Bishop Alastair 4

4 · BlackRock Utilities, Infrastructure & Power Opportunities Trust · Filed Feb 3, 2026

AI-generated summary of this filing

Updated Feb 3, 2026

BUI Portfolio Manager Bishop Exercises and Sells Phantom Shares

What Happened

Alastair Bishop, a portfolio manager for BlackRock Utilities, Infrastructure & Power Opportunities Trust (BUI), reported multiple derivative conversions/settlements and an award on Jan 30, 2026. The filing shows a grant/award of 3,437.791 phantom shares (derivative award) valued at $27.52/share (total $94,608) and a disposition to the issuer of 3,020.376 shares at $27.52/share for $83,121. Several other derivative exercise/conversion entries (829.381; 1,030.162; 1,160.834 shares) are listed with N/A price fields, indicating non-standard/cash-settled derivative conversions rather than open-market sales.

Key Details

Transaction date: Jan 30, 2026.
Notable entries:
- Acquired (A): 3,437.791 phantom shares @ $27.52 = $94,608 (derivative award).
- Disposed to issuer (D): 3,020.376 shares @ $27.52 = $83,121.
- Exercise/conversion (M): 3,020.376 (acquired N/A), and additional M dispositions of 829.381; 1,030.162; 1,160.834 shares (prices reported as N/A).
Shares owned after the transactions: not reported in the provided filing details.
Footnotes: The awards are “phantom shares” (cash-settled equivalents of common stock) that vest in equal installments on each of the first three anniversaries of the grant. Footnotes reference prior grants on Jan 31 of 2023, 2024 and 2025 tied to the same vesting schedule.
Filing timeliness: the Form 4 was filed Feb 3, 2026 for transactions dated Jan 30, 2026; no indication in the provided data that the filing was late.

Context

These were derivative/phantom-share transactions (not open-market purchases). Phantom shares are cash-settled on vesting, so the A-line reflects a grant/accrual of a cash-settled award and the M/D lines reflect conversion/settlement activity rather than a standard buy or sell on the market.
Because phantom shares pay in cash when they vest, these entries are primarily compensation/settlement-related and do not directly signal a straightforward purchase-based vote of confidence in the stock price.

Form 4

Period: 2026-01-30

Other

Transactions

Exercise/Conversion
Common Stock
[F1][F2][F3][F4]
2026-01-30+3,020.376→ 3,020.376 total
Disposition to Issuer
Common Stock
[F1][F2][F3][F4]
2026-01-30$27.52/sh−3,020.376$83,121→ 0 total
Award
Phantom Shares
[F1][F5]
2026-01-30$27.52/sh+3,437.791$94,608→ 3,437.791 total
→ Common Stock (3,437.791 underlying)
Exercise/Conversion
Phantom Shares
[F1][F2]
2026-01-30−829.381→ 1,658.761 total
→ Common Stock (829.381 underlying)
Exercise/Conversion
Phantom Shares
[F1][F3]
2026-01-30−1,030.162→ 1,030.162 total
→ Common Stock (1,030.162 underlying)
Exercise/Conversion
Phantom Shares
[F1][F4]
2026-01-30−1,160.834→ 0 total
→ Common Stock (1,160.834 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