Blackrock, Inc.

Asset Management • Financial Services • New York, NY, United States • BLK (NYQ)

212 810 5300 50 Hudson Yards, New York, NY 10001, United States

Quarter: Q2 2025 Reported: May 16, 2025 Sentiment: Positive

BlackRock, Inc. is a publicly owned investment manager. The firm primarily provides its services to institutional, intermediary, and individual investors including corporate, public, union, and industry pension plans, insurance companies, third-party mutual funds, endowments, public institutions, governments, foundations, charities, sovereign wealth funds, corporations, official institutions, and banks. It also provides global risk management and advisory services. The firm manages separate client-focused equity, fixed income, and balanced portfolios. It also launches and manages open-end and closed-end mutual funds, offshore funds, unit trusts, and alternative investment vehicles including structured funds. The firm launches equity, fixed income, balanced, and real estate mutual funds. It also launches equity, fixed income, balanced, currency, commodity, and multi-asset exchange traded funds. The firm also launches and manages hedge funds. It invests in the public equity, fixed income, real estate, currency, commodity, and alternative markets across the globe. The firm primarily invests in growth and value stocks of small-cap, mid-cap, SMID-cap, large-cap, and multi-cap companies. It also invests in dividend-paying equity securities. The firm invests in investment grade municipal securities, government securities including securities issued or guaranteed by a government or a government agency or instrumentality, corporate bonds, and asset-backed and mortgage-backed securities. It employs fundamental and quantitative analysis with a focus on bottom-up and top-down approach to make its investments. The firm employs liquidity, asset allocation, balanced, real estate, and alternative strategies to make its investments. In real estate sector, it seeks to invest in Poland and Germany. The firm benchmarks the performance of its portfolios against various S&P, Russell, Barclays, MSCI, Citigroup, and Merrill Lynch indices. BlackRock, Inc. was founded in 1988 and is based in New York, New York with additional offices in Atlanta, Georgia; Boston, Massachusetts; Chicago, Illinois; Dallas, Texas; Denver, Colorado; Greenwich, Connecticut; Houston, Texas; Miami, Florida; Newport Beach, California; Palo Alto, California; Philadelphia, Pennsylvania; Princeton, New Jersey; San Francisco, California; Santa Monica, California; Seattle, Washington; Washington, DC; West Palm Beach, Florida; Wilmington, Delaware; Mexico; Canada; South Africa; Netherlands; Greece; Serbia; Belgium; Hungary; Denmark; Ireland; Scotland; Germany; Switzerland; England; Luxembourg; Spain; Italy; France; Sweden; Austria; India; China; Australia; Hong Kong; South Korea; Singapore; Taiwan; Japan; Colombia; Argentina; Peru; Chile; Brazil; UAE; Saudi Arabia; Israel.

Analysis Summary

BlackRock, Inc. held its 2025 Annual Meeting of Shareholders on May 15, 2025, with key outcomes reflecting strong endorsement of the company's current leadership and governance framework. All 18 director nominees were successfully elected to the Board, underscoring broad shareholder confidence in the existing board composition. The proposal to approve the compensation of named executive officers, a non-binding advisory vote, also passed, indicating shareholder satisfaction with executive remuneration practices. Deloitte & Touche LLP was ratified as the independent registered public accounting firm for fiscal year 2025, ensuring continuity in auditing oversight.

Two significant shareholder proposals were not approved. The first, requesting a report on risks associated with stakeholder capitalism, was overwhelmingly rejected. This outcome suggests that the majority of shareholders either do not perceive significant risks in the company's approach to stakeholder capitalism or are content with current disclosures. The second proposal, seeking reform of board elections to list more candidates than the number of directors to be elected, was also defeated, reinforcing the current board election process.

Overall, the meeting results indicate a stable governance environment with strong shareholder alignment with management's recommendations. The rejection of the stakeholder capitalism proposal, in particular, may be seen as a positive signal for the company's current strategic direction, which has often emphasized broader stakeholder considerations. While no financial performance data was released in this 8-K, the governance outcomes provide a positive backdrop for future operational and financial reports.

Key Highlights

• All 18 director nominees were successfully elected to BlackRock's Board of Directors.
• Shareholders approved the non-binding advisory vote on executive compensation.
• Deloitte & Touche LLP was ratified as the independent auditor for fiscal year 2025.
• A shareholder proposal requesting a report on risks associated with stakeholder capitalism was not approved.
• A shareholder proposal seeking board election reform was not approved.
• Strong shareholder support for current management and governance practices was evident.

Financial Metrics

Stock Performance (90 Days)

Data through Dec 29, 2025

Layoff Events

Earnings Calls

Positive Signals

• All director nominees elected, indicating strong shareholder support for the board.
• Executive compensation approved, reflecting confidence in management's performance and incentives.
• Auditor ratification ensures continuity and stability in financial oversight.
• Rejection of shareholder proposals suggests alignment with current corporate strategy and governance.

Risks & Concerns

— Ongoing debate around 'stakeholder capitalism' as evidenced by the defeated shareholder proposal, indicating potential future pressure points.
— Shareholder interest in board election reform, though defeated, highlights a desire for potentially more diverse or competitive board selection processes.
— Potential for future shareholder activism on governance or ESG-related topics, despite current proposals being rejected.