Flores Lorenzo 4

What Happened
Director Flores Lorenzo was granted 960.96 performance rights (derivative awards) in BlackRock Credit Allocation Income Trust (BTZ) on July 1, 2026. The award is reported at an implied value of $10.22 per unit, totaling about $9,821. This was an award/grant (transaction code A), not an open-market purchase or sale.

Key Details

• Transaction date: July 1, 2026; Filing date: July 6, 2026 (appears to be filed after the typical 2-business-day Form 4 deadline).
• Award amount: 960.96 performance rights at $10.22 per right; reported value ≈ $9,821.
• Nature of instrument: Performance rights (derivative) — accrued under the BlackRock Deferred Compensation Plan (F1).
• Conversion/settlement: Each performance right is convertible into the cash value of one BTZ share and will be settled 100% in cash at the deferral period chosen by the reporting person (F2, F3).
• Shares owned after transaction: Not specified in this filing.

Context
These are deferred, cash-settled performance rights rather than immediate share purchases. They represent a right to receive the cash equivalent of shares in the future (subject to plan terms and any performance/deferral conditions), so this award does not reflect an immediate increase in market-exposed share ownership.