BlackRock management check
BLK · Financials · Asset Management & Custody Banks · CEO Laurence Fink
Filings as of
3 good · 2 to watch · 1 flagged, across the seven questions below.
- n/a
Have owners done well?
Not enough dataNo shareholder-return figures in the latest proxy.
- Watch
Does pay follow performance?
Pay only loosely tracked returnsOver 4 years, the CEO's pay actually paid (equity valued at the share price) had a correlation of 0.03 with shareholder return. 1 means pay moved in step; below 0, the opposite way.
- Good
What does the CEO cost owners?
0.7% of net income$37.7m of reported pay in fiscal 2025, against $5.6bn of net income.
- Watch
Do they own the stock?
Insiders are selling3 insiders sold $66.8m in the last six months and none bought.
- Flag
Are owners being diluted?
Share count growingDiluted shares changed +3.3% a year over the last three fiscal years. Stock-based pay was 5.4% of revenue in the latest year.
- Good
Is leadership stable?
2 leadership filings in 3 yearsCEO in the pay table: Mr. Fink. 2 filings under 8-K item 5.02 (officers or directors leaving or joining, or new pay arrangements) in the last 3 years.
- Good
Are the books clean?
No red flags on fileNo restatements, auditor changes or late filings since 2025.
Against the S&P 500
Each check's score (0–100) and how it compares: the share of ranked S&P 500 companies it matches or beats, and the median in Financials.
| Check | Score | At or above | Sector median |
|---|---|---|---|
| Owner returns | — | — | 49 |
| Pay for performance | 52 | 83 | |
| CEO cost | 64 | 67 | |
| Skin in the game | — | — | 51 |
| Dilution | 9 | 69 | |
| Stable leadership | 100 | 80 | |
| Clean books | 100 | 100 |
Closest peers
Others in Asset Management & Custody Banks, by management score. BlackRock is 44th of 72 in its sector.
- 48STTState Street Corporation80
- 65APOApollo Global Management79
- 66NTRSNorthern Trust79
- 165BNYBNY Mellon71
- 171AMPAmeriprise Financial71
- 243BLKBlackRock65
- 268ARESAres Management63
- 329TROWT. Rowe Price59
- 390IVZInvesco55
- 420BENFranklin Resources50
Pay versus performance
From the proxy statement filed April 10, 2026. "Actually paid" values stock awards at the share price, so it rises and falls with the stock.
| Fiscal year | CEO | CEO pay | Actually paid | Other executives (avg) | $100 became | Peers | Net income |
|---|---|---|---|---|---|---|---|
| 2025 | Mr. Fink | $37.7m | $55.8m | $16.5m | — | — | $5.6bn |
| 2024 | Mr. Fink | $30.8m | $56.5m | $13.6m | $167 | $211 | $6.4bn |
| 2023 | Mr. Fink | $26.9m | $26.9m | $15.6m | $157 | $201 | $5.5bn |
| 2022 | Mr. Fink | $32.7m | −$5.8m | $13.8m | $121 | $145 | $5.2bn |
| 2021 | Mr. Fink | $32.6m | $65.3m | $14.8m | $103 | $111 | $5.9bn |
The board says pay is tied most to Operating Margin, as adjusted. Its other key measures: Operating Margin, as adjusted(1), Operating Income, as adjusted(1), Net New Business, Organic Revenue Growth(2), Total Shareholder Return(3).
Insiders and the CEO's stake
Laurence Fink (Chairman and CEO) held 215,979 shares directly after their latest Form 4 on Jul 21, 2026.
3 insiders sold $66.8m in the last six months and none bought.
- SoldLaurence FinkChairman and CEO$37.7mJul 16, 2026
- SoldChristopher J. MeadeGeneral Counsel and CLO$19.9mJul 16, 2026
- SoldRobert KapitoPresident$9.2mApr 27, 2026
Leadership and governance on file
- Jan 27, 2026Leadership change8-K 5.02
- Jan 16, 2026Leadership change8-K 5.02
Latest shareholder vote results: May 22, 2026, including the say-on-pay vote.
Where the money went
Over 2021–2025: $15.3bn returned to owners in buybacks and dividends, 54% of net income, and $3.4bn of pay in stock.
| Fiscal year | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Revenue | — | $17.9bn | $17.9bn | $20.4bn | $24.2bn |
| Net income | $5.9bn | $5.2bn | $5.5bn | $6.4bn | $5.6bn |
| Stock-based pay | — | $708.0m | $630.0m | $753.0m | $1.3bn |
| Buybacks | — | $2.3bn | $1.9bn | $1.9bn | — |
| Dividends | — | $3.0bn | $3.0bn | $3.1bn | — |
| Diluted shares | — | 152m | 151m | 152m | 161m |
Educational only, not investment advice. Figures are as filed with the SEC: pay from the proxy's pay-versus-performance table, capital allocation from 10-K XBRL data, insider trades from Form 4s over the last six months, events from the last 5 years of filings. The peer group is the one the company chose. See the method.