Form 4: BlackRock Long-Term Municipal Advantage Trust: Portfolio Manager Reports Transaction in Phantom Shares
SEC Form 4 Filing
Kevin Maloney, a Portfolio Manager at BlackRock Long-Term Municipal Advantage Trust, reports a transaction involving phantom shares that are the economic equivalent of common stock.
Summary
- On January 31, 2025, Kevin Maloney, a Portfolio Manager at BlackRock Long-Term Municipal Advantage Trust (BTA), reported a transaction involving common stock and phantom shares.
- Maloney acquired 41.0927 shares of common stock.
- Maloney disposed of 41.0927 shares of common stock at a price of $9.89.
- The filing also details a transaction involving phantom shares, which are the economic equivalent of one share of common stock and payable in cash upon vesting.
- The phantom shares were granted on January 31, 2023, and vest in equal installments over three years.
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 of publicly traded companies to report transactions in their company's securities, ensuring transparency and compliance with SEC regulations.
Stakeholder Impact
- The transaction provides transparency to shareholders regarding the portfolio manager's holdings and transactions.
Key Dates
| Date | Description |
|---|---|
| 01/31/2023 | 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. |
| 01/31/2025 | Date of transaction involving common stock and phantom shares. |
| 02/02/2023 | Date of previously reported Form 4. |
| 02/04/2025 | Date of signature on the report. |
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