Form 4: BlackRock Capital Allocation Term Trust: Portfolio Manager's Transactions in Phantom Shares
SEC Form 4 Filing
Portfolio Manager Randy William Berkowitz reports transactions involving phantom shares of BlackRock Capital Allocation Term Trust, including acquisition and disposal, on January 31, 2025.
Summary
- Randy William Berkowitz, a Portfolio Manager at BlackRock Capital Allocation Term Trust, filed a Form 4 detailing changes in beneficial ownership.
- On January 31, 2025, Berkowitz engaged in transactions involving phantom shares, acquiring 1,710.6796 phantom shares and disposing of 2,376.6015 phantom shares.
- These phantom shares are the economic equivalent of common stock and are payable in cash upon vesting.
- The transactions occurred at a price of $15.45 per share.
- Following these transactions, Berkowitz directly owns 0 common stock shares and 4,753.203 phantom shares.
Sentiment
Score: 5
Explanation: The document is a routine regulatory filing, so the sentiment is neutral.
Industry Context
Form 4 filings are standard practice for insiders like portfolio managers to report their transactions in company securities, ensuring transparency and compliance with SEC regulations.
Comparison to Industry Standards
- Form 4 filings are a standard regulatory requirement for company insiders in the US, ensuring transparency in trading activities.
- Similar filings are expected from insiders at comparable investment firms like PIMCO, Franklin Templeton, and T. Rowe Price when they trade in their respective funds' securities.
- The reporting of phantom share transactions is consistent with industry best practices for disclosing equity-based compensation and ownership.
Stakeholder Impact
- The filing provides transparency to shareholders regarding the portfolio manager's holdings and transactions.
- It assures stakeholders that insider transactions are being monitored and reported in compliance with regulations.
Key Dates
| Date | Description |
|---|---|
| 02/02/2024 | Date of previously reported Form 4 regarding phantom shares granted on January 31, 2024. |
| 01/31/2024 | Date phantom shares were granted, payable in cash on vesting. |
| 01/31/2025 | Date of the reported transactions: acquisition and disposal of phantom shares. |
| 02/04/2025 | Date of signature for the Form 4 filing. |
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