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  4. [Form 4] BLACKROCK CREDIT ALLOCATION INCOME TRUST Insider Trading Activity

Director at BlackRock Credit Allocation (NYSE: BTZ) granted cash-settled rights

Filing Impact
(Neutral)
Filing Sentiment
(Neutral)
Form Type
4

Rhea-AI Filing Summary

Flores Lorenzo reported acquisition or exercise transactions in this Form 4 filing.

BLACKROCK CREDIT ALLOCATION INCOME TRUST director Lorenzo Flores received a grant of 981.82 Performance Rights tied to the trust’s common stock value. These rights were accrued under the BlackRock Deferred Compensation Plan and are convertible into the cash value of 981.82 common shares.

The Performance Rights will be settled 100% in cash at a deferral period chosen by Flores, rather than in actual shares. Following this grant, his holdings in these Performance Rights increased to a total of 18,688.19, reflecting ongoing compensation rather than open-market trading activity.

Positive

  • None.

Negative

  • None.
Insider Flores Lorenzo
Role Director
Type Security Shares Price Value
Grant/Award Performance Rights 981.82 $10.16 $10K
Holdings After Transaction: Performance Rights — 18,688.19 shares (Direct)
Footnotes (3)
  1. F1. The Performance Rights were accrued under the BlackRock Deferred Compensation Plan.
  2. F2. One Performance Right is convertible into the cash value of one share of BlackRock Credit Allocation Income Trust.
  3. F3. The Performance Rights are to be settled 100% in cash at the deferral period chosen by the reporting person.
Performance Rights granted 981.82 rights Grant to director on April 1, 2026
Reference value per right $10.16 Transaction price per Performance Right at grant
Performance Rights after grant 18,688.19 rights Total holdings following the transaction
Conversion ratio 1 right : 1 share cash value Each right tied to cash value of one BTZ share
Exercise price $0.00 Conversion or exercise price for the Performance Rights
Performance Rights financial
"The Performance Rights were accrued under the BlackRock Deferred Compensation Plan."
Performance rights are conditional awards that give employees or executives the promise of receiving company shares or cash only if the business meets specific targets or survives for a set period. They work like a bonus you only get when certain goals are hit, so they matter to investors because they can increase the number of shares outstanding (dilution), signal management’s incentives and confidence in future results, and affect per-share earnings and valuation.
BlackRock Deferred Compensation Plan financial
"The Performance Rights were accrued under the BlackRock Deferred Compensation Plan."
deferral period financial
"The Performance Rights are to be settled 100% in cash at the deferral period chosen by the reporting person."
underlying security financial
"underlying_security_title: Common Stock, underlying_security_shares: 981.8200"

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

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FAQ

What insider transaction did BTZ director Lorenzo Flores report?
Director Lorenzo Flores reported receiving 981.82 Performance Rights as compensation. These rights were granted under the BlackRock Deferred Compensation Plan and are tied to the value of BlackRock Credit Allocation Income Trust common stock, but will be settled entirely in cash at a future deferral period.

How many Performance Rights does Lorenzo Flores hold after this BTZ transaction?
After the April 1, 2026 grant, Lorenzo Flores holds 18,688.19 Performance Rights. This total includes the newly awarded 981.82 rights and represents his accumulated deferred compensation position linked to the trust’s common stock value, all of which will be settled in cash.

What are Performance Rights in the context of BlackRock Credit Allocation Income Trust (BTZ)?
Performance Rights are derivative compensation instruments that track the value of BTZ common shares. One Performance Right is convertible into the cash value of one BTZ share, and in this case is settled 100% in cash under the BlackRock Deferred Compensation Plan at the chosen deferral date.

Does the BTZ Form 4 show any open-market buying or selling by Lorenzo Flores?
The Form 4 shows a grant of 981.82 Performance Rights as compensation, not any open-market buying or selling of BTZ shares. The rights are cash-settled instruments under a deferred compensation plan rather than direct stock purchases or sales in the market.

How is the value of the BTZ Performance Rights determined for Lorenzo Flores?
Each Performance Right is linked to the cash value of one BlackRock Credit Allocation Income Trust share. The filing notes a reference price of $10.16 per right at grant, and the rights will ultimately be settled in cash based on the share value at the deferral settlement time.
SEC Form 4
FORM 4UNITED 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*
Flores Lorenzo
(Last)(First)(Middle)
50 HUDSON YARDS
(Street)
NEW YORK NEW YORK 10001
(City)(State)(Zip)
UNITED STATES
(Country)		2. Issuer Name and Ticker or Trading Symbol
BLACKROCK CREDIT ALLOCATION INCOME TRUST [ BTZ ] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
XDirector10% Owner
Officer (give title below)Other (specify below)
2a. Foreign Trading Symbol
3. Date of Earliest Transaction (Month/Day/Year)
04/01/2026		6. Individual or Joint/Group Filing (Check Applicable Line)
XForm filed by One Reporting Person
Form filed by More than One Reporting Person
4. If Amendment, Date of Original Filed (Month/Day/Year)

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)
CodeVAmount(A) or (D)Price
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)
CodeV(A)(D)Date ExercisableExpiration DateTitleAmount or Number of Shares
Performance Rights(1)(2)04/01/2026A981.82 (3) (3)Common Stock981.82$10.1618,688.19D
Explanation of Responses:
1. The Performance Rights were accrued under the BlackRock Deferred Compensation Plan.
2. One Performance Right is convertible into the cash value of one share of BlackRock Credit Allocation Income Trust.
3. The Performance Rights are to be settled 100% in cash at the deferral period chosen by the reporting person.
/s/ Gladys Chang as Attorney-in-Fact04/03/2026
** Signature of Reporting PersonDate
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.
* Form 4: SEC 1474 (03-26)

Source: View Original Filing on SEC EDGAR