Thompson Sarah Croughan 4
4 · BlackRock Capital Allocation Term Trust · Filed Feb 3, 2026
Research Summary
AI-generated summary of this filing
BCAT PM Sarah C. Thompson Sells 693.851 Shares
What Happened
Sarah C. Thompson, a portfolio manager for BlackRock Capital Allocation Term Trust (BCAT), had 693.851 phantom shares (a cash‑settled equity equivalent) convert/vest and was paid out by surrendering those units to the issuer. The filing shows a disposition to the issuer of 693.851 shares at $14.70 per share, generating proceeds of $10,200. This was a compensation cash‑settlement event rather than an open‑market sale.
Key Details
- Transaction date: January 30, 2026; filing date: February 3, 2026 (timely filed).
- Disposition: 693.851 shares surrendered to issuer at $14.70 each — total $10,200.
- Derivative/Exercise codes reported: M (exercise/conversion of derivative) and D (disposition to issuer).
- Shares owned after transaction: not disclosed in the filing.
- Footnotes: F1 explains a "phantom share" is an economic equivalent payable in cash on vesting; F2 notes the phantom shares were originally granted Jan 31, 2025 and vest in equal installments over three years.
Context
This was a cash settlement of phantom (derivative) awards tied to prior compensation grants, effectively a payout on vesting rather than a market sale. Such transactions are common for cash‑settled awards and reflect compensation mechanics, not necessarily a directional view of the stock.
Insider Transaction Report
- Exercise/Conversion
Common Stock
[F1][F2]2026-01-30+693.851→ 693.851 total - Disposition to Issuer
Common Stock
[F1][F2]2026-01-30$14.70/sh−693.851$10,200→ 0 total - Exercise/Conversion
Phantom Shares
[F1][F2]2026-01-30−693.851→ 1,387.702 total→ Common Stock (693.851 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 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.