McClements Kyle 4

4 · BlackRock Enhanced International Dividend Trust · Filed Feb 3, 2026

AI-generated summary of this filing

Updated Feb 4, 2026

BGY Portfolio Manager Kyle McClements Cash‑Settles 1,250 Phantom Shares

What Happened

Kyle McClements, a portfolio manager at BlackRock Enhanced International Dividend Trust (BGY), had 1,250.823 phantom shares converted and cash‑settled to the issuer on 2026-01-30 for $5.98 each, yielding $7,480. On the same date he was reported as acquiring 2,890.134 phantom shares (valued at $5.98 each, $17,283). The filing shows exercise/conversion (derivative) and a disposition to the issuer — this appears to be a cash settlement of phantom/share‑equivalent awards rather than an open‑market stock sale or purchase.

Key Details

Transaction date: 2026-01-30; filing date (Accession 0001193125-26-036300): 2026-02-03 (filed within required 2 business days).
Disposition to issuer: 1,250.823 phantom shares at $5.98 each = $7,480 (code D).
Award/grant reported: 2,890.134 phantom shares at $5.98 each = $17,283 (code A); exercise/conversion entries (code M) also reported (N/A price) related to the derivative settlement.
Shares owned after transaction: not specified in the provided excerpt of the filing.
Footnotes: Phantom shares are cash‑settled equivalents of common stock (F1). The reporting person had a prior phantom share award dated Jan 31, 2023 that vests in equal installments over the first three anniversaries (F2, F3).

Context

These were derivative/phantom‑share transactions: the phantom shares are paid in cash on vesting (not actual stock). The combination of conversion/exercise and disposition to the issuer indicates a cash settlement (similar to a cashless exercise), not an open‑market sale of common stock. Such transactions are commonly part of compensation/vesting schedules and do not necessarily signal a change in the manager’s market view.

Form 4

Period: 2026-01-30

Other

Transactions

Exercise/Conversion
Common Stock
[F1][F2]
2026-01-30+1,250.823→ 4,986.456 total
Disposition to Issuer
Common Stock
[F1][F2]
2026-01-30$5.98/sh−1,250.823$7,480→ 3,735.633 total
Award
Phantom Shares
[F1][F3]
2026-01-30$5.98/sh+2,890.134$17,283→ 2,890.134 total
→ Common Stock (2,890.134 underlying)
Exercise/Conversion
Phantom Shares
[F1][F2]
2026-01-30−1,250.823→ 0 total
→ Common Stock (1,250.823 underlying)

Footnotes (3)

[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 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.
[F3]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