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BLACKROCK CREDIT ALLOCATION INCOME TRUST·4

Jul 6, 5:58 PM ET

KESTER W CARL 4

Research Summary

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BlackRock Credit Allocation (BTZ) Director Kester W. Carl Receives Award

What Happened

  • Kester W. Carl, a director of BlackRock Credit Allocation Income Trust (BTZ), received an award of 102.14 performance rights on July 1, 2026. The filing reports a per-right value of $10.22, totaling about $1,044. This was an award/acquisition of derivative rights (code A), not an open-market purchase of common shares.

Key Details

  • Transaction date and filing: Award dated 2026-07-01; Form 4 filed 2026-07-06.
  • Instrument and amount: 102.14 Performance Rights @ $10.22 each; aggregate value ≈ $1,044.
  • Transaction type: Award/Grant of derivative securities (Performance Rights).
  • Shares owned after transaction: Not disclosed in the provided filing.
  • Footnotes from the filing:
    • F1: Rights were accrued under the BlackRock Deferred Compensation Plan.
    • F2: Each Performance Right converts into the cash value of one BTZ share.
    • F3: The Performance Rights will be settled 100% in cash at the deferral period the reporting person chooses.
  • Timeliness: The Form 4 was filed five days after the transaction date; Form 4s are generally due within two business days, so this filing appears later than typical.

Context

  • These are derivative, cash‑settled performance rights — not immediate common‑share ownership. They represent a deferred compensation award whose eventual payout will be the cash value of BTZ shares at settlement, so this is different from an outright purchase (which some investors view as a stronger bullish signal).