Form 4: BlackRock MuniAssets Fund: Portfolio Manager Soccio Phillip Reports Transactions in Phantom Shares
SEC Form 4 Filing
Portfolio Manager Phillip Soccio reports transactions involving phantom shares of BlackRock MuniAssets Fund, including acquisitions and disposals related to vesting schedules.
Summary
- Phillip Soccio, a Portfolio Manager at BlackRock MuniAssets Fund, reported transactions involving the fund's common stock and phantom shares on January 31, 2025.
- These transactions include the acquisition and disposal of phantom shares, which are economic equivalents of common stock and payable in cash upon vesting.
- The reported transactions are related to the vesting of phantom shares granted in previous years (January 31, 2023 and January 31, 2024).
- Soccio directly owns 237.8432 shares of common stock after the reported transactions.
- He also owns 407.2398 phantom shares after the reported transactions.
Sentiment
Score: 5
Explanation: The document is a routine regulatory filing, so the sentiment is neutral.
Industry Context
Form 4 filings are a routine part of regulatory compliance for individuals with insider access to publicly traded companies. They provide transparency into the transactions of company insiders, allowing investors to monitor potential conflicts of interest or significant shifts in ownership.
Comparison to Industry Standards
- Form 4 filings are standard practice across all publicly listed companies in the US, ensuring transparency of insider trading activities.
- Similar filings are made by executives and directors at companies like PIMCO, Invesco, and Franklin Templeton when they trade shares of their respective funds.
- The reporting requirements are governed by Section 16(a) of the Securities Exchange Act of 1934, ensuring a level playing field for all investors.
Stakeholder Impact
- The transactions are unlikely to have a significant impact on stakeholders, as they relate to the vesting of phantom shares previously granted to a portfolio manager.
Key Dates
| Date | Description |
|---|---|
| 01/31/2023 | Date of previous phantom share grant, vesting in equal installments over three years. |
| 02/02/2023 | Date of Form 4 filing reporting phantom share grant on January 31, 2023. |
| 01/31/2024 | Date of previous phantom share grant, vesting in equal installments over three years. |
| 02/02/2024 | Date of Form 4 filing reporting phantom share grant on January 31, 2024. |
| 01/31/2025 | Date of reported transactions involving common stock and phantom shares. |
| 02/04/2025 | Date of Form 4 filing. |
Keywords
Form 4, BlackRock MuniAssets Fund, Phantom Shares, Beneficial Ownership, Soccio Phillip, Portfolio Manager, Transactions, Vesting
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