Proxy Advisers Recommend Voting Against BlackRock CEO Larry Fink's Pay Package -- WSJ

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Proxy Advisers Recommend Voting Against BlackRock CEO Larry Fink's Pay Package -- WSJ

Dow Jones04-30

By Jack Pitcher

Both major proxy advisory firms are recommending shareholders vote against BlackRock Chief Executive Larry Fink's roughly $27 million pay package at the asset manager's annual meeting.

ISS and Glass Lewis separately recommended that shareholders vote against the proposal to ratify the compensation for BlackRock's named executive officers.

Glass Lewis wrote that there was a "disconnect between pay and performance" and that total compensation for BlackRock's top executives outpaces the median for peers.

Fink's 2023 pay package totals roughly $27 million. Last year, the pay package passed with 92% of votes.

BlackRock's annual meeting is set for May 15.

This item is part of a Wall Street Journal live coverage event. The full stream can be found by searching P/WSJL (WSJ Live Coverage).

(END) Dow Jones Newswires

April 29, 2024 14:09 ET (18:09 GMT)

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