Form 4: BlackRock Senior Managing Director Rachel Lord Reports Stock Award and Holdings
SEC Form 4 Filing
Rachel Lord, a Senior Managing Director at BlackRock, reported the acquisition of 1,594 restricted stock units and holdings of 18,598 common stock and restricted stock units.
Summary
- Rachel Lord, a Senior Managing Director at BlackRock, filed a Form 4 disclosing a transaction on January 16, 2025.
- She acquired 1,594 restricted stock units (RSUs) as part of a compensation award.
- The award was valued at $1,593,418 and converted to RSUs based on a share price of $999.36.
- The RSUs vest in equal installments on January 31, 2026, January 31, 2027, and January 31, 2028.
- Following the transaction, Ms. Lord beneficially owns 18,598 shares of common stock and restricted stock units.
- The filing also notes a corporate reorganization on October 1, 2024, where BlackRock, Inc. became the parent holding company.
Sentiment
Score: 7
Explanation: The document is a routine disclosure of an equity award, which is generally neutral to positive. It indicates that the company is using standard compensation practices to retain and incentivize key personnel.
Positives
- The award of restricted stock units to a senior executive aligns her interests with the long-term performance of the company.
- The vesting schedule encourages continued service and contribution to BlackRock's success.
Industry Context
This filing is a routine disclosure of insider transactions, which is common for publicly traded companies like BlackRock. It reflects standard compensation practices for senior executives.
Comparison to Industry Standards
- The use of restricted stock units as part of executive compensation is a common practice among large financial institutions like BlackRock.
- Companies such as State Street, Vanguard, and Fidelity also use similar equity-based compensation plans to align executive interests with shareholder value.
- The vesting schedule of the RSUs is typical, with vesting occurring over a period of several years to encourage long-term commitment.
Stakeholder Impact
- The stock award aligns the executive's interests with those of shareholders, potentially leading to better long-term performance.
- The vesting schedule encourages the executive's continued service, which benefits the company and its stakeholders.
Key Dates
| Date | Description |
|---|---|
| 10/01/2024 | BlackRock, Inc. became the successor issuer to BlackRock Finance, Inc. following an internal reorganization. |
| 01/14/2025 | The Management Development and Compensation Committee approved the restricted stock unit grant. |
| 01/16/2025 | Date of the reported transaction where Rachel Lord acquired restricted stock units. |
| 01/17/2025 | Date the Form 4 was signed and filed. |
| 01/31/2026 | First vesting date for the restricted stock units. |
| 01/31/2027 | Second vesting date for the restricted stock units. |
| 01/31/2028 | Third vesting date for the restricted stock units. |
Keywords
BlackRock, Rachel Lord, Restricted Stock Units, Form 4, Insider Trading, Compensation, Equity Award, Senior Managing Director
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