Kramvis Nicholas Andrew 4

What Happened

• Nicholas Andrew Kramvis, a portfolio manager at BlackRock Income Trust (BKT), had 2,044.917 derivative/phantom shares exercised and disposed to the issuer on Jan 30, 2026 for $11.10 each, generating $22,699. On the same date he was recorded as acquiring (award) 1,818.694 phantom shares valued at $11.10 each ($20,188). These transactions reflect a cash-settlement of vested phantom share units and a separate grant of additional phantom units—not an open-market buy.

Key Details

• Transaction date: January 30, 2026. Form filed: February 3, 2026 (timely filing).
• Disposition: 2,044.917 phantom shares sold/settled to the issuer at $11.10/share for $22,699 total.
• Award/Acquisition: 1,818.694 phantom shares valued at $11.10/share for $20,188 (derivative/phantom units).
• Transaction codes: M = exercise/conversion of a derivative; D = disposition to issuer; A = grant/award (derivative).
• Shares owned after transaction: not specified in the provided excerpt.
• Footnotes: these are phantom shares (economic equivalents of common stock that pay out in cash on vesting). The reported units stem from a grant originally made Jan 31, 2025 that vests in equal installments on each of the first three anniversaries.

Context

• Phantom-share exercises that are settled to the issuer are cash settlements (similar to a cashless exercise) and therefore are routine compensation events rather than open-market sales—less indicative of insider sentiment about the stock price.
• The award of additional phantom shares is a compensation/retention action and, by itself, does not signal a purchase of common stock.