What phantom share grants were referenced in the BIT Form 4 for Samir Lakhani?

The filing references phantom shares granted on January 31 of 2023, 2024, and 2025. Each grant is payable in cash on vesting, with vesting occurring in equal installments on each of the first three anniversaries of the applicable grant date.

BIT portfolio manager sells 9,409.7092 shares

BlackRock Multi-Sector Income Trust portfolio manager Samir Lakhani reported phantom share settlements and a stock sale.

Accepted by SEC EDGAR 02/03/2026 - 07:58 PM EST

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Rhea-AI Filing Summary

BlackRock Multi-Sector Income Trust portfolio manager Samir Lakhani reported phantom share settlements and a stock sale. On January 30, 2026, he acquired 9,409.7092 shares of common stock through the exercise of phantom share awards and then disposed of the same 9,409.7092 shares at $13.24 per share.

After these transactions, he directly held 5,500 shares of common stock. He also reported multiple phantom share positions, each economically equivalent to one common share and payable in cash upon vesting in installments over three years from their respective grant dates.

Insider Trade Summary

9,409.7093 shares exercised/converted

Exercise 5 txns

Insider Lakhani Samir

Role Insider

Type	Security	Shares	Price	Value
Exercise	Phantom Shares	5,695.2506	$0.00	$0.00
Exercise	Phantom Shares	1,742.0672	$0.00	$0.00
Exercise	Phantom Shares	1,972.3915	$0.00	$0.00
Exercise	Common Stock	9,409.7092	$0.00	$0.00
Disposition	Common Stock	9,409.7092	$13.24	$125K

Holdings After Transaction: Phantom Shares — 13,132.5683 contracts (Direct); Common Stock — 5,500 shares (Direct)

Footnotes (4)

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.
F2. 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.
F3. 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.
F4. 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.

FAQ

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What insider transaction did Samir Lakhani report for BlackRock Multi-Sector Income Trust (BIT)?

Samir Lakhani reported exercising phantom share awards into 9,409.7092 common shares and selling those 9,409.7092 shares at $13.24 each. Following these transactions, he directly held 5,500 common shares of BlackRock Multi-Sector Income Trust.

How many BlackRock Multi-Sector Income Trust (BIT) shares does Samir Lakhani hold after this Form 4?

After the reported transactions, Samir Lakhani directly holds 5,500 shares of BlackRock Multi-Sector Income Trust common stock. This figure reflects the sale of 9,409.7092 shares at $13.24 each following the exercise of phantom share awards on January 30, 2026.

At what price were BlackRock Multi-Sector Income Trust (BIT) shares sold in Samir Lakhani’s Form 4?

The 9,409.7092 BlackRock Multi-Sector Income Trust common shares reported as disposed of by Samir Lakhani were sold at a price of $13.24 per share. These shares had been acquired the same day through the exercise of phantom share awards.

What are phantom shares in the BlackRock Multi-Sector Income Trust (BIT) Form 4 filing?

In this filing, a phantom share is described as the economic equivalent of one common share that becomes payable in cash, subject to vesting. Samir Lakhani’s phantom share grants vest in equal installments over three years from their respective January 31 grant dates.

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Form 4 Insider Transactions: What Each Field Means →

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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^*

Lakhani Samir

(Last)

(First)

(Middle)

50 HUDSON YARDS

(Street)

NEW YORK

10001

(City)

(State)

(Zip)

2. Issuer Name and Ticker or Trading Symbol
BlackRock Multi-Sector Income Trust [ BIT ]

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		9,409.7092	A	⁽¹⁾⁽²⁾⁽³⁾⁽⁴⁾	14,909.7092	D
Common Stock	01/30/2026		D		9,409.7092	D	$13.24⁽¹⁾⁽²⁾⁽³⁾⁽⁴⁾	5,500	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⁾⁽²⁾	01/30/2026		M			5,695.2506	⁽¹⁾⁽²⁾	⁽¹⁾⁽²⁾	Common Stock	5,695.2506	⁽¹⁾⁽²⁾	11,390.5011	D
Phantom Shares	⁽¹⁾⁽³⁾	01/30/2026		M			1,742.0672	⁽¹⁾⁽³⁾	⁽¹⁾⁽³⁾	Common Stock	1,742.0672	⁽¹⁾⁽³⁾	1,742.0672	D
Phantom Shares	⁽¹⁾⁽⁴⁾	01/30/2026		M			1,972.3915	⁽¹⁾⁽⁴⁾	⁽¹⁾⁽⁴⁾	Common Stock	1,972.3915	⁽¹⁾⁽⁴⁾	0.00	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.

	/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