Form 4: BlackRock TCP Capital Corp.: Co-Chief Investment Officer Reports Phantom Share Transactions
SEC Filing Form 4
August Daniel Worrell, Co-Chief Investment Officer of BlackRock TCP Capital Corp., reports transactions involving phantom shares related to the company's Involuntary Deferred Compensation Plan.
Summary
- August Daniel Worrell, the Co-Chief Investment Officer of BlackRock TCP Capital Corp. (TCPC), filed a Form 4 detailing changes in beneficial ownership.
- The report covers transactions related to phantom shares granted under the Issuer's Involuntary Deferred Compensation Plan.
- On January 31, 2025, Worrell had transactions involving 6,777.75 and 10,201 phantom shares, which are economic equivalents of common stock shares and payable in cash upon vesting.
- Following the reported transactions, Worrell directly owns 30,603 and 20,402 phantom shares respectively.
- The phantom shares were granted on January 31, 2022 and January 31, 2024, and vest in equal installments over three years from the grant date.
Sentiment
Score: 5
Explanation: This is a routine regulatory filing, so the sentiment is neutral.
Positives
- The document provides transparency into the compensation structure for key executives at BlackRock TCP Capital Corp.
Industry Context
Form 4 filings are a standard part of regulatory compliance for publicly traded companies, providing transparency into the transactions of company insiders.
Stakeholder Impact
- Shareholders can use this information to understand executive compensation and alignment with company performance.
Key Dates
| Date | Description |
|---|---|
| 01/31/2022 | Reporting Person was granted phantom shares payable in cash upon vesting pursuant to the Issuer's Involuntary Deferred Compensation Plan, which occurred in equal installments on each of the first three anniversaries of the grant date. |
| 01/31/2024 | Reporting Person was granted phantom shares payable in cash upon vesting pursuant to the Issuer's Involuntary Deferred Compensation Plan, which occurs in equal installments on each of the first three anniversaries of the grant date. |
| 01/31/2025 | Date of phantom share transactions. |
| 02/06/2025 | Date of signature on the Form 4 filing. |
Keywords
Form 4, BlackRock TCP Capital Corp, TCPC, phantom shares, beneficial ownership, August Daniel Worrell, Co-Chief Investment Officer, Involuntary Deferred Compensation Plan
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