Margaret "Peggy" L. Johnson
BlackRockAbout Margaret “Peggy” L. Johnson
Margaret “Peggy” L. Johnson, age 63, has served on BlackRock’s Board since 2018 (7 years) and is currently CEO of Agility Robotics. She is an independent director with deep technology, business development, and global operating experience from senior roles at Microsoft, Qualcomm, and Magic Leap, and serves on the Audit and Risk Committees .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Agility Robotics | Chief Executive Officer | Mar 2024 – Present | Leads mobile manipulation robotics strategy and operations |
| Magic Leap, Inc. | Chief Executive Officer | Aug 2020 – Oct 2023 | Led AR company through transition; focus on emerging tech |
| Microsoft Corporation | EVP, Business Development | Sep 2014 – Jul 2020 | Drove strategic deals and partnerships across industries |
| Qualcomm Incorporated | Various leadership roles | Prior to 2014 | Engineering, sales, marketing, BD leadership spanning decades |
| Huntington’s Disease Society of America (San Diego Chapter) | Advisor | 2010 – 2020 | Non-profit advisory role |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| Fox Corporation | Director | 2023 – Present | Current public company directorship |
Board Governance
- Independence: The Board determined Johnson is “independent” under NYSE standards and that no relationships between her (or affiliated entities) and BlackRock are material .
- Committee assignments: Audit Committee member; Risk Committee member; not a chair .
- Committee and Board activity: 2024 meetings held — Audit (15), Risk (6), MDCC (8), NGC (6), Executive (3); full Board met 10 times .
- Attendance: In 2024, each director attended at least 75% of Board and applicable Committee meetings; all directors standing for re‑election attended the 2024 Annual Meeting .
| Governance Attribute | Detail |
|---|---|
| Independence status | Independent (NYSE definition) |
| Board tenure | 7 years (Director since 2018) |
| Committees | Audit; Risk |
| Chairs | None (Audit chair: Daley; Risk chair: Wagner) |
| 2024 meetings attended | ≥75% of Board/Committee meetings (firmwide disclosure) |
Fixed Compensation
Program structure and Johnson’s actual 2024 compensation.
| Compensation Element | Program Terms (2024) | Johnson 2024 Actual |
|---|---|---|
| Annual Board Retainer | $85,000 first three quarters; $100,000 in Q4 (blended $88,750) | Included within Fees Earned total |
| Committee Retainers | Audit Chair $40,000; Audit Member $25,000; Risk Chair $30,000; Risk Member $15,000 | Included within Fees Earned total |
| Annual Equity Grant (Directors) | $240,000 Deferred Stock Units (DSUs); vest upon election/re‑election; settlement on earlier of 3rd anniversary or Board departure | $239,648 stock awards (grant-date fair value) |
| Fees Earned or Paid in Cash | Directors may elect cash or BLK common stock for retainers | $132,510; elected to receive in BLK common stock |
| Total 2024 Director Compensation | — | $372,158 |
Additional program updates: Effective Oct 1, 2024, Annual Retainer increased to $100,000 and the Annual Equity Grant increased to $250,000 starting with January 2025 grants; prorated initial equity grants adopted for new directors appointed between Annual Meeting and Nov 30 .
Performance Compensation
Directors do not receive performance-based pay; equity is time/role-based and intended to align interests.
| Equity Award Feature | 2024 Details |
|---|---|
| Grant vehicle | Deferred Stock Units (DSUs) |
| Grant value | $240,000 in January 2024 |
| Typical DSU count | 300 DSUs per director (grant-date FV $240,000 under ASC 718) |
| Vesting | Upon election or re‑election at 2024 Annual Meeting |
| Settlement | Earlier of 3rd anniversary of grant or cessation from Board; directors can elect lump sum or 5 annual installments |
| 2025 change | Annual DSU grant increased to $250,000 (from $240,000) |
No financial/ESG performance metrics are tied to director equity grants; awards are structured for long-term alignment, not pay-for-performance .
Other Directorships & Interlocks
| Company | Role | Potential Interlock/Conflict |
|---|---|---|
| Fox Corporation | Director (current) | No material related-party transactions disclosed with BlackRock; Johnson deemed independent |
- Related-party review: BlackRock’s policy requires NGC/Board approval for any related person transaction >$120,000; evaluation includes independence impact and market terms; no MDCC interlocks or insider participation issues were reported for 2024 .
Expertise & Qualifications
- Technology and emerging tech leadership (Microsoft EVP BD; Qualcomm leadership; CEO roles in AR and robotics) .
- Global business and public company reporting literacy; Audit and Risk oversight experience on BLK Board .
- Strategic partnerships, commercialization, and innovation governance .
Equity Ownership
Stock ownership guidelines and current holdings.
| Metric | As of Dec 31, 2024 | As of Mar 28, 2025 |
|---|---|---|
| Stock ownership guideline (Directors) | $500,000 within 5 years of joining Board; all directors met or on track | — |
| Beneficial ownership (common shares) | — | 2,875 shares; <1.0% outstanding |
| Deferred stock units (outstanding) | 2,108 DSUs (Johnson) | 873 DSUs/options vesting within 60 days (table definition) |
| Total (beneficial + eligible DSUs/options) | — | 3,748 |
| Hedging/Pledging policy | Prohibits hedging/pledging BLK securities for directors/officers | — |
Governance Assessment
- Board effectiveness: Johnson strengthens Audit and Risk oversight with tech/cyber familiarity from Microsoft/Qualcomm/Verizon ecosystem; placement on Audit and Risk is consistent with her skill set and supports control, reporting integrity, and enterprise risk governance .
- Independence & conflicts: The Board affirmed Johnson’s independence and found no material relationships with BlackRock; related-party policy and NGC oversight mitigate conflict risks. No related-person transactions involving Johnson requiring disclosure were reported .
- Alignment & incentives: She elected to receive all 2024 fees in BLK common stock ($132,510), enhancing alignment; standard DSU grants vest on re‑election with deferred settlement, reinforcing long-term perspective .
- Engagement & attendance: Firm-level disclosure indicates directors met the ≥75% attendance threshold; Audit and Risk committees were active in 2024 (15 and 6 meetings, respectively), with full Board meeting 10 times, supporting robust oversight cadence .
- RED FLAGS: None disclosed. BlackRock prohibits hedging/pledging; no low attendance flagged; no say-on-pay or compensation anomalies tied to directors; independence affirmed. Note Johnson’s concurrent CEO role (Agility Robotics) and Fox board seat increase time commitments, but BlackRock’s service-on-other-boards guidelines and independence review mitigate overload/interlock concerns (none serve on >4 public boards; independence reconfirmed) .