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.