Form 4: BlackRock Ltd Duration Income Trust: Portfolio Manager Mitchell Garfin Reports Transaction in Phantom Shares
SEC Form 4 Filing
Portfolio Manager Mitchell Garfin reports the acquisition and disposal of phantom shares related to BlackRock Ltd Duration Income Trust common stock on January 31, 2025.
Summary
- Mitchell Garfin, a Portfolio Manager at BlackRock Ltd Duration Income Trust, reported transactions involving phantom shares on January 31, 2025.
- Garfin acquired 7,348.4321 phantom shares, each representing the economic equivalent of one share of common stock.
- He also disposed of 1,728.6849 phantom shares at a price of $14.35.
- Following these transactions, Garfin beneficially owns 7,348.4321 derivative securities and no common stock.
- The phantom shares vest in equal installments over three years from the grant date.
Sentiment
Score: 5
Explanation: The document is a standard regulatory filing, so the sentiment is neutral.
Industry Context
This filing is a routine disclosure related to insider transactions, specifically concerning phantom shares, which are common in executive compensation packages within the financial services industry.
Stakeholder Impact
- The transaction has minimal direct impact on stakeholders as it involves phantom shares, which are part of the executive compensation structure.
Key Dates
| Date | Description |
|---|---|
| 02/02/2023 | Date of previously reported Form 4 regarding phantom shares granted on January 31, 2023. |
| 01/31/2023 | 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 on the Form 4 filing. |
Keywords
Form 4, BlackRock Ltd Duration Income Trust, Phantom Shares, Mitchell Garfin, Portfolio Manager, Beneficial Ownership, Securities Transaction
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