McClements Kyle 4

What Happened

• Kyle McClements, a portfolio manager for BlackRock Enhanced Equity Dividend Trust (BDJ), had multiple phantom-share derivative transactions report on 2026-01-30. The filing shows a disposition (cash settlement) of 3,377.105 phantom shares at $9.61 for $32,454 and a grant/award of 3,596.878 phantom shares valued at $9.61 each ($34,566). Several additional small derivative conversions/dispositions (1,342.871; 1,274.516; 759.718 shares) were also reported that reflect conversion/settlement activity (no per-share price shown for those lines).

Key Details

• Transaction date: 2026-01-30; filing date (Form 4): 2026-02-03 — filed on time (within required two business days).
• Prices and totals shown: disposition to issuer 3,377.105 shares @ $9.61 = $32,454; grant/award 3,596.878 shares @ $9.61 = $34,566. Other M-coded conversions list share counts with N/A price.
• Shares owned after the transactions: not disclosed in the provided filing excerpt.
• Footnotes: these are "phantom shares" (F1) — cash-settled equivalents of common shares. Footnotes F2–F4 indicate these phantom awards were originally granted on January 31 of 2023, 2024 and 2025 and vest in equal installments on each of the first three anniversaries (F5).
• Transaction codes: A = grant/award; D = disposition to issuer (often a cash settlement or surrender to cover withholding); M = exercise or conversion of a derivative. These records reflect vesting/settlement of cash-settled awards rather than open-market trades.

Context

• Phantom shares are cash-settled awards; this filing documents vesting and cash settlement activity rather than a public market sale or open-market purchase. Such transactions are typically routine compensation or tax-withholding related events and do not directly signal open-market buying or selling by the insider.