BlackRock (BLK) has approved a carried interest allocation for Chief Executive Laurence Fink, linking part of his compensation to the performance of certain private market investment funds, a regulatory filing with the US Securities and Exchange Commission showed Friday.
The firm said the carried interest, applicable from Fink's 2024 year-end compensation, is intended to align the potential of BlackRock's private markets platform with CEO compensation and the associated executive responsibilities of the CEO.
The carry incentive, completely dependent on the performance of the participating funds, is subject to a three-year vesting schedule, with unvested portions forfeited if he leaves before vesting, except in cases of retirement, death, or disability, according to the filing.
BlackRock said it has used similar incentives for executives previously, aligning pay with long-term fund performance.
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