Xie H Erin 4
4 · BlackRock Health Sciences Term Trust · Filed Feb 3, 2026
Research Summary
AI-generated summary of this filing
BlackRock Health Sciences (BMEZ) Portfolio Manager Xie H Erin Exercises and Sells Shares
What Happened Erin Xie, a portfolio manager at BlackRock Health Sciences Term Trust (BMEZ), reported multiple derivative transactions on 2026-01-30. She converted/exercised 25,676.274 derivative units that were disposed back to the issuer for $15.21 per unit, generating $390,536 in cash. At the same time she was recorded as acquiring a grant/award of 17,560.493 phantom shares valued at $15.21 each (total value $267,095). The filing also lists three additional derivative exercises/conversions (8,915.347; 8,861.551; and 7,899.377 units) reported without separate cash amounts.
Key Details
- Transaction date: January 30, 2026; Form 4 filed February 3, 2026 (timely filing).
- Cash disposition: 25,676.274 shares sold to issuer at $15.21 — proceeds reported $390,536.
- Award received: 17,560.493 phantom shares valued at $15.21 — reported value $267,095.
- Other derivative entries: exercises/conversions of 8,915.347; 8,861.551; and 7,899.377 units reported (no cash price listed).
- Footnotes: These are phantom-share awards (F1) that are cash-settled on vesting; prior grants from Jan 31 of 2023–2025 vest in equal installments over three years (F2–F5).
- Shares owned after the transactions are not specified in the filing.
Context Phantom shares are a form of deferred cash compensation tied to the company’s common-stock value; they do not represent actual stock ownership and are payable in cash on vesting. In this case the conversion and immediate disposition to the issuer indicate a cash settlement of vested phantom units (similar to exercising a cash-settled derivative), while the A-coded line reflects receipt of additional phantom-share awards. These entries are routine compensation/settlement events and should not be read as an explicit investment endorsement or rejection by the insider.
Insider Transaction Report
- Exercise/Conversion
Common Stock
[F1][F2][F3][F4]2026-01-30+25,676.274→ 25,676.274 total - Disposition to Issuer
Common Stock
[F1][F2][F3][F4]2026-01-30$15.21/sh−25,676.274$390,536→ 0 total - Award
Phantom Shares
[F1][F5]2026-01-30$15.21/sh+17,560.493$267,095→ 17,560.493 total→ Common Stock (17,560.493 underlying) - Exercise/Conversion
Phantom Shares
[F1][F2]2026-01-30−8,915.347→ 17,830.693 total→ Common Stock (8,915.347 underlying) - Exercise/Conversion
Phantom Shares
[F1][F3]2026-01-30−8,861.551→ 8,861.551 total→ Common Stock (8,861.551 underlying) - Exercise/Conversion
Phantom Shares
[F1][F4]2026-01-30−7,899.377→ 0 total→ Common Stock (7,899.377 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.