Form 4: BlackRock Taxable Municipal Bond Trust: Portfolio Manager's Beneficial Ownership Changes
SEC Form 4
Michael Kalinoski, a Portfolio Manager at BlackRock Taxable Municipal Bond Trust, reports changes in beneficial ownership of common stock and phantom shares.
Summary
- On January 31, 2025, Michael Kalinoski, a Portfolio Manager at BlackRock Taxable Municipal Bond Trust (BBN), reported transactions involving common stock and phantom shares.
- Kalinowski acquired 128.3706 shares of common stock and disposed of 128.3706 shares at a price of $16.53.
- Following these transactions, Kalinoski directly owns 1,523.9 shares of common stock.
- He also reported transactions involving phantom shares, including acquisitions and disposals related to vesting schedules from grants in 2022, 2023 and 2024.
- The phantom shares are the economic equivalent of common stock and are payable in cash upon vesting, which occurs 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 changes in beneficial ownership by a company insider, which is a common practice in the financial industry to ensure transparency and compliance with SEC regulations.
Stakeholder Impact
- The filing provides transparency to shareholders regarding the holdings and transactions 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 3, 2022 | Previously reported on a Form 4 dated February 3, 2022, the Reporting Person was granted phantom shares on January 31, 2022 payable in cash on vesting, which occurs in equal installments on each of the first three anniversaries of the grant date. |
| January 31, 2023 | 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, 2023 | Previously reported on a Form 4 dated February 2, 2023, the Reporting Person was granted phantom shares on January 31, 2023 payable in cash on vesting, which occurs in equal installments on each of the first three anniversaries of the grant date. |
| 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 | Previously reported on a Form 4 dated February 2, 2024, the Reporting Person was granted phantom shares on January 31, 2024 payable in cash on vesting, which occurs in equal installments on each of the first three anniversaries of the grant date. |
| January 31, 2025 | Date of the reported transactions involving common stock and phantom shares. |
| February 4, 2025 | Date of the Form 4 filing. |
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