What new phantom share award did BDJ portfolio manager Kyle McClements receive?

On January 30, 2026, Kyle McClements received a new award of 3,596.8783 phantom shares valued at $9.61 each. These phantom shares vest in three equal annual installments and are payable in cash upon vesting, according to the explanatory footnotes.

How do prior phantom share grants factor into Kyle McClements’ BDJ holdings?

Prior grants from 2023, 2024, and 2025 continue to vest over three years, with portions converted into common stock on January 30, 2026. Remaining phantom share balances after these conversions are shown in Table II as part of his derivative securities ownership.

BDJ (BlackRock Enhanced Equity Dividend Trust) manager logs phantom share grant and stock sale

Filing Impact

(Neutral)

Filing Sentiment

(Neutral)

Form Type

Rhea-AI Filing Summary

BlackRock Enhanced Equity Dividend Trust portfolio manager Kyle McClements reported a mix of phantom share awards, conversions, and a stock sale. On January 30, 2026, he was awarded 3,596.8783 phantom shares, each economically equivalent to one common share and payable in cash after vesting over three years.

That same day, previously granted phantom shares were exercised into 3,377.1047 common shares, which were then sold at $9.61 per share. Following these transactions, McClements directly held 18,711.9135 common shares and maintained a remaining phantom share balance as shown in the filing tables.

Insider Trade Summary

3,377.105 shares exercised/converted

Mixed 6 txns

Insider McClements Kyle

Role Insider

Type	Security	Shares	Price	Value
Grant/Award	Phantom Shares	3,596.878	$9.61	$35K
Exercise	Phantom Shares	1,342.871	$0.00	--
Exercise	Phantom Shares	1,274.516	$0.00	--
Exercise	Phantom Shares	759.718	$0.00	--
Exercise	Common Stock	3,377.105	$0.00	--
Disposition	Common Stock	3,377.105	$9.61	$32K

Holdings After Transaction: Phantom Shares — 3,596.878 shares (Direct); Common Stock — 22,089.018 shares (Direct)

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

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Form 4 Insider Transactions: What Each Field Means →

02/03/2026 - 08:12 PM

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^*

McClements Kyle

(Last)

(First)

(Middle)

50 HUDSON YARDS

(Street)

NEW YORK

10001

(City)

(State)

(Zip)

2. Issuer Name and Ticker or Trading Symbol
BlackRock Enhanced Equity Dividend Trust [ BDJ ]

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)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Common Stock	01/30/2026		M		3,377.1047	A	⁽¹⁾⁽²⁾⁽³⁾⁽⁴⁾	22,089.0182	D
Common Stock	01/30/2026		D		3,377.1047	D	$9.61⁽¹⁾⁽²⁾⁽³⁾⁽⁴⁾	18,711.9135	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)
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)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
Phantom Shares	⁽¹⁾⁽⁵⁾	01/30/2026		A		3,596.8783		⁽¹⁾⁽⁵⁾	⁽¹⁾⁽⁵⁾	Common Stock	3,596.8783	$9.61	3,596.8783	D
Phantom Shares	⁽¹⁾⁽²⁾	01/30/2026		M			1,342.8714	⁽¹⁾⁽²⁾	⁽¹⁾⁽²⁾	Common Stock	1,342.8714	⁽¹⁾⁽²⁾	2,685.7428	D
Phantom Shares	⁽¹⁾⁽³⁾	01/30/2026		M			1,274.5156	⁽¹⁾⁽³⁾	⁽¹⁾⁽³⁾	Common Stock	1,274.5156	⁽¹⁾⁽³⁾	1,274.5156	D
Phantom Shares	⁽¹⁾⁽⁴⁾	01/30/2026		M			759.7177	⁽¹⁾⁽⁴⁾	⁽¹⁾⁽⁴⁾	Common Stock	759.7177	⁽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).
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.

Source: View Original Filing on SEC EDGAR

FAQ

What insider activity did Kyle McClements report for BDJ on January 30, 2026?

Kyle McClements reported receiving phantom shares and related stock transactions on January 30, 2026. He was granted 3,596.8783 phantom shares, converted 3,377.1047 phantom shares into common stock, and then sold those 3,377.1047 common shares at $9.61 per share.

How many BDJ common shares does Kyle McClements hold after this Form 4?

After the reported transactions, Kyle McClements directly held 18,711.9135 BDJ common shares. This figure reflects the exercise of phantom shares into stock and the same-day sale of 3,377.1047 common shares disclosed in the Form 4 filing.

What are phantom shares in the BDJ Form 4 for Kyle McClements?

In this filing, phantom shares are the economic equivalent of one BDJ common share and become payable in cash when vested. These awards vest in equal installments on each of the first three anniversaries of the relevant grant or award date described in the footnotes.

Did Kyle McClements sell BDJ common stock in this Form 4 filing?

Yes. After exercising phantom share units into 3,377.1047 BDJ common shares, Kyle McClements reported disposing of all 3,377.1047 shares. The sale price reported was $9.61 per share, leaving him with 18,711.9135 common shares held directly afterward.