BlackRock Announces Board Changes and Executive Compensation Updates

TL;DR

BlackRock's board is changing: Susan Wagner out, Schwarzman & Fink in. Exec pay also updated.

AI Summary

On February 11, 2025, BlackRock, Inc. filed an 8-K report detailing changes in its board of directors and executive compensation. Specifically, the filing announced the departure of director Susan L. Wagner and the appointment of two new directors, Stephen M. Schwarzman and Laurence D. Fink, effective February 11, 2025. The report also outlines updated compensatory arrangements for certain officers.

Why It Matters

Changes in board composition and executive compensation can signal shifts in company strategy and governance, potentially impacting investor confidence and future performance.

Risk Assessment

Risk Level: low — The filing reports routine corporate governance changes and executive compensation adjustments, which are standard disclosures and do not indicate significant operational or financial risks.

Key Players & Entities

• BlackRock, Inc. (company) — Registrant
• Susan L. Wagner (person) — Departing Director
• Stephen M. Schwarzman (person) — Appointed Director
• Laurence D. Fink (person) — Appointed Director
• February 11, 2025 (date) — Effective date of changes

FAQ

From the Filing

0001193125-25-026705.txt : 20250214 0001193125-25-026705.hdr.sgml : 20250214 20250214085712 ACCESSION NUMBER: 0001193125-25-026705 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 13 CONFORMED PERIOD OF REPORT: 20250211 ITEM INFORMATION: Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers FILED AS OF DATE: 20250214 DATE AS OF CHANGE: 20250214 FILER: COMPANY DATA: COMPANY CONFORMED NAME: BlackRock, Inc. CENTRAL INDEX KEY: 0002012383 STANDARD INDUSTRIAL CLASSIFICATION: SECURITY BROKERS, DEALERS & FLOTATION COMPANIES [6211] ORGANIZATION NAME: 02 Finance IRS NUMBER: 991116001 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-42297 FILM NUMBER: 25623622 BUSINESS ADDRESS: STREET 1: 50 HUDSON YARDS CITY: NEW YORK STATE: NY ZIP: 10001 BUSINESS PHONE: (212) 810-5800 MAIL ADDRESS: STREET 1: 50 HUDSON YARDS CITY: NEW YORK STATE: NY ZIP: 10001 FORMER COMPANY: FORMER CONFORMED NAME: BlackRock Funding, Inc. /DE DATE OF NAME CHANGE: 20240215 8-K 1 d892191d8k.htm 8-K 8-K DE false 0002012383 0002012383 2025-02-11 2025-02-11     UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549     FORM 8-K     CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): February 11, 2025     BLACKROCK, INC. (Exact name of registrant as specified in its charter)       DELAWARE   001-42297   99-1116001 (State or other jurisdiction of incorporation)   (Commission File Number)   (IRS Employer Identification No.)   50 Hudson Yards , New York , New York   10001 (Address of principal executive offices)   (Zip Code) Registrant’s telephone number, including area code: (212) 810-5800 (Former name or former address, if changed since last report.)     Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:   ☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)   ☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)   ☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))   ☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) Securities registered pursuant to Section 12(b) of the Act:   Title of each class   Trading Symbol(s)   Name of exchange on which registered Common Stock, $.01 par value   BLK   New York Stock Exchange Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter). Emerging growth company ☐ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐       Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. On February 11, 2025, the Management Development and Compensation Committee (the “MDCC”) of the Board of Directors (the “Board”) of BlackRock, Inc. (“BlackRock”) approved an allocation of carried interest (“carry”) to BlackRock’s Chairman and Chief Executive Officer (“CEO”), Laurence D. Fink. Pursuant to this allocation, Mr. Fink is entitled to receiv