BlackRock CEO Larry Fink takes a pay cut in 2019 for 2nd-straight year [MarketWatch]
BlackRock, Inc. (BLK)
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Source: MarketWatch
Investment management giant BlackRock Inc. 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 13.7% decline. The stock rose 28.0% in 2019 and dropped 23.5% in 2018, while the S&P 500 rose
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