor potential alignment of interests between management and shareholders.
Stakeholder Impact
- The filing provides transparency to shareholders regarding insider transactions, which can influence investor confidence.
Key Dates
| Date | Description |
|---|---|
| January 18, 2022 | Date used to determine the average high and low price per share of Common Stock ($832.07) for RSU conversion. |
| January 31, 2025 | Date of the reported transactions: acquisition of shares from RSU conversion and withholding of shares for tax obligations. |
| February 04, 2025 | Date of the Form 4 filing. |
Keywords
BlackRock, Kushel, Beneficial Ownership, Form 4, Stock, Restricted Stock Units, RSUs, Tax Withholding, Incentive Plan
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