Proxies / Blackrock Inc. | Tables in SEC filings

BLK Blackrock Inc.

14 Apr 22

Definitive proxy

4:03pm

Compensation Discussion and Analysis | 4. 2021 NEO Compensation and Performance Summaries

Performance Category

Performance Highlights

Assessment

Business Strength

Deliver on client commitments • Led another strong year of investment performance across active products, with alpha generation and active strategies growth enabled by continued investments in data science and other portfolio construction innovations. • Led BlackRock to record $1.1 billion annual performance fees on the strength of the year’s alpha generation. In particular, the majority of BlackRock’s active fixed income and active equity AUM beat their benchmarks or peer medians as measured over trailing 1-, 3- and 5-year periods from year-end:

Far Exceeds Expectations

Actively managed AUM above benchmark or peer median

1-Yr

3-Yr

5-Yr

Taxable Fixed Income

61%

87%

88%

Tax-Exempt Fixed Income

76%

79%

81%

Fundamental Equity

52%

72%

78%

Systematic Equity

66%

72%

93%

• Over 97% of Index Equity and 85% of Index Fixed Income assets within index tracking tolerance across 1, 3 and 5-year horizons.

Grow with our clients’ needs and evolve how we serve clients • Partnered with Mr. Kushel to lead growth in multi-asset strategies, including expanding BlackRock’s outsourced chief investment officer (“OCIO”) business to more than $200 billion in AUM by the end of 2021. • In partnership with Mr. Fink, expanded BlackRock’s alternative strategies platform that raised a record $42 billion of client capital for infrastructure, private credit, real estate and private equity strategies that provided clients opportunities for portfolio diversification and higher returns. • Guided the growth and management of record AUM of more than $10 trillion at year-end, including $2.6 trillion in active, $6.6 trillion in iShares ETFs & Index and $0.8 trillion in cash management strategies.

Lead in a changing world • In partnership with Messrs. Fink and Kushel, increased the availability and innovation of sustainable products, more than doubling the firm’s offering of sustainable mutual funds and ETFs to 250 from fewer than 100 in 2019, including two transparent active carbon transition readiness ETFs in the U.S. • Continued to partner with Mr. Goldstein in overseeing key day-to-day management challenges, including risks and resource allocation, brought on by the remote work environment that began in 2020 and extended through 2021.

ESG and Organizational Strength

Deliver sustainable solutions for clients • Oversaw the BlackRock Alternative Investors team’s launch of ESG-focused funds (e.g., the Global Renewable Power Fund) and key partnerships (e.g., Climate Finance Partnership and Decarbonization Partners). • Continued to expand BlackRock’s sustainable investments strategies, which saw a record $104 billion of net inflows in 2021. Sustainable AUM as of year-end exceeded $500 billion, up from $200 billion in 2020.

Far Exceeds Expectations

Corporate sustainability • Ensured focus on growing diverse partnerships across the firm, including BlackRock’s Diverse Manager and Diverse Broker Programs.



		2021 Total Incentive Award

Name	Base Salary	Cash	Deferred Equity		Long-Term Incentive Award (BPIP)	Total Annual Compensation (TAC)	% change in TAC vs. 2020	Performance Assessment

Laurence D. Fink	$1,500,000	$11,250,000		$4,850,000	$18,400,000	$36,000,000	21%	Far Exceeds

Robert S. Kapito	$1,250,000	$9,700,000		$4,650,000	$13,150,000	$28,750,000	17%	Far Exceeds

Robert L. Goldstein	$500,000	$3,875,000		$3,375,000	$5,750,000	$13,500,000	15%	Far Exceeds

J. Richard Kushel	$500,000	$4,015,000		$3,585,000	$3,650,000	$11,750,000	18%	Far Exceeds

Gary S. Shedlin	$500,000	$3,335,000		$2,565,000	$3,350,000	$9,750,000	15%	Far Exceeds



Average year-over-year growth since 2011

CEO Total Pay	NEO Total Pay	AUM	Revenue	Operating Income, as adjusted(1)
5%	5%	11%	8%	8%


	Option Awards				Stock Awards

Name	Number of Shares Acquired on Exercise (#)		Value Realized on Exercise ($)		Number of Shares Acquired on Vesting (#)		Value Realized on Vesting ($)(1)
Laurence D. Fink		—		—		31,321		$21,964,164

Robert S. Kapito		—		—		24,499		$17,180,169

Robert L. Goldstein		—		—		8,039		$5,637,429

J. Richard Kushel		—		—		6,540		$4,586,240

Gary S. Shedlin		—		—		6,565		$4,603,772



Plan Category	Number of securities to be issued upon exercise of outstanding options, warrants and rights		Weighted-average exercise price of outstanding options, warrants and rights		Number of securities available for issuance under equity compensation plans (excluding securities reflected in first column)

Approved

BlackRock, Inc. Second Amended and Restated 1999 Stock Award and Incentive Plan		4,669,745(1)		$513.50(2)		5,190,152

Amended and Restated BlackRock, Inc. Employee Stock Purchase Plan		—		N/A		410,481(3)

Total Approved by Shareholders		4,669,745				5,600,633

Not Approved

None		—		N/A		—

Total Not Approved by Shareholders		—		N/A		—

Total		4,669,745				5,600,633

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