Wilson Carly 4

What happened
Carly Wilson, a portfolio manager for BlackRock Floating Rate Income Strategies Fund, Inc. (FRA), exercised/conversion of phantom-share derivatives and received cash for those shares, and also received a new grant of phantom shares. Specifically, 865.891 phantom shares were converted and immediately disposed to the issuer at $11.76 per share for proceeds of $10,183. On the same date she was granted 2,889.031 phantom shares (derivative award) valued at $11.76 each, total value $33,975. The disposition is effectively a cash settlement of the converted phantom shares.

Key details

• Transaction date: 2026-01-30; Form 4 filed 2026-02-03 (timely within the two-business-day window).
• Disposal: 865.891 phantom-share units surrendered to issuer at $11.76 each = $10,183.
• Grant: 2,889.031 phantom-share units valued at $11.76 each = $33,975 (derivative award).
• Shares owned after the transactions: not specified in the filing provided.
• Footnotes: Phantom shares are cash-settled equivalents of common stock and vest/payable in cash (see F1–F3). The award vests in equal installments on each of the first three anniversaries of the grant.

Context

• These were derivative (phantom-share) transactions, not open-market purchases or sales of issued common stock. The conversion plus immediate surrender to the issuer functions like a cash settlement (the reporting person received cash for the converted units).
• Phantom-share awards are typically paid in cash on vesting and do not represent immediate ownership of common stock; vesting schedule and cash settlement mean this is compensation-related rather than a directional bet on the stock.