Delbos David 4

Accession 0001193125-26-035907

CIK 0001287480other

Filed

Feb 2, 7:00 PM ET

Accepted

Feb 3, 5:27 PM ET

Size

8.6 KB

Accession

0001193125-26-035907

AI-generated summary of this filing

Updated Feb 3, 2026

BGT Portfolio Manager David Delbos Exercises Phantom Shares, Receives $45K

What Happened

David Delbos, a portfolio manager at BlackRock Floating Rate Income Trust (BGT), had 3,960.263 phantom shares (derivative award) vest/converted on 2026-01-30. The derivative was exercised/converted (code M) and the resulting position was disposed to the issuer (code D) for $11.45 per share, producing $45,345 in cash. This was not an open-market sale of previously held common stock but a cash payout tied to a phantom-share award.

Key Details

Transaction date: 2026-01-30; Filing date: 2026-02-03.
Transaction steps reported: exercise/conversion of derivative (M) and disposition to issuer (D) of 3,960.263 units.
Price and proceeds: $11.45 per unit; total reported proceeds $45,345.
Shares owned after transaction: not specified in the filing.
Footnotes: F1 clarifies a “phantom share” is an economic equivalent of one share and is payable in cash on vesting; F2 notes these phantom shares were granted 1/31/2024 and vest in equal installments over the first three anniversaries.
Timeliness: Filing appears timely (reporting period 2026-01-30, filed 2026-02-03).

Context

This transaction reflects a cash payout from a vested phantom-share award rather than a market sale of owned stock. Such conversions/issuer dispositions commonly represent routine compensation vesting and tax withholding arrangements, not necessarily a market sentiment signal.

Form 4

Period: 2026-01-30

Other

Transactions

Exercise/Conversion
Common Stock
[F1][F2]
2026-01-30+3,960.263→ 3,960.263 total
Disposition to Issuer
Common Stock
[F1][F2]
2026-01-30$11.45/sh−3,960.263$45,345→ 0 total
Exercise/Conversion
Phantom Shares
[F1][F2]
2026-01-30−3,960.263→ 3,960.263 total
→ Common Stock (3,960.263 underlying)

Footnotes (2)

[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 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.

Signature

/s/ Gladys Chang as Attorney-in-Fact|2026-02-03

1 file

BLACKROCK FLOATING RATE INCOME TRUST

CIK 0001287480

Entity typeother