Dickstein Akiva 4
4 · BlackRock Multi-Sector Income Trust · Filed Feb 3, 2026
Research Summary
AI-generated summary of this filing
BlackRock Multi-Sector Income Trust (BIT) Portfolio Manager Akiva Dickstein Sells Shares
What Happened
Akiva Dickstein, a portfolio manager for BlackRock Multi‑Sector Income Trust (BIT), had multiple derivative (phantom share) awards convert/vest on January 30, 2026 and effectuated dispositions to the issuer. In total 7,507.006 phantom-share units were converted/settled (3,753.503 + 1,503.546 + 1,089.041 + 1,160.916). One reported disposition of 3,753.503 shares was settled at $13.24 per share for proceeds of $49,696. The transactions reflect cash-settlement/issuer disposition of vested phantom-share awards rather than an open-market purchase.
Key Details
- Transaction date: 2026-01-30 (all entries). Filing date: 2026-02-03 (timely filed within the Form 4 deadline).
- Reported actions: multiple M-coded entries (exercise/conversion of derivative) and D-coded entry (disposition to issuer).
- Reported price/proceeds: 3,753.503 shares disposed at $13.24 = $49,696; other conversions listed with N/A price (cash-settled / not reported as open-market sales).
- Shares owned after transaction: not specified in the provided excerpt of the filing.
- Footnotes: these were "phantom shares" (cash-settled awards) granted in prior years (grants on Jan 31 of 2023, 2024, and 2025) that vest in equal installments over three years (see F1–F4).
Context
Phantom shares are cash‑settled awards that pay the economic equivalent of common stock on vesting; conversions and dispositions to the issuer commonly represent cash settlement or shares withheld for taxes rather than a market sale. Such transactions are typically routine compensation vesting events and do not necessarily signal a change in insider sentiment.
Insider Transaction Report
- Exercise/Conversion
Common Stock
[F1][F2][F3][F4]2026-01-30+3,753.503→ 4,253.503 total - Disposition to Issuer
Common Stock
[F1][F2][F3][F4]2026-01-30$13.24/sh−3,753.503$49,696→ 500 total - Exercise/Conversion
Phantom Shares
[F1][F2]2026-01-30−1,503.546→ 3,007.092 total→ Common Stock (1,503.546 underlying) - Exercise/Conversion
Phantom Shares
[F1][F3]2026-01-30−1,089.041→ 1,089.041 total→ Common Stock (1,089.041 underlying) - Exercise/Conversion
Phantom Shares
[F1][F4]2026-01-30−1,160.916→ 0 total→ Common Stock (1,160.916 underlying)
Footnotes (4)
- [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.