BlackRock Floating Rate Inc Trust SEC Filings

BlackRock Floating Rate Income Trust (BGT) and three affiliated closed-end funds filed certified shareholder reports for the period ended 12/31/2025. The reports disclose distribution mechanics, portfolio composition, leverage levels and year-end performance metrics.

BGT shows a 12.74% current distribution rate on a closing market price of $11.33 and an annualized distribution per share of $1.443360. BGT’s leverage was 17%; its closing market price fell 11.90% while NAV fell 5.81% for the year. The filing also details managed distribution plans, return-of-capital components and fund-level holdings and credit allocations as of 12/31/2025.

BlackRock Floating Rate Income Trust filed Post-Effective Amendment No. 1 to its Registration Statement on Form N-2 under Rule 462(d), which the amendment states "shall become effective immediately upon filing." The amendment consists only of exhibits and does not change other parts of the Registration Statement. The prospectus contemplates commencement of a proposed public offering "from time to time after the effective date of this Registration Statement." The filing includes an estimated expense table showing a $161,690 total for issuance and distribution and reports 9 record holders as of February 9, 2026.

BlackRock Floating Rate Income Trust is offering up to 17,000,000 common shares under a prospectus supplement dated February 27, 2026.

The supplement states the Trust’s last reported NAV was $11.52 and last reported NYSE sale price was $11.20 as of February 20, 2026, a discount of (2.78)%. Assuming sales at the $11.20 price, estimated net proceeds for a full sale would be approximately $188,334,854, after the stated offering load and expenses.

The offering may be conducted in negotiated transactions or at-the-market sales through a sub-placement agent, with a Distributor commission of 1.00% of gross proceeds and up to 0.80% paid to the sub-placement agent. As of February 20, 2026, the Trust had 29,824,720 common shares outstanding.

BlackRock Floating Rate Income Trust proposes to register 17,000,000 common shares for issuance pursuant to a shelf registration. The preliminary prospectus dated February 20, 2026 states the Trust may offer these common shares and subscription rights from time to time after effectiveness, with terms set in Prospectus Supplements.

The Trust reported $343,510,059 in net assets and 29,824,720 common shares outstanding as of February 13, 2026, with a reported market price of $11.33 and NAV of $11.52 per share on that date. The Prospectus notes proceeds received by the Trust will be invested according to its objectives and that offerings may be via direct sales, agents, or underwriters.

BlackRock Floating Rate Income Trust portfolio manager Carly Wilson reported several compensation-related transactions involving common stock and phantom shares. On January 30, 2026, Wilson exercised phantom share awards into 2,045.9717 common shares and then disposed of the same number of common shares at $11.45 per share, leaving no common stock directly held.

On the same date, Wilson was credited with a new grant of 2,967.2489 phantom shares at a reference value of $11.45. Footnotes explain that each phantom share is the economic equivalent of one common share but is payable in cash, not stock, and vests in equal installments over three years based on earlier and current award grant dates.

BlackRock Floating Rate Income Trust portfolio manager David Delbos reported an insider transaction involving 3,960.2634 shares of common stock. On January 30, 2026, 3,960.2634 phantom shares were converted into the same number of common shares at a recorded price of $0.00 per share.

That same day, Delbos disposed of 3,960.2634 common shares at a reported price of $11.45 per share, leaving 0.0000 common shares directly owned after the transaction. The phantom shares are described as the economic equivalent of common stock, payable in cash upon vesting in three equal annual installments starting from a grant on January 31, 2024.

BlackRock Floating Rate Income Trust portfolio manager Garfin Mitchell reported several compensation-related transactions involving phantom shares and common stock. On January 30, 2026, Mitchell received 12,436.2712 phantom shares, which are cash-settled awards economically equivalent to common shares and vest over three years.

On the same date, previously granted phantom shares totaling 3,105.6561 and 2,035.3971 were exercised into common stock. Mitchell acquired 5,141.0532 common shares through these exercises and then sold all 5,141.0532 shares at $11.45 per share, leaving no directly held common stock.

BlackRock Floating Rate Income Trust is registering up to 17,000,000 new common shares, and may also issue rights to purchase additional common shares, under a shelf prospectus that allows multiple offerings over time. The fund is a diversified, closed-end management investment company listed on the NYSE under the symbol BGT, seeking a high level of current income with capital preservation as a secondary goal, primarily through investments in floating rate senior loans and related income securities.

Net proceeds from any offering will be invested in line with these objectives, generally within about three months, and potentially up to six months, while temporarily holding short-term securities. The Trust currently employs leverage via a bank credit facility and may borrow up to 33 1/3% of managed assets or issue preferred shares up to 50% of managed assets. It has a managed distribution plan targeting regular monthly cash distributions, which may include income, capital gains and return of capital, and reports a total annual expense ratio of 2.19% after fee waivers, including a 1.00% sales load and 0.05% offering costs on new share sales.