BTZ director granted cash-settled performance rights

BLACKROCK CREDIT ALLOCATION INCOME TRUST director Robert Glenn Hubbard reported a grant of performance-based deferred compensation.

Rhea-AI Filing Summary

BLACKROCK CREDIT ALLOCATION INCOME TRUST director Robert Glenn Hubbard reported a grant of performance-based deferred compensation. He acquired 1,182.720 Performance Rights on July 1, 2026, each tied to the cash value of one share of the trust. These rights were accrued under the BlackRock Deferred Compensation Plan and are to be settled 100% in cash at a deferral period he chose, rather than delivering actual shares. Following this grant, his reported Performance Rights balance rose to 82,597.930 units.

Insider Trade Summary

Grant/Award: 1,182.72 shares

Grant/Award 1 txn

Insider HUBBARD ROBERT GLENN

Role Director

Type	Security	Shares	Price	Value
Grant/Award	Performance Rights	1,182.72	$10.22	$12K

Holdings After Transaction: Performance Rights — 82,597.93 contracts (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.

Key Figures

Performance Rights granted: 1,182.720 rights Reference price per right: $10.2200 per right Total Performance Rights after grant: 82,597.930 rights +2 more

5 metrics

Performance Rights granted 1,182.720 rights Grant on July 1, 2026

Reference price per right $10.2200 per right Grant valuation

Total Performance Rights after grant 82,597.930 rights Holdings following transaction

Conversion relationship 1 right = cash value of 1 share Per footnote on Performance Rights

Settlement form 100% in cash Deferred Compensation Plan terms

Key Terms

Performance Rights, BlackRock Deferred Compensation Plan, cash value, deferral period

4 terms

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."

cash value financial

"One Performance Right is convertible into the cash value of one share of BlackRock Credit Allocation Income Trust."

Cash value is the amount of money you could get right away if an asset or contract were converted to cash or surrendered, after any fees or penalties. Think of it like the cash you could pull out of a savings jar when you need it; for investors it signals how much immediate liquidity or recoverable worth exists in an investment, insurance policy, or balance-sheet item.

deferral period financial

"The Performance Rights are to be settled 100% in cash at the deferral period chosen by the reporting person."

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What did BLACKROCK CREDIT ALLOCATION INCOME TRUST (BTZ) insider Robert Glenn Hubbard report on this Form 4?

He reported receiving 1,182.720 Performance Rights as deferred compensation. These rights are linked to the cash value of BTZ shares and are settled entirely in cash at a future deferral date he selected.

Are the Performance Rights reported by BTZ director Hubbard actual BTZ shares?

No, the Performance Rights are not actual shares. Each right is convertible into the cash value of one BTZ share and will be settled 100% in cash, according to the BlackRock Deferred Compensation Plan footnotes.

How many Performance Rights does BTZ director Hubbard hold after this transaction?

After receiving 1,182.720 new Performance Rights, his total reported holdings rose to 82,597.930 Performance Rights. This figure reflects his cumulative position in these cash-settled compensation units following the July 1, 2026 grant.

What is the effective price per Performance Right in Hubbard’s BTZ Form 4 filing?

The filing shows a reference value of $10.2200 per Performance Right. This value reflects the pricing used for this grant under the compensation arrangement and helps quantify the size of the deferred compensation award.

How and when will BTZ director Hubbard’s Performance Rights be settled?

The Performance Rights will be settled 100% in cash at the deferral period chosen by Hubbard. The footnotes state they were accrued under the BlackRock Deferred Compensation Plan, which governs timing and cash settlement terms.

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

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Accepted by SEC EDGAR 07/06/2026 - 05:54 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^*

HUBBARD ROBERT GLENN

(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)

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
07/01/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form 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)
			Code	V	Amount	(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)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Performance Rights(1)	(2)	07/01/2026		A		1,182.72		(3)	(3)	Common Stock	1,182.72	$10.22	82,597.93	D

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-Fact	07/06/2026
	** 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.
* Form 4: SEC 1474 (03-26)