Form 4: Harris Stayce D. reports multiple insider transactions in BFZ

Rhea-AI Filing Summary

Harris Stayce D. reported multiple insider transaction types in a Form 4 filing for BFZ. The filing lists transactions totaling 11 shares.

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^*

Harris Stayce D.

(Last) (First) (Middle)

50 HUDSON YARDS

(Street)

NEW YORK NY 10001

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
BLACKROCK CALIFORNIA MUNICIPAL INCOME TRUST [ BFZ ]

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

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

3. Date of Earliest Transaction (Month/Day/Year)
02/09/2026

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	02/09/2026		J(1)		10.7715	D	(1)	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

Explanation of Responses:

1. Effective as of February 9, 2026 BlackRock California Municipal Income Trust (the "Target Fund") was reorganized into BlackRock MuniHoldings California Quality Fund, Inc. (the "Acquiring Fund"). In the reorganization, common shareholders of the Target Fund received common shares of the Acquiring Fund having a value equal to the aggregate NAV of the Target Fund common shares surrendered as determined at the close of business on February 6, 2026 less the costs of the reorganization. As of February 6, 2026, the Target Fund reported a NAV per share of $12.0395 and the Acquiring Fund reported a NAV per share of $11.7424. The conversion ratio for the Target Fund's common shares was 1.02530147. In the reorganization, Stayce D. Harris received 11 common shares (and cash for fractional shares, if any) of the Acquiring Fund in exchange for her 10.7715 common shares of the Target Fund.

	/s/ Gladys Chang as Attorney-in-Fact	02/11/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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FAQ

What insider transaction did BlackRock California Municipal Income Trust (BFZ) report?

The filing reports an "other" transaction where director Stayce D. Harris exchanged 10.7715 common shares of BlackRock California Municipal Income Trust for 11 common shares of BlackRock MuniHoldings California Quality Fund, Inc. as part of a fund reorganization effective February 9, 2026.

How were BFZ shares converted in the BlackRock fund reorganization?

Common shareholders of BlackRock California Municipal Income Trust received BlackRock MuniHoldings California Quality Fund, Inc. common shares equal in value to their surrendered shares’ aggregate net asset value, calculated at February 6, 2026, less reorganization costs, using a conversion ratio of 1.02530147 for the Target Fund’s common shares.

What did director Stayce D. Harris receive in the BFZ reorganization?

Stayce D. Harris received 11 common shares of BlackRock MuniHoldings California Quality Fund, Inc. in exchange for 10.7715 common shares of BlackRock California Municipal Income Trust. She also received cash for any fractional shares, and her beneficial ownership of the Target Fund’s common shares became zero after the exchange.

What net asset values were used to calculate the BFZ share exchange?

As of February 6, 2026, BlackRock California Municipal Income Trust reported a net asset value per share of $12.0395, while BlackRock MuniHoldings California Quality Fund, Inc. reported $11.7424 per share. These NAVs were used to determine the reorganization exchange terms and resulting share amounts.

When did the BlackRock California Municipal Income Trust reorganization take effect?

The reorganization became effective February 9, 2026, when BlackRock California Municipal Income Trust was reorganized into BlackRock MuniHoldings California Quality Fund, Inc. Shareholders of the Target Fund then held common shares of the Acquiring Fund based on the specified conversion ratio and NAV-based exchange formula.

How many BFZ shares did the director own after the reported transaction?

After the reported transaction, director Stayce D. Harris beneficially owned 0 common shares of BlackRock California Municipal Income Trust. Her 10.7715 Target Fund shares were fully exchanged for 11 common shares of BlackRock MuniHoldings California Quality Fund, Inc. in the reorganization described in the Form 4 footnote.

What transaction code was used in the BFZ Form 4 filing?

The transaction used code "J," which denotes an "other acquisition or disposition." In this case, it reflects the non-market exchange of 10.7715 BlackRock California Municipal Income Trust common shares for 11 BlackRock MuniHoldings California Quality Fund, Inc. shares through a fund reorganization, rather than a standard buy or sell.