09:56 AM EST, 02/14/2025 (MT Newswires) -- BlackRock ( BLK ) has approved a carried interest allocation for Chief Executive Laurence Fink, linking part of his compensation to the performance of certain private market investment funds, a regulatory filing with the US Securities and Exchange Commission showed Friday.

The firm said the carried interest, applicable from Fink's 2024 year-end compensation, is intended to align the potential of BlackRock's ( BLK ) private markets platform with CEO compensation and the associated executive responsibilities of the CEO.

The carry incentive, completely dependent on the performance of the participating funds, is subject to a three-year vesting schedule, with unvested portions forfeited if he leaves before vesting, except in cases of retirement, death, or disability, according to the filing.

BlackRock ( BLK ) said it has used similar incentives for executives previously, aligning pay with long-term fund performance.

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