BCX (BCX) portfolio manager logs phantom share grant and 7,066-share sale

Rhea-AI Filing Summary

BlackRock Resources & Commodities Strategy Trust portfolio manager Alastair Bishop reported compensation-related equity activity. On January 30, 2026, he received 3,793.4242 phantom shares, each economically equivalent to one common share and payable in cash upon vesting at $12.47 per phantom share.

On the same date, previously granted phantom shares were converted into 7,066.9487 common shares and then those common shares were sold at $12.47 per share, leaving him with no directly held common stock in the trust after these transactions.

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

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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^*

Bishop Alastair

(Last) (First) (Middle)

50 HUDSON YARDS

(Street)

NEW YORK NY 10001

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
BlackRock Resources & Commodities Strategy Trust [ BCX ]

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		7,066.9487	A	(1)(2)(3)(4)	7,066.9487	D
Common Stock	01/30/2026		D		7,066.9487	D	$12.47(1)(2)(3)(4)	0	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)(5)	01/30/2026		A		3,793.4242		(1)(5)	(1)(5)	Common Stock	3,793.4242	$12.47	3,793.4242	D
Phantom Shares	(1)(2)	01/30/2026		M			2,123.5529	(1)(2)	(1)(2)	Common Stock	2,123.5529	(1)(2)	4,247.1059	D
Phantom Shares	(1)(3)	01/30/2026		M			2,519.3511	(1)(3)	(1)(3)	Common Stock	2,519.3511	(1)(3)	2,519.3511	D
Phantom Shares	(1)(4)	01/30/2026		M			2,424.0447	(1)(4)	(1)(4)	Common Stock	2,424.0447	(1)(4)	0.0000	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.

4. As previously reported on a Form 4 dated February 2, 2023, the Reporting Person was granted phantom shares on January 31, 2023 payable in cash on vesting, which occurs in equal installments on each of the first three anniversaries of the grant date.

5. These phantom shares vest in equal installments on each of the first three anniversaries of the award.

	/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).
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FAQ

What insider activity did Alastair Bishop report for BCX on January 30, 2026?

Alastair Bishop reported receiving 3,793.4242 phantom shares and settling earlier phantom awards into 7,066.9487 common shares, which were then sold at $12.47 each, leaving him with no directly held BCX common stock afterward.

What are phantom shares in the BCX Form 4 for Alastair Bishop?

The phantom shares are the economic equivalent of BCX common stock and become payable in cash after vesting. They follow a schedule where grants typically vest in equal installments over three years, aligning compensation with long-term performance of the trust.

How many BCX common shares did Alastair Bishop sell in this Form 4 filing?

Alastair Bishop sold 7,066.9487 BCX common shares at $12.47 per share. These shares resulted from the settlement of previously granted phantom shares and, after the sale, he reported owning zero BCX common shares directly.

Did Alastair Bishop acquire new BCX-related compensation in this Form 4?

Yes. He acquired 3,793.4242 new phantom shares tied to BCX at an economic reference price of $12.47. These phantom shares are cash-settled instruments designed to mirror BCX common stock value once the vesting conditions are satisfied.

What is Alastair Bishop’s role in relation to BlackRock Resources & Commodities Strategy Trust (BCX)?

In this filing, Alastair Bishop is identified as a portfolio manager for BlackRock Resources & Commodities Strategy Trust. He is not listed as a director or ten percent owner, and his reported transactions reflect compensation-linked equity interests.