Form 4: BlackRock Floating Rate Income Trust: Portfolio Manager Garfin Mitchell Reports Transaction in Phantom Shares
SEC Form 4 Filing
Portfolio Manager Garfin Mitchell reports activity involving phantom shares of BlackRock Floating Rate Income Trust, including acquisition and disposal, with vesting occurring over three years.
Summary
- On January 31, 2025, Garfin Mitchell, a Portfolio Manager at BlackRock Floating Rate Income Trust, engaged in transactions involving the company's common stock and phantom shares.
- Mitchell acquired 1,808.2218 shares of common stock and disposed of the same amount at a price of $12.74 per share.
- Additionally, Mitchell acquired 8,277.0801 phantom shares and disposed of 1,808.2218 phantom shares.
- After these transactions, Mitchell directly owns 0 shares of common stock and 3,616.4436 phantom shares.
- The phantom shares vest in equal installments over three years and are payable in cash.
Sentiment
Score: 5
Explanation: The document is a routine regulatory filing detailing transactions by a company insider. It doesn't inherently convey positive or negative sentiment.
Industry Context
Form 4 filings are standard practice for reporting changes in beneficial ownership by company insiders, providing transparency to investors.
Stakeholder Impact
- The transactions may have a minor impact on shareholders due to the change in ownership of phantom shares by a key employee.
Key Dates
| Date | Description |
|---|---|
| 01/31/2024 | Reporting Person was granted phantom shares payable in cash on vesting, which occurs in equal installments on each of the first three anniversaries of the grant date. |
| 02/02/2024 | Date of previously reported Form 4. |
| 01/31/2025 | Date of the reported transactions: acquisition and disposal of common stock and phantom shares. |
| 02/04/2025 | Date of signature on the Form 4 filing. |
Keywords
Form 4, Beneficial Ownership, Phantom Shares, Garfin Mitchell, BlackRock Floating Rate Income Trust, BGT, Portfolio Manager, Transaction
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