Form 4: BlackRock Senior Managing Director Stephen Cohen Acquires Restricted Stock Units

BlackRock's Senior Managing Director, Stephen Cohen, acquired 1,026 restricted stock units on January 16, 2025, as part of a compensation package.

Summary

• Stephen Cohen, a Senior Managing Director at BlackRock, Inc., acquired 1,026 restricted stock units on January 16, 2025.
• The restricted stock units were awarded as part of a compensation package approved by the Management Development and Compensation Committee on January 14, 2025.
• The award value was $1,025,000, and the number of units was determined by dividing the award value by $999.36, the average of the high and low price per share of common stock on January 16, 2025.
• The restricted stock units vest in equal installments on January 31, 2026, January 31, 2027, and January 31, 2028.
• Cohen's total holdings include common stock and restricted stock units that vest over a period of one to three years.
• Each restricted stock unit is payable solely by delivery of an equal number of shares of common stock.

Sentiment

Score: 7

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

Positives

• The grant of restricted stock units to a senior executive aligns their interests with the long-term performance of the company.
• The vesting schedule encourages long-term commitment from the executive.

Industry Context

This is a standard practice for executive compensation in the financial services industry, where equity-based awards are common to align management interests with shareholder value.

Comparison to Industry Standards

• Equity-based compensation, such as restricted stock units, is a common practice among large financial institutions like BlackRock, similar to firms such as Goldman Sachs, Morgan Stanley, and JP Morgan Chase.
• These firms often use vesting schedules over multiple years to retain key talent and incentivize long-term performance.
• The specific value and vesting terms of these awards can vary based on individual performance and company policy, but the general structure is consistent across the industry.

Stakeholder Impact

• The award of restricted stock units to a senior executive is generally positive for shareholders as it aligns management's interests with the long-term performance of the company.
• Employees may view this as a positive sign of the company's commitment to its leadership.

Key Dates

Keywords

BlackRock, Restricted Stock Units, Stephen Cohen, Compensation, Equity, Senior Managing Director, Form 4, SEC Filing