Block Unveils 2025 Employee Stock Plan Under Jack Dorsey's Leadership

Block Inc has filed a Form S-8 registration statement for its 2025 Equity Incentive Plan.

Rhea-AI Filing Summary

Block Inc has filed a Form S-8 registration statement for its 2025 Equity Incentive Plan. The filing, dated June 28, 2025, registers securities for employee benefit plans, including various forms of equity awards such as restricted stock units, restricted stock, and stock options.

Key components of the registration include:

• Implementation of the 2025 Equity Incentive Plan with separate award agreements for directors and employees
• Comprehensive indemnification provisions for directors and officers, backed by Delaware General Corporation Law Section 145
• Confirmation of Block's status as a large accelerated filer
• Legal representation by Wilson Sonsini Goodrich & Rosati, P.C.
• Jack Dorsey continues serving as Block Head and Chairperson

The filing incorporates by reference Block's Annual Report for fiscal year 2024 and all subsequent SEC filings. The company maintains a distributed work model with its principal executive office in Oakland, CA. The registration includes standard undertakings regarding post-effective amendments and removal of unsold securities.

Positive

• Block Inc. has established a new 2025 Equity Incentive Plan, demonstrating commitment to employee retention and alignment with shareholder interests
• The company maintains comprehensive director and officer insurance coverage, reducing potential financial risks to shareholders from legal claims
• Block has retained its status as a large accelerated filer, indicating substantial market capitalization and trading volume

Negative

• None.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What is the purpose of XYZ's Form S-8 filing from June 2025?

The Form S-8 filing is to register Block, Inc.'s (XYZ) 2025 Equity Incentive Plan. This registration statement allows the company to issue securities to employees under their benefit plan, including restricted stock units, restricted stock awards, and stock options.

Who is the current Block Head and Chairperson of XYZ as of June 2025?

Jack Dorsey serves as Block Head and Chairperson (Principal Executive Officer) of Block, Inc. (XYZ), as confirmed in the filing where he signed the registration statement at the company's Oakland office.

What types of equity awards does XYZ offer under its 2025 Equity Incentive Plan?

According to the filing's exhibits, XYZ offers several types of equity awards including: 1) Restricted Stock Unit Awards for Directors and Employees, 2) Restricted Stock Awards, and 3) Stock Option Grants.

How does XYZ handle indemnification of its directors and officers?

XYZ indemnifies directors and officers to the fullest extent permitted by Delaware law, requiring the company to advance legal expenses and allowing indemnification if the person acted in good faith. The company maintains directors and officers insurance and enters into separate indemnification agreements with each executive officer and director.

What is XYZ's current filer status with the SEC as of June 2025?

XYZ (Block, Inc.) is classified as a Large Accelerated Filer as indicated by the checkbox in the filing. The company is not an emerging growth company, accelerated filer, non-accelerated filer, or smaller reporting company.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 06/23/2025 - 05:27 PM EDT Learn about SEC filing dates

As filed with the Securities and Exchange Commission on June 23, 2025

Registration No. 333-  

 

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

 

FORM S-8

REGISTRATION STATEMENT

Under

The Securities Act of 1933

 

 

Block, Inc.

(Exact name of Registrant as specified in its charter)

 

 

 

Delaware	 	80-0429876
(State or other jurisdiction of incorporation or organization)	 	(I.R.S. Employer Identification Number)

1955 Broadway, Suite 600

Oakland, CA 94612¹

(Address of principal executive offices, including zip code)

2025 Equity Incentive Plan

(Full title of the plan)

Jack Dorsey

Block Head and Chairperson

Block, Inc.

1955 Broadway, Suite 600

Oakland, CA 94612

(415) 375-3176

(Name, address and telephone number, including area code, of agent for service)

 

 

Copies to:

 

Lisa Stimmell Wilson Sonsini Goodrich & Rosati, P.C. 650 Page Mill Road Palo Alto, California 94304 Telephone: (650) 493-9300 Facsimile: (650) 493-6811    Chrysty Esperanza Block, Inc.

 

 

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act.

 

Large accelerated filer	 	☒	  	Accelerated filer	 	☐
Non-accelerated filer	 	☐	  	Smaller reporting company	 	☐
	 		  	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 7(a)(2)(B) of the Securities Act. ☐

 

¹  We have adopted a distributed work model and, therefore, have no formal headquarters. This address represents our “principal executive office,” which we are required to identify under the Securities and Exchange Commission rules.

 

 

 

PART I

INFORMATION REQUIRED IN THE PROSPECTUS

The information specified in Item 1 and Item 2 of Part I of Form S-8 is omitted from this Registration Statement on Form S-8 (this “Registration Statement”) in accordance with the provisions of Rule 428 under the Securities Act of 1933, as amended (the “Securities Act”), and the introductory note to Part I of Form S-8. The documents containing the information specified in Part I of Form S-8 will be delivered to the participants in the equity benefit plan covered by this Registration Statement as specified by Rule 428(b)(1) under the Securities Act.

PART II

INFORMATION REQUIRED IN REGISTRATION STATEMENT

Item 3. Incorporation of Documents by Reference.

Block, Inc. (the “Registrant”) hereby incorporates by reference into this Registration Statement the following documents previously filed with the Securities and Exchange Commission (the “Commission”):

(1) The Registrant’s Annual Report on Form 10-K for the fiscal year ended December 31, 2024, filed with the Commission on February 24, 2025 (the “Annual Report”);

(2) All other reports filed pursuant to Section 13(a) or 15(d) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), since the end of the fiscal year covered by the Annual Report (other than the portions of these documents not deemed to be filed); and

(3) The description of the Registrant’s Class  A common stock contained in the Registrant’s Registration Statement on Form 8-A (File No. 001-37622) filed with the Commission on November 6, 2015, pursuant to Section 12(b) of the Exchange Act, including any amendment or report filed for the purpose of updating such description.

All documents filed by the Registrant pursuant to Sections 13(a), 13(c), 14, and 15(d) of the Exchange Act on or after the date of this Registration Statement and prior to the filing of a post-effective amendment to this Registration Statement that indicates that all securities offered have been sold or that deregisters all securities then remaining unsold shall be deemed to be incorporated by reference in this Registration Statement and to be part hereof from the date of filing of such documents; provided, however, that documents or information deemed to have been furnished and not filed in accordance with the rules of the Commission shall not be deemed incorporated by reference into this Registration Statement. Any statement contained in a document incorporated or deemed to be incorporated by reference herein shall be deemed to be modified or superseded for purposes of this Registration Statement to the extent that a statement contained herein or in any subsequently filed document which also is deemed to be incorporated by reference herein modifies or supersedes such statement. Any such statement so modified or superseded shall not be deemed, except as so modified or superseded, to constitute a part of this Registration Statement.

Item 4. Description of Securities.

Not applicable.

Item 5. Interests of Named Experts and Counsel.

Not applicable.

Item 6. Indemnification of Directors and Officers.

Section 145 of the Delaware General Corporation Law authorizes a corporation’s board of directors to grant, and authorizes a court to award, indemnity to officers, directors, and other corporate agents.

As permitted by Section 102(b)(7) of the Delaware General Corporation Law, the Registrant’s amended and restated certificate of incorporation includes provisions that may eliminate the personal liability of its directors and officers for monetary damages for breach of their fiduciary duty as directors and officers.

In addition, as permitted by Section 145 of the Delaware General Corporation Law, the amended and restated certificate of incorporation and amended and restated bylaws of the Registrant provide that:

 

  •   The Registrant shall indemnify its directors and officers for serving the Registrant in those capacities or for serving other business enterprises at the Registrant’s request, to the fullest extent permitted by Delaware law. Delaware law provides that a corporation may indemnify such person if such person acted in good faith and in a manner such person reasonably believed to be in or not opposed to the best interests of the Registrant and, with respect to any criminal proceeding, had no reasonable cause to believe such person’s conduct was unlawful.

 

  •   The Registrant may, in its discretion, indemnify employees and agents in those circumstances where indemnification is permitted by applicable law.

 

  •   The Registrant is required to advance expenses, as incurred, to its directors and officers in connection with defending a proceeding, except that such director or officer shall undertake to repay such advances if it is ultimately determined that such person is not entitled to indemnification.

 

  •   The Registrant will not be obligated pursuant to its amended and restated bylaws to indemnify a person with respect to proceedings initiated by that person, except with respect to proceedings authorized by the Registrant’s board of directors or brought to enforce a right to indemnification.

 

  •   The rights conferred in the amended and restated certificate of incorporation and amended and restated bylaws are not exclusive, and the Registrant is authorized to enter into indemnification agreements with its directors, officers, employees, and agents and to obtain insurance to indemnify such persons.

 

  •   The Registrant may not retroactively amend the bylaw provisions to reduce its indemnification obligations to directors, officers, employees, and agents.

The Registrant’s policy is to enter into separate indemnification agreements with each of its directors and executive officers that provide the maximum indemnity allowed to directors and officers by Section 145 of the Delaware General Corporation Law and also to provide for certain additional procedural protections. The Registrant also maintains directors and officers insurance to insure such persons against certain liabilities.

These indemnification provisions and the indemnification agreements entered into between the Registrant and its executive officers and directors may be sufficiently broad to permit indemnification of the Registrant’s executive officers and directors for liabilities (including reimbursement of expenses incurred) arising under the Securities Act.

Item 7. Exemption from Registration Claimed.

Not applicable.

Item 8. Exhibits.

 

Exhibit Number

  

Exhibit Description

  

Incorporated by Reference

 

  

Form

 

  

File No.

 

  

Exhibit

 

  

Filing Date

 

4.1

  

Amended and Restated Certificate of Incorporation of the Registrant, as amended.

  

 

10-K

 

  

 

001-37622

 

  

 

3.1

 

  

 

February 24, 2022

 

4.2

  

Amended and Restated Bylaws of the Registrant.

  

 

8-K

 

  

 

001-37622

 

  

 

3.1

 

  

 

October 21, 2022

 

5.1

  

Opinion of Wilson Sonsini Goodrich & Rosati, P.C.

  

  

  

  

23.1

  

Consent of Ernst & Young LLP, Independent Registered Public Accounting Firm.

  

  

  

  

23.2

  

Consent of Wilson Sonsini Goodrich & Rosati, P.C. (included in Exhibit 5.1 hereto).

  

  

  

  

24.1

  

Power of Attorney (included on the signature page hereto).

  

  

  

  

99.1

  

Block, Inc. 2025 Equity Incentive Plan.

  

  

  

  

99.2

  

Form of Restricted Stock Unit Award and Restricted Stock Unit Agreement (Directors).

  

  

  

  

99.3

  

Form of Restricted Stock Unit Award and Restricted Stock Unit Agreement (Employees).

  

  

  

  

99.4

  

Form of Restricted Stock Award and Restricted Stock Agreement.

  

  

  

  

99.5

  

Form of Stock Option Grant and Stock Option Agreement.

  

  

  

  

107.1

  

Filing Fee Table.

  

  

  

  

Item 9. Undertakings.

A. The undersigned Registrant hereby undertakes:

(1) To file, during any period in which offers or sales are being made, a post-effective amendment to this Registration Statement:

(i) To include any prospectus required by Section 10(a)(3) of the Securities Act of 1933;

(ii) To reflect in the prospectus any facts or events arising after the effective date of the Registration Statement (or the most recent post-effective amendment thereof) which, individually or in the aggregate, represent a fundamental change in the information set forth in the Registration Statement. Notwithstanding the foregoing, any increase or decrease in volume of securities offered (if the total dollar value of securities offered would not exceed that which was registered) and any deviation from the low or high end of the estimated maximum offering range may be reflected in the form of prospectus filed with the Commission pursuant to Rule 424(b) if, in the aggregate, the changes in volume and price represent no more than a 20 percent change in the maximum aggregate offering price set forth in the “Calculation of Registration Fee” table in the effective Registration Statement; and

(iii) To include any material information with respect to the plan of distribution not previously disclosed in the Registration Statement or any material change to such information in the Registration Statement.

Provided, however, that paragraphs (A)(1)(i) and (A)(1)(ii) do not apply if the information required to be included in a post-effective amendment by those paragraphs is contained in reports filed with or furnished to the Commission by the Registrant pursuant to Section 13 or Section 15(d) of the Securities Exchange Act of 1934 that are incorporated by reference in this Registration Statement.

(2) That, for the purpose of determining any liability under the Securities Act of 1933, each such post-effective amendment shall be deemed to be a new registration statement relating to the securities offered therein, and the offering of such securities at that time shall be deemed to be the initial bona fide offering thereof.

(3) To remove from registration by means of a post-effective amendment any of the securities being registered which remain unsold at the termination of the offering.

B. The undersigned Registrant hereby undertakes that, for purposes of determining any liability under the Securities Act of 1933, each filing of the Registrant’s annual report pursuant to Section 13(a) or Section 15(d) of the Securities Exchange Act of 1934 (and, where applicable, each filing of an employee benefit plan’s annual report pursuant to Section 15(d) of the Securities Exchange Act of 1934) that is incorporated by reference in the Registration Statement shall be deemed to be a new registration statement relating to the securities offered therein, and the offering of such securities at that time shall be deemed to be the initial bona fide offering thereof.

C. Insofar as indemnification for liabilities arising under the Securities Act of 1933 may be permitted to directors, officers and controlling persons of the Registrant pursuant to the foregoing provisions, or otherwise, the Registrant has been advised that in the opinion of the Commission such indemnification is against public policy as expressed in the Securities Act of 1933 and is, therefore, unenforceable. In the event that a claim for indemnification against such liabilities (other than the payment by the Registrant of expenses incurred or paid by a director, officer or controlling person of the Registrant in the successful defense of any action, suit or proceeding) is asserted by such director, officer or controlling person in connection with the securities being registered, the Registrant will, unless in the opinion of its counsel the matter has been settled by controlling precedent, submit to a court of appropriate jurisdiction the question whether such indemnification by it is against public policy as expressed in the Securities Act of 1933 and will be governed by the final adjudication of such issue.

SIGNATURES

Pursuant to the requirements of the Securities Act of 1933, the registrant certifies that it has reasonable grounds to believe that it meets all of the requirements for filing on Form S-8 and has duly caused this registration statement to be signed on its behalf by the undersigned, thereunto duly authorized, in the City of Oakland, State of California, on June 23, 2025.

 

BLOCK, INC.
By:	 	/s/ Jack Dorsey
Jack Dorsey
Block Head and Chairperson
(Principal Executive Officer)

POWER OF ATTORNEY

Each person whose signature appears below hereby constitutes and appoints Jack Dorsey, Amrita Ahuja and Chrysty Esperanza, and each of them, as his or her true and lawful attorney-in-fact and agent, with full power of substitution and resubstitution, for him or her and in his or her name, place and stead, in any and all capacities, to sign any and all amendments to this registration statement (including post-effective amendments), and to file the same, with all exhibits thereto, and other documents in connection therewith, with the Securities and Exchange Commission, granting unto said attorneys-in-fact and agents, and each of them, full power and authority to do and perform each and every act and thing requisite and necessary to be done in connection therewith, as fully for all intents and purposes as he or she might or could do in person, hereby ratifying and confirming all that said attorneys-in-fact and agents, or any of them, or their, his or her substitutes, may lawfully do or cause to be done by virtue hereof.

Pursuant to the requirements of the Securities Act of 1933, this registration statement has been signed by the following persons in the capacities and on the dates indicated:

 

Signature	  	Title	  	Date
/s/ Jack Dorsey Jack Dorsey	  	Block Head and Chairperson (Principal Executive Officer)	  	June 23, 2025
/s/ Amrita Ahuja Amrita Ahuja	  	Chief Financial Officer & Chief Operating Officer (Principal Financial Officer)	  	June 23, 2025
/s/ Ajmere Dale Ajmere Dale	  	Chief Accounting Officer (Principal Accounting Officer)	  	June 23, 2025
/s/ Roelof Botha Roelof Botha	  	Director	  	June 23, 2025
/s/ Amy Brooks Amy Brooks	  	Director	  	June 23, 2025
/s/ Shawn Carter Shawn Carter	  	Director	  	June 23, 2025
/s/ Paul Deighton Paul Deighton	  	Director	  	June 23, 2025
/s/ Anthony Eisen Anthony Eisen	  	Director	  	June 23, 2025
/s/ Randy Garutti Randy Garutti	  	Director	  	June 23, 2025

Signature	  	Title	  	Date
/s/ Jim McKelvey Jim McKelvey	  	Director	  	June 23, 2025
/s/ Mary Meeker Mary Meeker	  	Director	  	June 23, 2025
/s/ Neha Narula Neha Narula	  	Director	  	June 23, 2025