Form 4: BlackRock Science & Technology Term Trust: Portfolio Manager Settles Phantom Shares
SEC Form 4
Christopher Accettella, a Portfolio Manager at BlackRock Science & Technology Term Trust, reports the settlement of phantom shares into cash.
Summary
- On January 31, 2025, Christopher Accettella, a Portfolio Manager at BlackRock Science & Technology Term Trust [BSTZ], settled phantom shares previously granted in 2022 and 2024.
- The transactions involved the settlement of 151.5961 and 134.184 phantom shares, which are economic equivalents of common stock, into cash.
- Additionally, 285.7802 common stock shares were disposed of at a price of $21.17.
- Following these transactions, Accettella directly owns 0 shares of common stock and 303.1923 phantom shares.
Sentiment
Score: 5
Explanation: The document is a standard regulatory filing detailing transactions by a company insider. It doesn't inherently convey positive or negative sentiment.
Industry Context
This Form 4 filing is a routine disclosure related to changes in beneficial ownership by a company insider. It provides transparency into the transactions of company executives and their holdings in the company's stock.
Comparison to Industry Standards
- Form 4 filings are standard practice for publicly traded companies and their insiders.
- The reporting requirements are governed by Section 16(a) of the Securities Exchange Act of 1934.
- Similar filings are made by insiders at companies like Apple (AAPL), Microsoft (MSFT), and Tesla (TSLA) when they trade their company's stock.
Stakeholder Impact
- The transactions reported may have a minor impact on shareholders due to the change in ownership by a company insider.
- The settlement of phantom shares represents compensation to the reporting person.
Key Dates
| Date | Description |
|---|---|
| February 3, 2022 | Date of Form 4 reporting phantom shares granted on January 31, 2022. |
| February 2, 2024 | Date of Form 4 reporting phantom shares granted on January 31, 2024. |
| January 31, 2025 | Date of transaction: Settlement of phantom shares and disposal of common stock. |
| February 4, 2025 | Date of signature for the Form 4 filing. |
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