Mehring Jason 4

What Happened
Jason Mehring, President of BlackRock TCP Capital (TCPC), exercised/converted derivative awards and had 5,597.69 shares disposed to the issuer on Jan 30, 2026 for $5.18 per share, generating $28,996. On the same date he was granted/received 2,702.7 derivative phantom shares valued at $5.18 each (total $14,000). The filing also reports conversions/exercises of 4,148.01 and 1,449.68 derivative shares that were recorded as dispositions (no price listed).

Key Details

• Transaction date: 2026-01-30; Form 4 filed 2026-02-03 (timely filing).
• Sale/Disposition: 5,597.69 shares to issuer at $5.18 — proceeds $28,996. (Code D)
• Award/Grant: 2,702.7 derivative phantom shares at $5.18 — reported value $14,000. (Code A)
• Exercise/conversion entries: 4,148.01 and 1,449.68 derivative shares recorded as exercises/conversions (Code M) and shown as dispositions; no per‑share cash price listed for those lines.
• Shares owned after transaction: not specified in the provided filing excerpt.
• Notable footnotes: reporting includes dividend reinvestment in beneficial ownership (F1); the reported derivatives are "phantom shares" — cash‑payable equivalents that vest in installments per prior grants (F2–F5).

Context
The filing shows exercises/conversions of derivative/phantom awards and a disposition back to the issuer (i.e., shares surrendered/settled with the company) rather than an open‑market sale. Phantom shares are cash‑settled awards that vest over time; the filing notes prior phantom grants vest in equal installments over three years. These actions are routine settlement/award transactions and do not necessarily indicate the insider’s view on the company’s stock.