Wilson Carly 4

What Happened

• Carly Wilson, a portfolio manager at BlackRock Debt Strategies Fund, converted/settled multiple phantom-share awards on January 30, 2026 and surrendered several resulting share equivalents back to the issuer. One disposition to the issuer was 2,869.814 shares at $10.21 per share for $29,301. At the same time Wilson was granted 4,991.43 phantom shares (valued at $10.21 each, total ~$50,963). Additional derivative conversions/dispositions of 1,612.064 and 1,257.75 phantom-share equivalents are recorded (no per-share price shown for those line items).

Key Details

• Transaction date: January 30, 2026; Form 4 filed February 3, 2026 (timely).
• Reported price/value: one disposal 2,869.814 shares @ $10.21 = $29,301; grant of 4,991.43 phantom shares valued at $10.21 each = $50,963.
• Transaction types reported: M (exercise/conversion of derivative), D (disposition to issuer), A (grant/award — derivative/phantom shares).
• Shares owned after transaction: not disclosed in the supplied summary of the filing.
• Notable footnotes: phantom shares are cash-settled equivalents that vest/payable in cash and vest in equal installments over the first three anniversaries of the award (see F1–F4).

Context

• These are phantom-share (cash-settled) awards, not open-market purchases or traditional equity grants. Phantom shares track stock value and are paid in cash on vesting.
• A "disposition to the issuer" commonly means the award/stock-equivalent was surrendered back to the company (often to satisfy tax-withholding obligations) rather than sold on the open market; the Form 4 shows at least one such surrender with a reported cash amount.
• For retail investors: these transactions reflect compensation settlement and new phantom-share awards rather than a straightforward buy or sell reflecting the manager’s market view.