According to Techub News and Bloomberg, BlackRock Inc.'s annual proxy statement spans over 50 pages detailing executive compensation. However, the contents listed therein do not adequately explain why CEO Larry Fink received a compensation of $37 million in 2024.
Previously, BlackRock's shareholders cast a rare large number of votes against its compensation framework at last year's annual shareholder meeting. The reason was the lack of transparency in compensation decisions and the issuance of one-time bonuses without any actual conditions. Subsequently, BlackRock claimed that half of the executive bonuses depend on financial performance. The other half is divided among vague targets such as "business strength" and "organizational strength."
However, the two top proxy advisory firms serving BlackRock, Institutional Shareholder Services (ISS) and Glass Lewis & Co., still believe that there are issues with the compensation process.
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Bloomberg: Serious Issues with Pay Transparency for BlackRock Executives
According to Techub News and Bloomberg, BlackRock Inc.'s annual proxy statement spans over 50 pages detailing executive compensation. However, the contents listed therein do not adequately explain why CEO Larry Fink received a compensation of $37 million in 2024.
Previously, BlackRock's shareholders cast a rare large number of votes against its compensation framework at last year's annual shareholder meeting. The reason was the lack of transparency in compensation decisions and the issuance of one-time bonuses without any actual conditions. Subsequently, BlackRock claimed that half of the executive bonuses depend on financial performance. The other half is divided among vague targets such as "business strength" and "organizational strength."
However, the two top proxy advisory firms serving BlackRock, Institutional Shareholder Services (ISS) and Glass Lewis & Co., still believe that there are issues with the compensation process.