Lakhani Samir 4

4 · BlackRock Multi-Sector Income Trust · Filed Feb 3, 2026

AI-generated summary of this filing

Updated Feb 4, 2026

BlackRock Multi-Sector Income Trust (BIT) PM Samir Lakhani Cashes Phantom Shares

What Happened

Samir Lakhani, a portfolio manager at BlackRock Multi-Sector Income Trust (BIT), settled multiple derivative/phantom-share awards on January 30, 2026. The filing shows a disposition to the issuer of 9,409.709 phantom shares at $13.24 per share for proceeds of $124,585. Several other phantom-share conversions/exercises (5,695.251; 1,742.067; 1,972.392 shares) were reported as exercised/converted but no cash amounts were listed for those line items.
This was a cash settlement of compensation-style phantom shares (not an open-market sale or purchase). Such transactions are typically routine vesting/settlement of awards rather than a direct buy or sell signaling conviction.

Key Details

Transaction date: January 30, 2026; Form 4 filed February 3, 2026 (timely filing).
Reported disposition: 9,409.709 phantom shares to issuer at $13.24 each = $124,585.
Additional exercised/converted phantom-share amounts reported: 5,695.251; 1,742.067; 1,972.392 shares (no cash amounts listed in the filing).
Shares owned after transaction: not reported in the provided data.
Footnotes: Phantom shares are cash-settled awards (F1). The reported conversions relate to prior phantom-share grants from Jan 31 of 2023, 2024 and 2025 that vest in equal installments over three years (F2–F4).
Transaction codes: M = exercise/conversion of derivative; D = disposition to issuer. This reflects cash settlement of awards, not a market sale.

Context

These entries reflect cash-settlement of phantom-share awards on vesting. That differs from exercising stock options to receive shares or selling shares on the open market; proceeds typically arise from company-paid cash for vested phantom units.
Such settlements are common as compensation is paid out over time; they do not by themselves indicate the insider’s view of the company’s stock. Purchases by insiders tend to be more directly informative about sentiment.

Form 4

Period: 2026-01-30

Other

Transactions

Exercise/Conversion
Common Stock
[F1][F2][F3][F4]
2026-01-30+9,409.709→ 14,909.709 total
Disposition to Issuer
Common Stock
[F1][F2][F3][F4]
2026-01-30$13.24/sh−9,409.709$124,585→ 5,500 total
Exercise/Conversion
Phantom Shares
[F1][F2]
2026-01-30−5,695.251→ 11,390.501 total
→ Common Stock (5,695.251 underlying)
Exercise/Conversion
Phantom Shares
[F1][F3]
2026-01-30−1,742.067→ 1,742.067 total
→ Common Stock (1,742.067 underlying)
Exercise/Conversion
Phantom Shares
[F1][F4]
2026-01-30−1,972.392→ 0 total
→ Common Stock (1,972.392 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]As previously reported on a Form 4 dated February 2, 2023, the Reporting Person was granted phantom shares on January 31, 2023 payable in cash on vesting, which occurs in equal installments on each of the first three anniversaries of the grant date.

Signature

/s/ Gladys Chang as Attorney-in-Fact|2026-02-03

1 file