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April 10, 2020, 8:56 a.m. EDT

BlackRock CEO Larry Fink takes a pay cut in 2019 for 2nd-straight year

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By Tomi Kilgore

Investment management giant BlackRock Inc. /zigman2/quotes/207946232/composite BLK +1.95% filed late Thursday its 2020 Proxy Statement with the Securities and Exchange Commission, showing that Chief Executive Larry Fink has taken a pay cut for the second-straight year in 2019. Fink's base salary for 2019 was $1.50 million, the same as 2018, but total compensation fell to $24.31 million from $26.54 million, which was down from $27.74 million in 2017. While Fink's bonus remained at $7.75 million in 2019, which was down from $10.00 million in 2017, the "fair value" of hits stock awards fell to $14.75 million from $17.05 million in 2018 and $16.60 million in 2017. Meanwhile, the median annual total compensation of BlackRock employees, excluding Fink, fell to $133,644 from $136,313 in 2018, and the ratio of the CEO pay to median employees fell to 182 to 1 from 195 to 1. BlackRock's stock has lost 6.2% year to date, compared with the S&P 500's /zigman2/quotes/210599714/realtime SPX +0.45% 13.7% decline. The stock rose 28.0% in 2019 and dropped 23.5% in 2018, while the S&P 500 rose 28.9% in 2019 and slipped 6.2% in 2018.

/zigman2/quotes/207946232/composite
US : U.S.: NYSE
$ 591.50
+11.30 +1.95%
Volume: 176,564
Aug. 11, 2020 12:59p
P/E Ratio
20.77
Dividend Yield
2.46%
Market Cap
$88.46 billion
Rev. per Employee
$952,953
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/zigman2/quotes/210599714/realtime
US : S&P US
3,375.55
+15.08 +0.45%
Volume: 1.54B
Aug. 11, 2020 1:00p
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