Earnings Feed
Start Free
BlackRock Enhanced Equity Dividend Trust·4

Feb 3, 4:37 PM ET

Zhao David 4

Research Summary

AI-generated summary

Updated

BDJ Portfolio Manager David Zhao Sells Shares & Receives Phantom Award

What Happened
David Zhao, a portfolio manager for BlackRock Enhanced Equity Dividend Trust (BDJ), reported multiple derivative and award-related transactions on 2026-01-30. He disposed (to the issuer) of 5,533.576 shares at $9.61 per share for $53,178 and was credited with a grant of 4,877.732 phantom shares valued at $9.61 per share (total $46,875). The filing also shows several exercise/conversion (derivative) entries totaling additional phantom-share conversions (1,438.531; 2,180.380; 1,914.664 shares) reported as “M” (exercise/conversion) with price listed as N/A.

Key Details

  • Transaction date: January 30, 2026. Form 4 filed February 3, 2026. (No late-filing flag provided in the supplied data.)
  • Sale/disposition: 5,533.576 shares @ $9.61 = $53,178 (code D — disposition to issuer).
  • Grant/acquisition: 4,877.732 phantom shares @ $9.61 = $46,875 (code A — award/grant; derivative).
  • Exercises/conversions (code M): 5,533.576 total across multiple entries (1,438.531; 2,180.380; 1,914.664) reported with price N/A (cash-settled/derivative activity).
  • Shares owned after transaction: Not specified in the provided filing summary.
  • Footnotes: Phantom shares are cash‑settled equivalents of common shares and vest/payable in cash per vesting schedules. The filing references prior phantom-share grants (Jan 31 of 2023, 2024, and 2025) that vest in equal installments on each of the first three anniversaries (see F1–F5).

Context

  • Phantom shares are derivative, cash‑settled awards (not actual stock); they pay out cash upon vesting rather than delivering shares. The entry labeled “A” is a grant of such a phantom-share award; “M” entries indicate conversion/exercise of derivative units.
  • A disposition “to the issuer” is commonly used when shares or units are surrendered to the company (often for tax withholding or settlement), though the filing itself does not state the specific reason.
  • These transactions are routine award vesting/settlement activity and derivative conversions rather than open‑market purchases or sales by a 10% owner.