Form 4: BlackRock Science & Technology Term Trust: Portfolio Manager Reports Transactions in Phantom Shares
SEC Form 4 Filing
Steven Reid Menge, a Portfolio Manager at BlackRock Science & Technology Term Trust, reports transactions involving phantom shares, including acquisitions and disposals, on January 31, 2025.
Summary
- On January 31, 2025, Steven Reid Menge, a Portfolio Manager at BlackRock Science & Technology Term Trust, engaged in transactions involving the company's common stock and phantom shares.
- Menge acquired 2,199.6261 shares of common stock.
- Menge disposed of 2,199.6261 shares of common stock at a price of $21.17.
- He acquired 1,037.317 phantom shares, which are the economic equivalent of common stock and payable in cash upon vesting.
- He disposed of 1,228.1336 and 971.4925 phantom shares as part of vesting schedules from grants in 2024 and 2022 respectively.
- Following these transactions, Menge directly owns 0 shares of common stock and 2,456.2672 phantom shares.
Sentiment
Score: 5
Explanation: The sentiment is neutral as the document simply reports transactions by an insider, with no indication of positive or negative implications for the company.
Industry Context
This filing is a routine disclosure of transactions by a company insider, as required by the SEC. It provides transparency into the trading activities of key personnel at BlackRock Science & Technology Term Trust.
Stakeholder Impact
- The transactions have a minimal direct impact on stakeholders, as they involve phantom shares and a relatively small number of common stock shares.
Key Dates
| Date | Description |
|---|---|
| 01/31/2022 | Date of original grant of phantom shares that vest in equal installments on each of the first three anniversaries of the grant date. |
| 02/02/2022 | Date of Form 4 filing reporting the grant of phantom shares on January 31, 2022. |
| 01/31/2024 | Date of original grant of phantom shares that vest in equal installments on each of the first three anniversaries of the grant date. |
| 02/02/2024 | Date of Form 4 filing reporting the grant of phantom shares on January 31, 2024. |
| 01/31/2025 | Date of transactions involving common stock and phantom shares. |
| 02/04/2025 | Date of Form 4 filing. |
Keywords
Form 4, Beneficial Ownership, Phantom Shares, BlackRock Science & Technology Term Trust, BSTZ, Steven Reid Menge, Portfolio Manager, Transactions, Common Stock
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