Xie H Erin 4
4 · BlackRock Health Sciences Trust · Filed Feb 3, 2026
Research Summary
AI-generated summary of this filing
BME Portfolio Manager Erin Xie Settles Phantom Shares for $479K
What Happened
Erin Xie, a portfolio manager at BlackRock Health Sciences Trust (BME), had multiple derivative/phantom-share transactions reported for 2026-01-30. She exercised/converted and surrendered a total of 11,449.509 phantom shares to the issuer at $41.87 per share, generating $479,391 in cash. The filing also shows an acquisition (a grant/award) of 6,379.152 phantom shares valued at $41.87 each (total $267,095). These were cash-settled phantom-share transactions tied to compensation, not open-market trades.
Key Details
- Transaction date: 2026-01-30; filing date: 2026-02-03 (Form 4) — filed within the normal two-business-day window.
- Cash received: 11,449.509 phantom shares × $41.87 = $479,391 (Disposition to issuer).
- New award recorded: 6,379.152 phantom shares × $41.87 = $267,095 (derivative award/grant).
- The three M (exercise/conversion) line items (3,451.503; 3,013.399; 4,984.607) sum to 11,449.509 — these represent vested portions of previously reported phantom-share awards (see footnotes).
- Shares owned after transaction: not reported in the Form 4 provided.
- Footnotes: phantom shares are cash-settled equivalents of common stock and vest/pay out in equal installments over the first three anniversaries of each grant (prior grants reported Jan 31 of 2023, 2024 and 2025).
- Transaction codes: M = exercise/conversion of derivative, D = disposition to issuer (surrender for cash), A = grant/award (phantom share award).
Context
- These were compensation-related, cash-settlement events (phantom shares), not open-market buys or sells of common stock. The disposition to the issuer indicates the phantom shares were surrendered for cash (a cashless settlement), which is routine when phantom or restricted-share units vest.
- Such transactions typically reflect compensation vesting and are less informative about the insider's market view than outright open-market purchases.
Insider Transaction Report
Form 4
Xie H Erin
Other
Transactions
- Exercise/Conversion
Common Stock
[F1][F2][F3][F4]2026-01-30+11,449.509→ 11,449.509 total - Disposition to Issuer
Common Stock
[F1][F2][F3][F4]2026-01-30$41.87/sh−11,449.509$479,391→ 0 total - Award
Phantom Shares
[F1][F5]2026-01-30$41.87/sh+6,379.152$267,095→ 6,379.152 total→ Common Stock (6,379.152 underlying) - Exercise/Conversion
Phantom Shares
[F1][F2]2026-01-30−3,451.503→ 6,903.005 total→ Common Stock (3,451.503 underlying) - Exercise/Conversion
Phantom Shares
[F1][F3]2026-01-30−3,013.399→ 3,013.399 total→ Common Stock (3,013.399 underlying) - Exercise/Conversion
Phantom Shares
[F1][F4]2026-01-30−4,984.607→ 0 total→ Common Stock (4,984.607 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