McClements Kyle 4
4 · BlackRock Enhanced Large Cap Core Fund, Inc. · Filed Feb 3, 2026
Research Summary
AI-generated summary of this filing
BlackRock CII PM Kyle McClements Exercises Phantom Shares, $36K
What Happened
Kyle McClements, a portfolio manager at BlackRock Enhanced Large Cap Core Fund, Inc. (ticker: CII), converted/exercised vested phantom-share awards on January 30, 2026. One converted tranche of 1,562.106 phantom shares was disposed to the issuer at $23.24 per share for total cash proceeds of $36,303. Additional conversions/exercises of 611.601, 556.79 and 393.715 phantom shares were reported on the same date; those transactions are marked as derivative exercises/dispositions with no per-share price shown in the filing (cash-settled).
Key Details
- Transaction date: January 30, 2026; Form 4 filed February 3, 2026.
- Reported cash sale: 1,562.106 phantom shares @ $23.24 = $36,303.
- Other converted amounts: 611.601, 556.79 and 393.715 phantom shares (values listed as N/A in the filing).
- Shares owned after transaction: not specified in the excerpted filing.
- Transaction codes: M = exercise/conversion of a derivative; D = disposition to issuer.
- Footnotes: these were phantom-share awards (cash-settled equivalents of common shares) granted in Jan 2023–2025 that vest in equal installments over three years (see footnotes F1–F4).
- Filing timeliness: Form 4 was filed Feb 3, 2026 reporting the Jan 30, 2026 transactions (within the normal two-business-day window).
Context
Phantom shares are cash-settled awards that pay the economic equivalent of stock on vesting; they are not open-market stock purchases or transfers of actual shares. Here, McClements appears to have received cash for vested portions of prior phantom-share grants (one tranche with a reported cash value of $36.3K). These types of cash-settlement transactions are routine compensation events and do not by themselves indicate an opinion on the company’s stock.
Insider Transaction Report
- Exercise/Conversion
Common Stock
[F1][F2][F3][F4]2026-01-30+1,562.106→ 9,090.908 total - Disposition to Issuer
Common Stock
[F1][F2][F3][F4]2026-01-30$23.24/sh−1,562.106$36,303→ 7,528.802 total - Exercise/Conversion
Phantom Shares
[F1][F2]2026-01-30−611.601→ 1,223.201 total→ Common Stock (611.601 underlying) - Exercise/Conversion
Phantom Shares
[F1][F3]2026-01-30−556.79→ 556.79 total→ Common Stock (556.79 underlying) - Exercise/Conversion
Phantom Shares
[F1][F4]2026-01-30−393.715→ 0 total→ Common Stock (393.715 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.