BGT manager sells 3,960 shares at $11.45

BlackRock Floating Rate Income Trust portfolio manager David Delbos reported an insider transaction involving 3,960.2634 shares of common stock.

Rhea-AI Filing Summary

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.

Insider Trade Summary

3,960.2634 shares exercised/converted

Exercise 3 txns

Insider Delbos David

Role Insider

Type	Security	Shares	Price	Value
Exercise	Phantom Shares	3,960.2634	$0.00	$0.00
Exercise	Common Stock	3,960.2634	$0.00	$0.00
Disposition	Common Stock	3,960.2634	$11.45	$45K

Holdings After Transaction: Phantom Shares — 3,960.2634 contracts (Direct); Common Stock — 0 shares (Direct)

Footnotes (2)

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 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 BGT portfolio manager David Delbos report?

David Delbos reported exercising phantom shares into common stock and then selling those shares. On January 30, 2026, 3,960.2634 common shares were acquired from phantom shares and the same number were sold at $11.45 per share, leaving him with no directly owned common stock.

How many BlackRock Floating Rate Income Trust (BGT) shares were sold and at what price?

A total of 3,960.2634 common shares of BGT were sold at $11.45 per share. The sale occurred on January 30, 2026, immediately after an equal number of shares were acquired through the conversion of phantom shares reported in the same filing.

What are phantom shares in the context of BGT and how do they work?

Phantom shares are the economic equivalent of one share of BGT common stock, payable in cash. According to the disclosure, they become payable in cash when vesting requirements are met, providing cash-settled exposure to the stock’s value rather than delivering actual shares upon vesting.

When were the BGT phantom shares granted to David Delbos and how do they vest?

The phantom shares were granted on January 31, 2024. They vest in cash-settled installments, with vesting occurring in equal portions on each of the first three anniversaries of the grant date, as previously reported in an earlier Form 4 dated February 2, 2024.

How did this transaction change David Delbos’s direct ownership in BGT common stock?

After the reported transactions, David Delbos directly owned 0.0000 BGT common shares. He acquired 3,960.2634 common shares through the conversion of phantom shares and then sold exactly the same number of shares that day, resulting in no remaining directly held common stock.

What role does David Delbos hold at BlackRock Floating Rate Income Trust (BGT)?

David Delbos is identified as a Portfolio Manager for BlackRock Floating Rate Income Trust. The relationship section of the filing shows that he is not listed as a director or 10% owner, but is reported under the “Other” category with the title Portfolio Manager.

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

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Accepted by SEC EDGAR 02/03/2026 - 05:27 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^*

Delbos David

(Last) (First) (Middle)

50 HUDSON YARDS

(Street)

NEW YORK NY 10001

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
BLACKROCK FLOATING RATE INCOME TRUST [ BGT ]

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		3,960.2634	A	(1)(2)	3,960.2634	D
Common Stock	01/30/2026		D		3,960.2634	D	$11.45(1)(2)	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			3,960.2634	(1)(2)	(1)(2)	Common Stock	3,960.2634	(1)(2)	3,960.2634	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 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.