UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
Pursuant to Section 13 OR 15(d)
of The Securities Exchange Act of 1934
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Emerging growth company
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 8.01. | Other Events |
On February 13, 2020, BlackRock, Inc. (the “Company”) issued a press release announcing the establishment of The BlackRock Foundation (the “Foundation”) and the contribution of its remaining stake in PennyMac Financial Services, Inc. to the Foundation and the BlackRock Charitable Fund.
The contribution will result in an operating expense of $589 million, which is expected to be offset by an approximately $125 million non-cash, non-operating pre-tax gain on the contributed shares and a tax benefit of approximately $241 million. The impact of this transaction will be excluded from the “as-adjusted” results when the Company reports first quarter results for 2020.
A copy of the Company’s press release is attached hereto as Exhibit 99.1 and is incorporated herein by reference.
Item 9.01. | Financial Statement and Exhibits |
(d) Exhibits
99.1 |
Press release dated February 13, 2020 issued by the Company | |||
104 |
Cover Page Interactive Date File (embedded within the Inline XBRL document) |
EXHIBIT INDEX
99.1 |
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104 |
Cover Page Interactive Date File (embedded within the Inline XBRL document) |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
BlackRock, Inc. | ||||||
(Registrant) | ||||||
By: |
/s/ Gary S. Shedlin | |||||
Date: February 13, 2020 |
Gary S. Shedlin | |||||
Senior Managing Director and | ||||||
Chief Financial Officer |