Form 4: BlackRock Credit Allocation Income Trust: Portfolio Manager's Transactions in BTZ
SEC Form 4 Filing
Jeffrey Cucunato, a Portfolio Manager at BlackRock Credit Allocation Income Trust, reports transactions involving common stock and phantom shares of BTZ on January 31, 2025.
Summary
- On January 31, 2025, Jeffrey Cucunato, a Portfolio Manager at BlackRock Credit Allocation Income Trust (BTZ), engaged in transactions involving the company's common stock and phantom shares.
- Cucunato acquired 8,023.9824 shares of common stock.
- He also disposed of 8,023.9824 shares of common stock at a price of $10.8 per share.
- Additionally, Cucunato acquired 11,170.5556 phantom shares, which are economic equivalents of common stock and payable in cash upon vesting.
- He also had phantom shares vest, resulting in the disposal of 2,765.1508, 3,012.99 and 2,245.8416 phantom shares related to grants from 2024, 2023 and 2022 respectively.
- Following these transactions, Cucunato directly owns 6,100 shares of common stock and 11,170.5556, 5,530.3015, 3,012.99 and 0 phantom shares related to grants from 2025, 2024, 2023 and 2022 respectively.
Sentiment
Score: 5
Explanation: The sentiment is neutral as the document simply reports transactions without indicating any positive or negative implications for the company's performance.
Industry Context
This filing is a routine disclosure of insider transactions, which are common in the financial industry. It provides transparency into the trading activities of key personnel at BlackRock Credit Allocation Income Trust.
Comparison to Industry Standards
- Form 4 filings are standard practice for reporting insider transactions in publicly traded companies, ensuring compliance with SEC regulations.
- Similar filings are made by officers and directors of other investment trusts and asset management firms, such as PIMCO, Eaton Vance, and Franklin Templeton, whenever they trade in their company's stock.
Stakeholder Impact
- The transactions may have a minor impact on shareholders by slightly altering the ownership structure.
- The vesting of phantom shares impacts the portfolio manager's compensation.
Key Dates
| Date | Description |
|---|---|
| 02/02/2022 | Previous Form 4 filing reporting phantom shares granted on January 31, 2022. |
| 02/03/2023 | Previous Form 4 filing reporting phantom shares granted on January 31, 2023. |
| 02/02/2024 | Previous Form 4 filing reporting phantom shares granted on January 31, 2024. |
| 01/31/2025 | Date of the reported transactions: acquisition and disposal of common stock and phantom shares. |
| 02/04/2025 | Date of the Form 4 filing. |
Keywords
Form 4, BlackRock Credit Allocation Income Trust, BTZ, Jeffrey Cucunato, Portfolio Manager, Common Stock, Phantom Shares, Beneficial Ownership, SEC Filing
Disclaimer:The information provided here is for general informational purposes only and does not constitute financial advice, recommendation, or endorsement of any kind. It may contain errors or omissions. You should not rely on this information to make financial decisions. Always seek the advice of a qualified financial professional before making any investment or financial decisions. Use of this information is at your own risk.