BTZ director granted cash-settled performance rights

BLACKROCK CREDIT ALLOCATION INCOME TRUST director Kester W. Carl received a grant of cash-settled Performance Rights as part of deferred compensation.

Rhea-AI Filing Summary

BLACKROCK CREDIT ALLOCATION INCOME TRUST director Kester W. Carl received a grant of cash-settled Performance Rights as part of deferred compensation. The award covers 102.14 Performance Rights, each linked to the cash value of one share of the trust’s common stock. Following this grant, Carl holds 34,039.99 Performance Rights in total. These rights have a conversion price of $0.00 and will be settled 100% in cash at the deferral period he selected, so they do not represent a direct purchase or sale of BTZ shares.

Insider Trade Summary

Grant/Award: 102.14 shares

Grant/Award 1 txn

Insider KESTER W CARL

Role Director

Type	Security	Shares	Price	Value
Grant/Award	Performance Rights	102.14	$10.22	$1K

Holdings After Transaction: Performance Rights — 34,039.99 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: 102.14 rights Reference price per right: $10.22 per right Total Performance Rights after grant: 34,039.99 rights +2 more

5 metrics

Performance Rights granted 102.14 rights Grant on July 1, 2026

Reference price per right $10.22 per right Transaction price per share field

Total Performance Rights after grant 34,039.99 rights Holdings following transaction

Conversion price $0.00 Conversion or exercise price for Performance Rights

Underlying security 102.14 common shares equivalent Each right linked to one BTZ common share’s cash value

Key Terms

Performance Rights, BlackRock Deferred Compensation Plan, convertible into the cash value, settled 100% in cash

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."

convertible into the cash value financial

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

settled 100% in cash 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 BTZ director Kester W. Carl report on this Form 4?

Kester W. Carl reported receiving 102.14 Performance Rights tied to BLACKROCK CREDIT ALLOCATION INCOME TRUST’s common stock. These rights were granted under a deferred compensation plan and increase his total Performance Rights holdings to 34,039.99, without involving an open-market share purchase or sale.

Are the BTZ Performance Rights granted to Kester W. Carl actual shares?

The Performance Rights are not actual shares; they are cash-settled rights. Each Performance Right is convertible into the cash value of one share of BLACKROCK CREDIT ALLOCATION INCOME TRUST common stock, with settlement occurring entirely in cash during the deferral period chosen by Carl.

How many BTZ Performance Rights does Kester W. Carl hold after this grant?

After the July 1, 2026 grant, Kester W. Carl holds 34,039.99 Performance Rights in total. The new award added 102.14 Performance Rights, all accrued under the BlackRock Deferred Compensation Plan and linked to the trust’s common stock value for cash settlement.

What is the economic value reference for the 102.14 BTZ Performance Rights?

The filing lists a reference price of $10.22 per Performance Right for the 102.14 units granted. Each Performance Right reflects the cash value of one share of BLACKROCK CREDIT ALLOCATION INCOME TRUST common stock, though the rights themselves will be settled entirely in cash, not stock.

Do the BTZ Performance Rights give Kester W. Carl voting rights or ownership?

The Performance Rights provide cash value linked to BTZ shares but are settled 100% in cash. The filing describes them as accrued under a deferred compensation plan and convertible into the cash value of one share, not as direct share ownership with voting rights.

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

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Accepted by SEC EDGAR 07/06/2026 - 05:58 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^*

KESTER W CARL

(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		102.14		(3)	(3)	Common Stock	102.14	$10.22	34,039.99	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)