Cucunato Jeffrey 4

What Happened

• Jeffrey Cucunato, a portfolio manager at BlackRock Private Investments Fund (BPIF), had derivative/phantom-share activity tied to vesting on Feb 20, 2026. He exercised/converted derivatives totaling 3,035.54 phantom-share equivalents (reported as two M entries of 1,342.01 and 1,693.53) and those 3,035.54 shares were disposed to the issuer at $14.58 per share for proceeds of $44,258 (D). Separately, a grant/award (A) of 3,296.3 phantom shares was reported at $14.58 per share, valued at $48,060. The filings reflect vesting and cash-settlement mechanics rather than an open-market purchase or sale.

Key Details

• Transaction date: February 20, 2026; Form 4 filed February 24, 2026 (filing marked late).
• Sales/settlement price: $14.58 per share for the 3,035.54-share disposition, total $44,258.
• Award recorded: 3,296.3 phantom shares at $14.58, total $48,060 (derivative/phantom share award).
• Codes: M = exercise/conversion of derivative, D = disposition to issuer, A = grant/award.
• Shares owned after transaction: not specified in the provided filing.
• Notable footnotes: phantom shares are cash-settled equivalents of common stock and vest in equal installments over the first three anniversaries of each grant (prior grants on Feb 20, 2024 and Feb 20, 2025 are referenced).

Context

• These entries represent vesting and cash settlement of phantom-share awards and subsequent disposition to the issuer (common for tax withholding or cash settlement), not an open-market trading signal. For derivatives/phantom shares, “exercise/conversion” and immediate disposal often reflect routine compensation settlement rather than a market-view trade. The late filing (filed 4 days after the transaction date) is noted in the record.