The company said its board of directors elected Adebayo Ogunlesi as a director on November 19, 2024. The company said he is not an independent director and does not participate in the company's director compensation program.

1. 01

   The company said its board of directors elected Adebayo Ogunlesi as a director on November 19, 2024. The company said he is not an independent director and does not participate in the company's director compensation program.

2. 02

   BlackRock said Ogunlesi joined the Board in connection with the company's acquisition of 100% of the limited liability company interests of Global Infrastructure Management, LLC (GIP). The total consideration for the acquisition was $3 billion in cash and about 12 million shares of common stock.

3. 03

   The company said Ogunlesi is eligible to receive annual base salary of $250,000 and a target discretionary performance bonus for 2024 of at least $3.75 million for his service as a GIP employee. The company said his future compensation may reflect carried interest distributions from certain GIP funds, which will be reported as compensation when paid.

4. 04

   BlackRock said the election brings the Board to 17 members, including 14 independent directors. The company said Ogunlesi worked at Credit Suisse for 23 years before GIP was formed in 2006.

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Original filing

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