11:18 AM EDT, 05/15/2025 (MT Newswires) -- (Updates with additional details throughout.)

BlackRock's ( BLK ) executive pay proposal won preliminary approval from shareholders, according to a FactSet transcript of the company's annual meeting Thursday.

The proposal garnered about 67% of the votes, with the results to be reviewed by the board, the transcript showed. It would set pay for Chief Executive Larry Fink and other top executives in line with those at Blackstone (BX) and Apollo Global Management ( APO ) , according to media reports.

Proxy advisers Institutional Shareholder Services asked shareholders to reject the proposal, while Glass Lewis backed the pay package. Both firms said they will closely monitor the decision to grant Fink additional pay perks such as "carry incentives," the reports added.

BlackRock ( BLK ) declined MT Newswires' request for comment, while ISS and Glass Lewis did not immediately respond.

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