BBN insider sells 243.6 shares at $16.30

BlackRock Taxable Municipal Bond Trust portfolio manager Walter O'Connor reported a small share transaction involving common stock and cash-settled phantom shares.

Rhea-AI Filing Summary

BlackRock Taxable Municipal Bond Trust portfolio manager Walter O'Connor reported a small share transaction involving common stock and cash-settled phantom shares. On January 30, 2026, he acquired 243.5732 shares of common stock following the exercise of phantom share-based rights, then disposed of the same 243.5732 shares at a price of $16.3 per share, leaving 0 common shares directly owned. The filing also shows movements in phantom shares, which are stated to be the economic equivalent of common stock but payable in cash upon vesting, with remaining phantom share balances of 265.0239 and 111.0613 recorded as directly owned.

Insider Trade Summary

243.5732 shares exercised/converted

Exercise 4 txns

Insider OCONNOR WALTER

Role Insider

Type	Security	Shares	Price	Value
Exercise	Phantom Shares	132.5119	$0.00	$0.00
Exercise	Phantom Shares	111.0613	$0.00	$0.00
Exercise	Common Stock	243.5732	$0.00	$0.00
Disposition	Common Stock	243.5732	$16.30	$4K

Holdings After Transaction: Phantom Shares — 376.0852 contracts (Direct); Common Stock — 0 shares (Direct)

Footnotes (3)

1. F1. A phantom share is the economic equivalent of one share of common stock and, subject to the applicable vesting requirements, becomes payable in cash.
2. F2. As previously reported on a Form 4 dated February 4, 2025, the Reporting Person was granted phantom shares on January 31, 2025 payable in cash on vesting, which occurs in equal installments on each of the first three anniversaries of the grant date.
3. F3. As previously reported on a Form 4 dated February 2, 2024, the Reporting Person was granted phantom shares on January 31, 2024 payable in cash on vesting, which occurs in equal installments on each of the first three anniversaries of the grant date.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What insider transaction did Walter O'Connor report at BlackRock Taxable Municipal Bond Trust (BBN)?

Walter O'Connor reported acquiring 243.5732 shares of BBN common stock through a phantom share-related transaction, then selling the same 243.5732 shares at $16.3 per share. After these moves, he reported direct ownership of 0 BBN common shares.

How many BlackRock Taxable Municipal Bond Trust (BBN) shares did the insider sell and at what price?

The filing shows a disposal of 243.5732 BBN common shares on January 30, 2026 at $16.3 per share. This followed an acquisition of the same number of shares via a transaction coded “M,” leaving no directly owned common shares afterward.

What are phantom shares in the BlackRock Taxable Municipal Bond Trust (BBN) Form 4 filing?

The filing explains that each phantom share is the economic equivalent of one BBN common share and becomes payable in cash when vesting requirements are met. These awards do not settle in stock; instead, they are paid out in cash upon vesting.

What phantom share balances does Walter O'Connor report for BlackRock Taxable Municipal Bond Trust (BBN)?

After the reported January 30, 2026 transactions, Walter O'Connor reports 265.0239 phantom shares from a 2025 grant and 111.0613 phantom shares from a 2024 grant. Both phantom share awards are stated to vest in equal installments over three years.

What does transaction code "M" mean in the BlackRock Taxable Municipal Bond Trust (BBN) Form 4?

In this filing, transaction code “M” is used for movements involving phantom shares and related common stock. It reflects the exercise or conversion of derivative-type awards, leading to acquisition of common stock or adjustments to phantom share balances as part of compensation.

What role does the reporting person hold at BlackRock Taxable Municipal Bond Trust (BBN)?

The reporting person, Walter O'Connor, is identified as a portfolio manager of BlackRock Taxable Municipal Bond Trust. He is not listed as a director, officer, or 10% owner in the filing, but reports these transactions under insider ownership rules.

AI-generated analysis. How Rhea-AI works. Not financial advice.

Form 4 Insider Transactions: What Each Field Means →

See more from StockTitan in Google Search and AI answers. Adds StockTitan as a preferred source · opens Google

Add on Google Not now

Accepted by SEC EDGAR 02/03/2026 - 05:53 PM Learn about SEC filing dates

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

OCONNOR WALTER

(Last) (First) (Middle)

50 HUDSON YARDS

(Street)

NEW YORK NY 10001

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
BlackRock Taxable Municipal Bond Trust [ BBN ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director		10% Owner
	Officer (give title below)	X	Other (specify below)
			Portfolio Manager

3. Date of Earliest Transaction (Month/Day/Year)
01/30/2026

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock	01/30/2026		M		243.5732	A	(1)(2)(3)	243.5732	D
Common Stock	01/30/2026		D		243.5732	D	$16.3(1)(2)(3)	0.0000	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Phantom Shares	(1)(2)	01/30/2026		M			132.5119	(1)(2)	(1)(2)	Common Stock	132.5119	(1)(2)	265.0239	D
Phantom Shares	(1)(3)	01/30/2026		M			111.0613	(1)(3)	(1)(3)	Common Stock	111.0613	(1)(3)	111.0613	D

Explanation of Responses:

1. A phantom share is the economic equivalent of one share of common stock and, subject to the applicable vesting requirements, becomes payable in cash.

2. As previously reported on a Form 4 dated February 4, 2025, the Reporting Person was granted phantom shares on January 31, 2025 payable in cash on vesting, which occurs in equal installments on each of the first three anniversaries of the grant date.

3. As previously reported on a Form 4 dated February 2, 2024, the Reporting Person was granted phantom shares on January 31, 2024 payable in cash on vesting, which occurs in equal installments on each of the first three anniversaries of the grant date.

	/s/ Gladys Chang as Attorney-in-Fact	02/03/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.