Kushel J. Richard 4

What Happened

• Richard Kushel, Senior Managing Director at BlackRock (BLK), was granted 2,243 restricted stock units (RSUs) on January 16, 2026. The Form 4 reports an acquisition (code A) of 2,243 shares at $0.00; the award had an approved dollar value of $2,625,000 which was converted to RSUs using an average share price of $1,170.18 (F1). The RSUs vest in equal installments on 1/31/27, 1/31/28 and 1/31/29.

Key Details

• Transaction date & price: 2026-01-16, acquisition at $0.00 per share (award) (code A).
• Award value and conversion: $2,625,000 converted to 2,243 RSUs using $1,170.18 average price on 1/16/2026 (F1).
• Vesting: Equal installments on Jan 31 of 2027, 2028 and 2029 (F1).
• Tax withholding correction: Footnote F2 notes a reduction of 1,718 shares to correct prior underreporting of shares withheld for taxes due to an administrative error; includes common stock and RSUs vesting over 1–3 years (F2).
• Shares owned after transaction: Not specified in the supplied filing details.
• Timeliness: Filing date 2026-01-21 for a 2026-01-16 grant — filed on the Form 4 due date (timely given the MLK Day holiday), so not late.

Context

• This was an equity award (RSUs), not an open-market purchase or sale; RSUs represent future delivery of shares if vesting conditions are met and do not indicate an immediate cash purchase or sale.
• Awards are a routine part of executive compensation and should be interpreted differently than outright purchases (which may signal direct buying interest). The filing includes an administrative correction related to prior tax withholding reporting (F2), not new trading activity.