Cucunato Jeffrey 4

4 · BLACKROCK CREDIT ALLOCATION INCOME TRUST · Filed Feb 3, 2026

AI-generated summary of this filing

Updated Feb 3, 2026

BTZ Portfolio Manager Jeffrey Cucunato Sells Shares, Receives Award

What Happened

Jeffrey Cucunato, a portfolio manager for BlackRock Credit Allocation Income Trust (BTZ), reported multiple related transactions on January 30, 2026. The filing shows a disposition to the issuer of 10,433.134 shares for $10.64/share ($111,009) and a grant/award of 15,809.211 phantom shares valued at $10.64/share ($168,210). The report also records several derivative exercises/conversions (M) totaling 10,433.134 phantom-share units that were converted/disposed on the same date (individual conversions of 4,088.546; 3,036.226; and 3,308.362 units).

Key Details

Transaction date: January 30, 2026. Filing date (SEC accession): February 3, 2026.
Sale/disposition: 10,433.134 shares disposed to the issuer at $10.64 per share, proceeds reported as $111,009.
Award/grant: 15,809.211 phantom shares granted at $10.64 per share, value reported as $168,210 (derivative award).
Derivative activity: Three exercise/conversion entries (codes M) totaling 10,433.134 phantom-share units, and one disposition to the issuer (code D) for the same total — all on 1/30/2026. Several other exercise/conversion entries list N/A for per-share price (typical for cash-settled derivatives).
Shares owned after the transactions: Not specified in the provided excerpt of the filing.
Footnotes: Phantom shares are cash-settled equivalents of common shares and vest per previously reported grants (vest in equal installments on each of the first three anniversaries for grants from 2023–2025).
No 10b5-1 plan, tax-withholding method, or late-filing flag is indicated in the provided details.

Context

These were not open-market purchases — the activity mainly involves cash-settled "phantom" share awards and conversions. Phantom shares represent a right to receive cash based on share value upon vesting rather than issuance of actual stock (see footnotes).
The filing shows both an award (a potential future cash payout on vesting) and contemporaneous conversions/dispositions to the issuer (which often reflect cash settlement or share-for-cash mechanics). The filing itself does not explain the exact business reason (e.g., tax withholding or settlement) for the disposition to the issuer.

Form 4

Period: 2026-01-30

Other

Transactions

Exercise/Conversion
Common Stock
[F1][F2][F3][F4]
2026-01-30+10,433.134→ 10,433.134 total
Disposition to Issuer
Common Stock
[F1][F2][F3][F4]
2026-01-30$10.64/sh−10,433.134$111,009→ 0 total
Award
Phantom Shares
[F1][F5]
2026-01-30$10.64/sh+15,809.211$168,210→ 15,809.211 total
→ Common Stock (15,809.211 underlying)
Exercise/Conversion
Phantom Shares
[F1][F2]
2026-01-30−4,088.546→ 8,177.091 total
→ Common Stock (4,088.546 underlying)
Exercise/Conversion
Phantom Shares
[F1][F3]
2026-01-30−3,036.226→ 3,036.226 total
→ Common Stock (3,036.226 underlying)
Exercise/Conversion
Phantom Shares
[F1][F4]
2026-01-30−3,308.362→ 0 total
→ Common Stock (3,308.362 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.

Signature

/s/ Gladys Chang as Attorney-in-Fact|2026-02-03

1 file