Sinclair Lindsay Victoria 4

4 · BlackRock Utilities, Infrastructure & Power Opportunities Trust · Filed Feb 3, 2026

AI-generated summary of this filing

Updated Feb 3, 2026

BlackRock BUI Portfolio Manager Sinclair Lindsay Victoria Receives Award

What Happened

Sinclair Lindsay Victoria, a portfolio manager for BlackRock Utilities, Infrastructure & Power Opportunities Trust (BUI), was credited with a grant of 490.552 cash‑settled "phantom" shares (derivative award) on 2026-01-30 valued at $13,500 (price used: $27.52).
On the same date there are conversion/exercise entries for phantom/derivative units and a disposition to the issuer: 200.96 shares were surrendered to the issuer at $27.52 for $5,530. Additional exercise/conversion entries of 74.052 and 126.908 phantom-share units are reported (these entries are part of the same vesting/settlement activity). This is an award/settlement event rather than an open‑market purchase.

Key Details

Transaction date: January 30, 2026. Filing date: February 3, 2026 (filed four days after the transaction).
Reported entries: A (award) — 490.552 phantom shares @ $27.52 = $13,500 (cash‑settled); M (exercise/conversion of derivative) and D (disposition to issuer) entries show 200.96 units surrendered @ $27.52 = $5,530; additional M entries: 74.052 and 126.908 units (reported as converted/disposed).
Footnotes: F1–F4 state these are phantom shares (economic equivalent of one common share) payable in cash on vesting and vest in equal installments over the first three anniversaries of the grant (grants referenced from Jan 31, 2024 and Jan 31, 2025).
Shares owned after the transactions are not specified in the supplied data.
Filing timeliness: the Form 4 was filed Feb 3 for a Jan 30 transaction (appears to be a late filing relative to the usual 2‑business‑day Form 4 rule).

Context

Phantom shares are cash‑settled awards (not actual share purchases). When they vest they typically convert to a cash payment; sometimes equivalent share units are shown and then surrendered to the issuer to cover taxes or settled in cash — that appears to be the case here with the 200.96 units surrendered.
These entries reflect routine compensation settlement rather than an insider buying or expressing direct bullish sentiment by purchasing stock.

Form 4

Period: 2026-01-30

Other

Transactions

Exercise/Conversion
Common Stock
[F1][F2][F3]
2026-01-30+200.96→ 200.96 total
Disposition to Issuer
Common Stock
[F1][F2][F3]
2026-01-30$27.52/sh−200.96$5,530→ 0 total
Award
Phantom Shares
[F1][F4]
2026-01-30$27.52/sh+490.552$13,500→ 490.552 total
→ Common Stock (490.552 underlying)
Exercise/Conversion
Phantom Shares
[F1][F2]
2026-01-30−74.052→ 148.104 total
→ Common Stock (74.052 underlying)
Exercise/Conversion
Phantom Shares
[F1][F3]
2026-01-30−126.908→ 126.908 total
→ Common Stock (126.908 underlying)

Footnotes (4)

[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]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

1 file