Dickstein Akiva 4

What Happened
Dickstein Akiva, a portfolio manager at BlackRock Core Bond Trust (BHK), had several derivative (phantom share) conversions on Jan 30, 2026 and a related disposition to the issuer. The filing shows conversions/exercises of phantom-share awards totaling 10,012.576 shares (broken into 5,006.288; 2,066.776; 1,483.335; and 1,456.177). Of these, 5,006.288 shares were disposed to the issuer at $9.53 per share, totaling $47,710. On the same date the reporting person was recorded as acquiring (grant/award) 5,548.269 phantom shares valued at $9.53 each (total $52,875). These phantom shares are derivative, payable in cash on vesting.

Key Details

• Transaction date: 2026-01-30; Form filed 2026-02-03 (appears timely under the two-business-day Form 4 rule).
• Sale/disposition: 5,006.288 shares at $9.53 = $47,710 (listed as disposition to issuer, code D).
• Grants/awards: 5,548.269 phantom shares @ $9.53 = $52,875 (listed as acquisition, code A, derivative).
• Other conversions: three additional exercise/conversion entries of 2,066.776; 1,483.335; and 1,456.177 shares (code M).
• Shares owned after the transactions: Not disclosed in the provided summary of the filing.
• Footnotes: Phantom shares are cash-settled equivalents of common shares and vest per prior grants (Jan 31 of 2023, 2024 and 2025) in equal installments over the first three anniversaries.

Context
Phantom shares are a derivative cash award (not actual stock) that pay out cash when they vest; the filing indicates vesting/conversion activity and an issuer disposition consistent with shares being withheld/sold to cover taxes or settled with the issuer rather than an open-market sale. These actions are routine compensation vesting and cash settlement events and do not by themselves indicate the manager is buying or selling underlying common stock in the open market.