Treharne Olivia 4

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.