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- Larry Fink’s salary for 2016 is $ 25.5 million
Larry Fink's salary for 2016 is $ 25.5 million
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Loading...BlackRock Inc. Chief Executive Officer Laurence D. Fink received a $25.5 million pay package for 2016 as the company cut employee bonuses for the first time since 2011.
Fink, got an $8 million cash bonus and about $16.4 million in deferred shares, some tied to long-term performance goals, the New York-based firm said in a regulatory filing Friday. He also got a $900,000 salary and about $193,000 in perks. The package fell 1.2 percent from 2015.
The world’s largest asset manager, which now oversees about $5.1 trillion, added $202 billion in net fund flows. But revenue declined for the first time since 2009 as performance fees fell and the company’s U.S.-based active funds saw $19.3 billion of net outflows.
Annual employee bonuses were reduced by an averageby 4 percent last year.
Some of Fink’s equity awards are tied to the company’s revenue and operating margin, both measured over three years. His bonus is linked to a variety of financial and operational performance metrics.
BlackRock’s shares rose 12 percent last year, compared with 9.5 percent for the S&P 500 Index.
The company president, Robert Kapito, received $19.6 million in 2016, down 3.5 percent from a year earlier under SEC rules.
Source: Bloomberg
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