Hume Mark 4
4 · BlackRock Energy & Resources Trust · Filed Feb 3, 2026
Research Summary
AI-generated summary of this filing
BlackRock Energy & Resources (BGR) Portfolio Manager Mark Hume Sells Shares
What Happened
Mark Hume, a portfolio manager at BlackRock Energy & Resources Trust (BGR), completed a set of derivative and grant transactions on January 30, 2026. He recorded a disposition to the issuer of 1,165.247 shares at $15.52 per share for total proceeds of $18,085. On the same date he was granted 632.416 phantom shares with an economic value of $15.52 each (totaling $9,815). The filing also shows several exercise/conversion (derivative) entries (336.207; 430.727; 398.313 shares) related to those derivative instruments. Phantom shares are cash-settled awards that pay out in cash upon vesting.
Key Details
- Transaction date: January 30, 2026; Form 4 filed February 3, 2026 (Accession 0001193125-26-035763).
- Sale/disposition: 1,165.247 shares disposed to issuer at $15.52, proceeds $18,085 (Code D).
- Award: 632.416 phantom shares granted at $15.52, economic value $9,815 (Code A; derivative).
- Derivative exercises/conversions (Code M): 1,330. (336.207 + 430.727 + 398.313) shares converted/exercised — prices shown as N/A in the filing because these were conversions/exercises of derivative interests.
- Shares owned after transaction: not provided in the supplied data.
- Footnotes: Phantom shares are cash-settled and vest in equal installments over the first three anniversaries of each grant (see footnotes F1–F5; prior grants dated Jan 31 of 2023, 2024, 2025).
- Filing timeliness: Form 4 filed Feb 3, 2026; no late-filing flag supplied in the provided data.
Context
- Phantom shares are a form of compensation that are paid in cash upon vesting and do not immediately increase share count outstanding; vesting is spread over three years per the footnotes.
- The combination of derivative exercise/conversion entries and a disposition to the issuer often reflects exercises and surrender/sale of underlying shares to cover exercise costs or tax withholding, but the filing itself records only the mechanics, not the insider’s motives.
- Sales by insiders can be routine (compensation-related or tax-related); purchases are generally a stronger signal of personal bullishness. This filing shows a cash-settled award and derivative activity rather than a direct open-market purchase.
Insider Transaction Report
Form 4
Hume Mark
Other
Transactions
- Exercise/Conversion
Common Stock
[F1][F2][F3][F4]2026-01-30+1,165.247→ 1,165.247 total - Disposition to Issuer
Common Stock
[F1][F2][F3][F4]2026-01-30$15.52/sh−1,165.247$18,085→ 0 total - Award
Phantom Shares
[F1][F5]2026-01-30$15.52/sh+632.416$9,815→ 632.416 total→ Common Stock (632.416 underlying) - Exercise/Conversion
Phantom Shares
[F1][F2]2026-01-30−336.207→ 672.415 total→ Common Stock (336.207 underlying) - Exercise/Conversion
Phantom Shares
[F1][F3]2026-01-30−430.727→ 430.727 total→ Common Stock (430.727 underlying) - Exercise/Conversion
Phantom Shares
[F1][F4]2026-01-30−398.313→ 0 total→ Common Stock (398.313 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