McClements Kyle 4

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.