Soccio Phillip 4

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.