SCHEDULE: BlackRock Delegates Authority for SEC Filings

BlackRock Portfolio Management LLC has issued a power of attorney to a group of individuals to execute necessary filings related to ownership and control reporting requirements.

Summary

• BlackRock Portfolio Management LLC, a Delaware-based limited liability company, has established a power of attorney.
• This power of attorney designates specific individuals to act on behalf of the company and its subsidiaries.
• The purpose is to execute documents, statements, and filings required by regulatory authorities, including Schedules 13D, 13G, and Forms 3, 4, 5, 13F, 13H, SHO, and N-PX.
• This delegation is specifically for compliance with ownership or control-person reporting requirements.
• The power of attorney revokes a previous one dated January 28, 2025, and is effective from July 1, 2025.
• It remains in effect until revoked in writing or until the appointed attorney-in-fact ceases to be an employee of BlackRock or its affiliates.
• The filing also includes a Schedule 13G for Calamos Global Dynamic Income Fund, where BlackRock Portfolio Management LLC shares beneficial ownership of 440,000 Series H Mandatory Redeemable Preferred Shares, representing 38.6% of the class.

Sentiment

Score: 3

Explanation: StockSavvy.ai views this filing as neutral to slightly negative, as it primarily concerns a routine delegation of authority for regulatory filings rather than significant operational or financial news.

Positives

• Clear delegation of authority ensures continued compliance with regulatory reporting obligations.
• The power of attorney is comprehensive, covering a wide range of necessary SEC filings.
• The Schedule 13G filing indicates a significant, though shared, beneficial ownership stake in Calamos Global Dynamic Income Fund's preferred shares.

Negatives

• The filing itself does not contain any new financial performance data or strategic initiatives.
• The revocation of a prior power of attorney might suggest internal restructuring or personnel changes, though details are not provided.

Risks

• Potential for errors or omissions in filings if the appointed attorneys-in-fact are not diligent.
• Reliance on individuals to accurately interpret and execute complex regulatory requirements.
• The significant ownership percentage (38.6%) in Calamos Global Dynamic Income Fund's preferred shares could imply concentrated risk if the fund underperforms.

Future Outlook

The filing does not contain specific forward-looking statements or guidance regarding future financial performance. The primary outlook relates to the ongoing execution of regulatory filings through the appointed attorneys-in-fact.

Management Comments

• "Any such determination by an attorney-in-fact named herein shall be conclusively evidenced by such persons execution, delivery, furnishing or filing of the applicable document."
• "This power of attorney shall expressly revoke the power of attorney dated 28th day of January, 2025 in respect of the subject matter hereof, shall be valid from the date hereof and shall remain in full force and effect until either revoked in writing by the Company, or, in respect of any attorney-in-fact named herein, until such person ceases to be an employee of the Company or one of its affiliates."
• "BlackRock Portfolio Management LLC Signature:/s/ Joseph Virgilio Name/Title:Joseph Virgilio, Attorney-in-fact Date:09/08/2026"

Industry Context

StockSavvy.ai notes that the delegation of authority for SEC filings is a standard practice for large asset managers like BlackRock to ensure efficient and compliant handling of regulatory requirements across their diverse portfolios. The Schedule 13G filing itself is a common disclosure for significant beneficial ownership.

Comparison to Industry Standards

• Large asset managers routinely use powers of attorney to delegate authority for regulatory filings, a practice standard across the investment management industry.
• The Schedule 13G filing is a standard disclosure for beneficial ownership exceeding 5% of a class of securities, common among institutional investors.
• The specific percentage of ownership (38.6%) in a preferred share class of a specific fund (Calamos Global Dynamic Income Fund) is unique to this filing and its context.

Corporate Governance

Stakeholder Impact

• Shareholders of Calamos Global Dynamic Income Fund: The filing confirms BlackRock's significant beneficial ownership, which can influence market perception and trading activity of the Series H Preferred Shares.
• Regulatory Authorities: Ensures continued compliance with reporting requirements, maintaining transparency.
• Employees of BlackRock: Specific individuals are granted authority, impacting their responsibilities related to regulatory compliance.

Next Steps

• Attorneys-in-fact will execute necessary documents for ownership and control-person reporting requirements.
• BlackRock Portfolio Management LLC will continue to manage its beneficial ownership of Calamos Global Dynamic Income Fund's Series H Mandatory Redeemable Preferred Shares.

Key Dates

Keywords

Power of Attorney, SEC Filings, Regulatory Compliance, Ownership Reporting, BlackRock, Calamos Global Dynamic Income Fund, Schedule 13G, Preferred Shares