UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
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Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On October 3, 2022, BlackRock, Inc. (“BlackRock” or the “Company”) announced that Martin Small (age 47) will succeed Gary S. Shedlin as the Company’s Chief Financial Officer in 2023. Mr. Shedlin will transition his CFO responsibilities after BlackRock completes its 2022 financial reporting requirements, which is anticipated to be on or about March 1, 2023, and will take on a new role as Vice Chairman working directly with key strategic clients of the Company. Mr. Small, Head of BlackRock’s U.S. Wealth Advisory business, will work with Mr. Shedlin in the interim to assure a smooth transition.
Mr. Small has served as Head of BlackRock’s U.S. Wealth Advisory business since 2019 and was previously Head of iShares in the U.S. and Canada from 2014 to 2018. Prior to that, he served in leadership roles for BlackRock’s Financial Markets Advisory unit. Mr. Small joined BlackRock in 2006 in its Legal & Compliance team from the law firm Davis Polk.
Mr. Small will receive an annual base salary of $500,000, and will be eligible to be considered for an annual discretionary bonus reflecting his performance, his team’s performance, and the Company’s performance as determined by management and the Management Development and Compensation Committee (“MDCC”) of the Company’s board of directors from time to time. The mix of cash and non-cash and the terms of any non-cash award will be consistent with the terms generally applicable to other similarly situated executive officers of the Company. Mr. Small has previously received and will continue to be eligible to receive long-term performance-based incentive awards granted to a select group of senior leaders as determined by management and the MDCC.
The Company issued a press release announcing that Mr. Small will succeed Mr. Shedlin. A copy of the press release is attached hereto as Exhibit 99.1 and is incorporated herein by reference.
| Item 9.01 | Financial Statements and Exhibits. |
(d) Exhibits
| Exhibit Number |
Description | |
| 99.1 | Press release issued by the Company on October 3, 2022 | |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) | |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| BlackRock, Inc. | ||
| (Registrant) | ||
| By: | /s/ R. Andrew Dickson III | |
| Name: | R. Andrew Dickson III | |
| Title: | Managing Director and Corporate Secretary | |
Date: October 3, 2022