Soccio Phillip 4
4 · BlackRock Municipal 2030 Target Term Trust · Filed Feb 3, 2026
Research Summary
AI-generated summary of this filing
BTT Portfolio Manager Phillip Soccio Exercises and Sells Shares
What Happened
Phillip Soccio, a portfolio manager at BlackRock Municipal 2030 Target Term Trust (BTT), converted/ exercised phantom-share derivatives and disposed of 170.641 shares to the issuer on January 30, 2026, realizing $3,889. On the same date he was also credited with a new phantom-share award of 87.758 shares valued at $2,000. Several other derivative conversion entries (29.250, 99.852 and 41.539 shares) correspond to the same overall activity and aggregate to the 170.641 shares disposed.
Key Details
- Transaction date: 2026-01-30.
- Disposition: 170.641 shares to issuer at $22.79 per share, total proceeds reported $3,889.
- Acquisition: Grant/award of 87.758 phantom shares valued at $22.79 each (total $2,000, cash-settled derivative).
- Other derivative conversions (M): 29.250, 99.852 and 41.539 shares (these sum to the 170.641 disposed).
- Shares owned after the transactions: not stated in this Form 4.
- Footnotes: The reported units are "phantom shares" (cash-settled equivalents of common shares) that vest and pay out in cash per previously disclosed grants. Grants referenced from Jan 31, 2023/2024/2025 vest in equal installments on each of the first three anniversaries.
- Filing timeliness: report filed Feb 3, 2026 for transactions dated Jan 30, 2026 (Form 4 filing date shown; no late-filing flag indicated in the report).
Context
- These were derivative/phantom-share transactions (cash-settled), not open-market purchases or sales of actual common stock. Phantom shares are paid in cash upon vesting rather than delivering physical shares.
- A "Disposition to the issuer" commonly reflects surrender/net-settlement or withholding related to a cash payout from vested phantom shares; the Form 4 shows the conversion and the cash disposition on the same date.
- The cash realized ($3,889) is modest; the filing documents routine compensation-related settlements rather than a large open-market trade.
Insider Transaction Report
Form 4
Soccio Phillip
Other
Transactions
- Exercise/Conversion
Common Stock
[F1][F2][F3][F4]2026-01-30+170.641→ 1,949.123 total - Disposition to Issuer
Common Stock
[F1][F2][F3][F4]2026-01-30$22.79/sh−170.641$3,889→ 1,778.482 total - Award
Phantom Shares
[F1][F5]2026-01-30$22.79/sh+87.758$2,000→ 87.758 total→ Common Stock (87.758 underlying) - Exercise/Conversion
Phantom Shares
[F1][F2]2026-01-30−29.25→ 58.5 total→ Common Stock (29.25 underlying) - Exercise/Conversion
Phantom Shares
[F1][F3]2026-01-30−99.852→ 99.852 total→ Common Stock (99.852 underlying) - Exercise/Conversion
Phantom Shares
[F1][F4]2026-01-30−41.539→ 0 total→ Common Stock (41.539 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