Form 4: BlackRock Science & Technology Term Trust: Portfolio Manager Tony Kim Reports Transactions in Common Stock and Phantom Shares
SEC Form 4 Filing
Portfolio Manager Tony Kim reports acquisition and disposal of common stock and phantom shares in BlackRock Science & Technology Term Trust on January 31, 2025.
Summary
- Tony Kim, a Portfolio Manager at BlackRock Science & Technology Term Trust, filed a Form 4 detailing changes in beneficial ownership.
- On January 31, 2025, Kim acquired 11,713.8947 shares of common stock.
- On the same day, Kim disposed of 11,713.8947 shares of common stock at a price of $21.17.
- Kim also reported transactions involving phantom shares, which are economic equivalents of common stock payable in cash upon vesting.
- Kim acquired 25,873.094 phantom shares that vest in equal installments on the first three anniversaries of the award.
- Additionally, Kim disposed of 5,023.3307 and 6,690.5639 phantom shares related to grants from January 31, 2024, and January 31, 2022, respectively.
- Following these transactions, Kim directly owns 164,403.64 shares of common stock and various amounts of phantom shares.
Sentiment
Score: 5
Explanation: The document is a standard SEC filing detailing insider transactions, which carries a neutral sentiment.
Industry Context
Form 4 filings are a routine part of compliance for insiders at publicly traded companies, providing transparency into their trading activities. This filing indicates the transactions of a portfolio manager at a closed-end fund focused on science and technology.
Stakeholder Impact
- The filing provides transparency to shareholders regarding the trading activities of a key employee.
Key Dates
| Date | Description |
|---|---|
| January 31, 2022 | 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. |
| February 2, 2022 | Date of Form 4 filing reporting phantom share grant on January 31, 2022. |
| January 31, 2024 | 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. |
| February 2, 2024 | Date of Form 4 filing reporting phantom share grant on January 31, 2024. |
| January 31, 2025 | Date of reported transactions: acquisition and disposal of common stock and phantom shares. |
| February 4, 2025 | Date of Form 4 filing. |
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