Block, Inc.
For the period ended Dec 31, 2025. Filed Feb 26, 2026.
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A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.
FY2025 · Filed Feb 26, 2026
XYZ$85.58-3.4%Stored close · as of Nov 10, 2026
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Item 15. Exhibits, Financial Statement Schedules
(a) The following documents are filed as a part of this Annual Report on Form 10-K:
(1)Consolidated Financial Statements:
Our Consolidated Financial Statements are listed in the “Index to Consolidated Financial Statements” under Part II, Item 8 of this Annual Report on Form 10-K.
(2)Financial Statement Schedules:
Schedules not listed above have been omitted because the information required to be set forth therein is not applicable or is shown in the financial statements or notes herein.
(3)Exhibits
The documents listed in the following Exhibit Index of this Annual Report on Form 10-K are incorporated by reference or are filed with this Annual Report on Form 10-K, in each case as indicated therein (numbered in accordance with Item 601 of Regulation S-K):
EXHIBIT INDEX
| Incorporated by Reference | |||||
|---|---|---|---|---|---|
| Exhibit Number | Description | Form | File No. | Exhibit | Filing Date |
| 3.1 | Amended and Restated Certificate of Incorporation of the Registrant, as amended. | 10-K | 001-37622 | 3.1 | February 24, 2022 |
| 3.2 | Amended and Restated Bylaws of the Registrant. | 8-K | 001-37622 | 3.1 | October 21, 2022 |
| 4.1 | Indenture, dated November 13, 2020, between the Registrant and The Bank of New York Mellon Trust Company, N.A. (2026 Convertible Notes). | 8-K | 001-37622 | 4.1 | November 13, 2020 |
| 4.2 | Supplemental Indenture, dated January 21, 2025, between the Registrant and The Bank of New York Mellon Trust Company, N.A. (2026 Convertible Notes). | 10-K | 001-37622 | 4.6 | February 24, 2025 |
| 4.3 | Form of 0% Convertible Senior Note due 2026 (included in Exhibit 4.5). | 8-K | 001-37622 | 4.2 | November 13, 2020 |
| 4.4 | Indenture, dated November 13, 2020, between the Registrant and The Bank of New York Mellon Trust Company, N.A. (2027 Convertible Notes). | 8-K | 001-37622 | 4.3 | November 13, 2020 |
| 4.5 | Supplemental Indenture, dated January 21, 2025, between the Registrant and The Bank of New York Mellon Trust Company, N.A. (2027 Convertible Notes). | 10-K | 001-37622 | 4.9 | February 24, 2025 |
| 4.6 | Form of 0.25% Convertible Senior Note due 2027 (included in Exhibit 4.8). | 8-K | 001-37622 | 4.4 | November 13, 2020 |
| 4.7 | Indenture, dated as of May 20, 2021, by and between Square, Inc. and Bank of New York Mellon Trust Company, N.A., as Trustee (2.75% Senior Notes due 2026). | 8-K | 001-37622 | 4.1 | May 20, 2021 |
| 4.8 | Form of 2.75% Senior Note due 2026 (included in Exhibit 4.11). | 8-K | 001-37622 | 4.2 | May 20, 2021 |
| 4.9 | Indenture, dated as of August 18, 2025, by and between Block, Inc. and The Bank of New York Mellon Trust Company, N.A., as Trustee (5.625% Senior Notes due 2030). | 8-K | 001-37622 | 4.1 | August 18, 2025 |
| 4.10 | Form of 5.625% Senior Note due 2030 (included in Exhibit 4.10). | 8-K | 001-37622 | 4.2 | August 18, 2025 |
| 4.11 | Indenture, dated as of May 20, 2021 by and between Square, Inc. and Bank of New York Mellon Trust Company, N.A., as Trustee (3.50% Senior Notes due 2031). | 8-K | 001-37622 | 4.3 | May 20, 2021 |
| 4.12 | Form of 3.50% Senior Note due 2031 (included in Exhibit 4.13). | 8-K | 001-37622 | 4.4 | May 20, 2021 |
| Incorporated by Reference | |||||
|---|---|---|---|---|---|
| Exhibit Number | Description | Form | File No. | Exhibit | Filing Date |
| 4.13 | Indenture, dated as of May 9, 2024, by and between Block, Inc. and Bank of New York Mellon Trust Company, N.A., as Trustee (6.50% Senior Notes due 2032). | 8-K | 001-37622 | 4.1 | May 9, 2024 |
| 4.14 | Form of 6.50% Senior Note due 2032 (included in Exhibit 4.15). | 8-K | 001-37622 | 4.2 | May 9, 2024 |
| 4.15 | Indenture, dated as of August 18, 2025 by and between Block, Inc. and The Bank of New York Mellon Trust Company, N.A., as Trustee (6.000% Senior Notes due 2033). | 8-K | 001-37622 | 4.3 | August 18, 2025 |
| 4.16 | Form of 6.000% Senior Note due 2033 (included in Exhibit 4.16). | 8-K | 001-37622 | 4.4 | August 18, 2025 |
| 4.17 | Description of Class A Common Stock. | 10-K | 001-37622 | 4.17 | February 24, 2025 |
| 10.1+* | Form of Indemnification Agreement between the Registrant and each of its directors and executive officers. | S-1/A | 333-207411 | 10.1 | November 6, 2015 |
| 10.2.1+ | Block, Inc. 2025 Equity Incentive Plan. | S-8 | 333-288249 | 99.1 | June 23, 2025 |
| 10.2.2+ | Form of Restricted Stock Unit Award and Restricted Stock Unit Agreement (Directors). | S-8 | 333-288249 | 99.2 | June 23, 2025 |
| 10.2.3+ | Form of Restricted Stock Unit Award and Restricted Stock Unit Agreement (Employees). | S-8 | 333-288249 | 99.3 | June 23, 2025 |
| 10.2.4+ | Form of Restricted Stock Award and Restricted Stock Agreement. | S-8 | 333-288249 | 99.4 | June 23, 2025 |
| 10.2.5+ | Form of Stock Option Grant and Stock Option Agreement. | S-8 | 333-288249 | 99.5 | June 23, 2025 |
| 10.3.1+ | Block, Inc. 2015 Equity Incentive Plan, as amended and restated. | 10-K | 001-37622 | 10.2.1 | February 24, 2022 |
| 10.3.2+ | Form of Restricted Stock Unit Award and Restricted Stock Unit Agreement. | 10-K | 001-37622 | 10.2.2 | February 24, 2025 |
| 10.3.3+ | Form of Restricted Stock Award and Restricted Stock Agreement. | 10-K | 001-37622 | 10.2.3 | February 24, 2022 |
| 10.3.4+ | Form of Stock Option Grant and Stock Option Agreement. | 10-K | 001-37622 | 10.2.4 | February 24, 2025 |
| 10.4+ | Block, Inc. 2015 Employee Stock Purchase Plan as amended and restated. | 10-Q | 001-37622 | 10.6 | August 7, 2025 |
| 10.5+ | Square, Inc. Executive Incentive Compensation Plan. | S-1 | 333-207411 | 10.5 | October 14, 2015 |
| 10.6 | Block, Inc. Outside Director Compensation Policy, as amended and restated. | 10-K | 001-37622 | 10.6 | February 24, 2025 |
| 10.7+ | Form of Change of Control and Severance Agreement between the Registrant and certain of its executive officers. | S-1 | 333-207411 | 10.7 | October 14, 2015 |
| 10.8+ | Form of Change of Control and Severance Agreement between the Registrant and certain of its executive officers entered into on and after January 27, 2020. | 10-K | 001-37622 | 10.8 | February 22, 2024 |
| 10.9+ | Offer Letter between the Registrant and Jack Dorsey, dated as of March 7, 2016. | 10-K | 001-37622 | 10.8 | March 10, 2016 |
| 10.10+ | Offer Letter between the Registrant and Amrita Ahuja, dated as of December 16, 2018. | 8-K | 001-37622 | 10.1 | January 4, 2019 |
| 10.11 | Revolving Credit Agreement dated as of May 1, 2020 among the Registrant, the Lenders Party Thereto, and Goldman Sachs Bank USA, as Administrative Agent. | 8-K | 001-37622 | 10.1 | May 6, 2020 |
| 10.12 | First Amendment to Credit Agreement, dated as of May 28, 2020, among the Registrant, the Lenders Party Thereto, and Goldman Sachs Bank USA, as Administrative Agent. | 8-K | 001-37622 | 10.1 | June 3, 2020 |
| 10.13 | Second Amendment to Credit Agreement, dated as of November 9, 2020, among the Registrant, the Lenders Party Thereto, and Goldman Sachs Bank USA, as Administrative Agent. | 8-K | 001-37622 | 10.6 | November 10, 2020 |
| 10.14 | Third Amendment to Credit Agreement, dated as of January 28, 2021, by and among the Registrant, the Lenders party thereto, and Goldman Sachs Bank USA, as Administrative Agent. | 8-K | 001-37622 | 10.1 | February 3, 2021 |
| 10.15 | Fourth Amendment to Credit Agreement, dated as of May 25, 2021, by and among Square, Inc., the lenders party thereto, and Goldman Sachs Bank USA, as Administrative Agent. | 8-K | 001-37622 | 10.1 | May 26, 2021 |
| Incorporated by Reference | |||||
|---|---|---|---|---|---|
| Exhibit Number | Description | Form | File No. | Exhibit | Filing Date |
| 10.16 | Fifth Amendment to Credit Agreement, dated as of January 28, 2022, by and among Block, Inc., the lenders party thereto, and Goldman Sachs Bank USA, as Administrative Agent. | 8-K | 001-37622 | 10.1 | January 31, 2022 |
| 10.17 | Sixth Amendment to Credit Agreement, dated as of February 23, 2022, by and among Block, Inc., the lenders party thereto, and Goldman Sachs Bank USA, as Administrative Agent. | 10-K | 001-37622 | 10.21 | February 24, 2022 |
| 10.18 | Seventh Amendment to Credit Agreement, dated as of June 9, 2023, among Block, Inc., the lenders party thereto and Goldman Sachs Bank USA, as Administrative Agent. | 8-K | 001-37622 | 10.1 | June 9, 2023 |
| 10.19 | Eighth Amendment to Credit Agreement, dated as of March 29, 2024, among Block, Inc., the lenders that are party thereto and Goldman Sachs Bank USA, as Administrative Agent. | 8-K | 001-37622 | 10.1 | April 1, 2024 |
| 10.20 | Amended and Restated Revolving Credit Agreement, dated as of January 14, 2026, among the Company, the Lenders Party Thereto, and Goldman Sachs Bank USA, as Administrative Agent. | 8-K | 001-37622 | 10.1 | January 14, 2026 |
| 10.21 | Form of Convertible Note Hedge Confirmation. | 8-K | 001-37622 | 10.2 | May 25, 2018 |
| 10.22 | Form of Warrant Confirmation. | 8-K | 001-37622 | 10.3 | May 25, 2018 |
| 10.23 | Form of Convertible Note Hedge Confirmation. | 8-K | 001-37622 | 10.2 | March 5, 2020 |
| 10.24 | Form of Warrant Confirmation. | 8-K | 001-37622 | 10.3 | March 5, 2020 |
| 10.25 | Form of Convertible Note Hedge Confirmation (2026 Convertible Notes). | 8-K | 001-37622 | 10.2 | November 10, 2020 |
| 10.26 | Form of 2026 Warrant Confirmation. | 8-K | 001-37622 | 10.4 | November 10, 2020 |
| 10.27 | Form of Convertible Note Hedge Confirmation (2027 Convertible Notes). | 8-K | 001-37622 | 10.3 | November 10, 2020 |
| 10.28 | Form of 2027 Warrant Confirmation. | 8-K | 001-37622 | 10.5 | November 10, 2020 |
| 19.1 | Block, Inc. Insider Trading Policy and Guidelines with Respect to Certain Transactions in Securities. | 10-K | 001-37622 | 19.1 | February 24, 2025 |
| 21.1* | List of subsidiaries of the Registrant. | ||||
| 23.1* | Consent of Independent Registered Public Accounting Firm. | ||||
| 31.1* | Certification of Principal Executive Officer pursuant to Exchange Act Rules 13a-14(a) and 15d-14(a), as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002. | ||||
| 31.2* | Certification of Principal Financial Officer pursuant to Exchange Act Rules 13a-14(a) and 15d-14(a), as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002. | ||||
| 32.1†* | Certifications of Principal Executive Officer and Principal Financial Officer pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002. | ||||
| 97.1* | Financial Restatement Clawback Policy | ||||
| 101.INS | XBRL Instance Document – the instance document does not appear in the Interactive Data File because its XBRL tags are embedded within the Inline XBRL document. | ||||
| 101.SCH | Inline XBRL Taxonomy Extension Schema Document. | ||||
| 101.CAL | Inline XBRL Taxonomy Extension Calculation Linkbase Document. | ||||
| 101.DEF | Inline XBRL Taxonomy Extension Definition Linkbase Document. | ||||
| 101.LAB | Inline XBRL Taxonomy Extension Labels Linkbase Document. | ||||
| 101.PRE | Inline XBRL Taxonomy Extension Presentation Linkbase Document. | ||||
| 104 | Cover Page Interactive Data File (formatted as Inline XBRL and contained in Exhibit 101). | ||||
- Filed herewith.
- Indicates management contract or compensatory plan.
† The certifications attached as Exhibit 32.1 that accompany this Annual Report on Form 10-K are deemed furnished and not filed with the Securities and Exchange Commission and are not to be incorporated by reference into any filing of the Registrant under the Securities Act of 1933, as amended, or the Securities Exchange Act of 1934, as amended, whether made before or after the date of this Annual Report on Form 10-K, irrespective of any general incorporation language contained in such filing.
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