KESTER W CARL 4

What Happened
Kester W. Carl, a director of BlackRock Credit Allocation Income Trust (BTZ), was granted 115 performance rights on 2026-04-01. The filing reports an acquisition value of $10.16 per right, totaling $1,168. This was an award/grant (derivative instrument), not an open-market purchase of stock.

Key Details

• Transaction date: 2026-04-01; Form 4 filed 2026-04-03 (filed within the typical two-business-day window).
• Transaction type/code: A — Grant/Award of Performance Rights.
• Amount: 115 Performance Rights at $10.16 each; total reported value $1,168.
• Shares owned after transaction: Not specified in the filing.
• Footnotes from the filing:
  • F1: Rights were accrued under the BlackRock Deferred Compensation Plan.
  • F2: Each Performance Right is convertible into the cash value of one BTZ share.
  • F3: The Performance Rights will be settled 100% in cash at the deferral period chosen by the reporting person.
• Implication for ownership: These are cash-settled performance rights (derivatives), so they do not immediately add actual shares to the insider’s stock holdings.

Context
Performance rights granted under deferred compensation plans are typically routine compensation for directors and are often settled in cash; they do not necessarily reflect a buy or sell signal. For retail investors, note this award increases the director’s potential cash payout tied to BTZ share value but does not represent an open-market purchase of equity.