Treharne Olivia 4
4 · BlackRock Enhanced International Dividend Trust · Filed Feb 3, 2026
Research Summary
AI-generated summary of this filing
BGY Portfolio Manager Treharne Sells 6,791 Shares
What Happened
Olivia Treharne, a portfolio manager for BlackRock Enhanced International Dividend Trust (BGY), disposed of 6,791.01 shares to the issuer on Jan 30, 2026 at $5.98 per share, generating $40,610. The same day she was credited with a grant of 2,210.493 phantom shares (valued at $5.98 each, cash-settled) and several derivative exercise/conversion entries totaling additional phantom-share adjustments (2,817.561; 1,974.865; 1,998.584). The primary cash transaction reported was a sale to the issuer; the grants are phantom (cash-settled) awards rather than open-market purchases.
Key Details
- Transaction date: January 30, 2026 (reported on Form 4 filed Feb 3, 2026). No late filing indicator shown.
- Sale: 6,791.01 shares disposed to issuer at $5.98 each — proceeds reported as $40,610. (Code D = disposition to issuer.)
- Award: 2,210.493 phantom shares granted at $5.98 per share (value ≈ $13,219). Several derivative exercise/conversion entries (codes M) also reported the same day.
- Shares owned after transaction: not specified in the supplied excerpt.
- Footnotes: phantom shares are cash-settled equivalents of common shares that vest subject to schedules; grants from Jan 31, 2023/2024/2025 vest in equal installments over three years (see F1–F5).
Context
- Disposition to issuer (D) often reflects surrendering shares to the issuer to cover withholding or as part of a net settlement following an exercise; the filing shows a sale to the issuer rather than an open-market sale.
- Phantom shares are not stock ownership — they are cash awards tied to the share price and paid on vesting, so receiving them is different from buying stock.
- Multiple entries labeled "M" (exercise/conversion of derivative) indicate derivative adjustments or exercises that were net-settled or otherwise resulted in non-open-market disposition/awards rather than a straightforward share purchase.
Insider Transaction Report
- Exercise/Conversion
Common Stock
[F1][F2][F3][F4]2026-01-30+6,791.01→ 6,791.01 total - Disposition to Issuer
Common Stock
[F1][F2][F3][F4]2026-01-30$5.98/sh−6,791.01$40,610→ 0 total - Award
Phantom Shares
[F1][F5]2026-01-30$5.98/sh+2,210.493$13,219→ 2,210.493 total→ Common Stock (2,210.493 underlying) - Exercise/Conversion
Phantom Shares
[F1][F2]2026-01-30−2,817.561→ 5,635.121 total→ Common Stock (2,817.561 underlying) - Exercise/Conversion
Phantom Shares
[F1][F3]2026-01-30−1,974.865→ 1,974.865 total→ Common Stock (1,974.865 underlying) - Exercise/Conversion
Phantom Shares
[F1][F4]2026-01-30−1,998.584→ 0 total→ Common Stock (1,998.584 underlying)
Footnotes (5)
- [F1]A phantom share is the economic equivalent of one share of common stock and, subject to the applicable vesting requirements, becomes payable in cash.
- [F2]As previously reported on a Form 4 dated February 4, 2025, the Reporting Person was granted phantom shares on January 31, 2025 payable in cash on vesting, which occurs in equal installments on each of the first three anniversaries of the grant date.
- [F3]As 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.
- [F4]As 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.
- [F5]These phantom shares vest in equal installments on each of the first three anniversaries of the award.