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Director Lorenzo Flores receives 960 cash‑settled BTZ Performance Rights under deferred plan

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 960.9600 Performance Rights linked to the trust’s common stock. Each Performance Right represents the cash value of one BTZ share and was valued at $10.2200 per underlying share on the grant date.

The Performance Rights were accrued under the BlackRock Deferred Compensation Plan and will be settled 100% in cash at a future deferral date chosen by Flores, rather than in actual BTZ shares. After this award, Flores holds a total of 20,110.7900 Performance Rights tied to BTZ common stock.

Positive

  • None.

Negative

  • None.
Insider Flores Lorenzo
Role Director
Type Security Shares Price Value
Grant/Award Performance Rights 960.96 $10.22 $10K
Holdings After Transaction: Performance Rights — 20,110.79 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 960.9600 rights Grant of cash-settled Performance Rights on 2026-07-01
Underlying share value $10.2200 per share Value per BTZ common share referenced by the grant
Total Performance Rights after grant 20,110.7900 rights Holdings following the 960.9600-right award
Conversion ratio 1 right : 1 BTZ share cash value Each right equals cash value of one common share
Settlement form 100% cash Future settlement of Performance Rights at chosen deferral date
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."

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FAQ

What did BTZ director Lorenzo Flores report in this Form 4 filing?
Lorenzo Flores reported receiving 960.9600 Performance Rights tied to BLACKROCK CREDIT ALLOCATION INCOME TRUST. These rights were granted under a deferred compensation plan and increase his total Performance Rights holdings to 20,110.7900, all linked economically to BTZ common stock.

Are the Performance Rights reported by BTZ’s Lorenzo Flores settled in stock or cash?
The Performance Rights are settled entirely in cash, not BTZ shares. Each right is convertible into the cash value of one BLACKROCK CREDIT ALLOCATION INCOME TRUST share, with payment made at the deferral date selected by Flores under the deferred compensation plan.

How many BLACKROCK CREDIT ALLOCATION INCOME TRUST Performance Rights does Lorenzo Flores hold after this award?
After this award, Lorenzo Flores holds 20,110.7900 Performance Rights tied to BTZ. This total reflects the newly granted 960.9600 rights added to his prior balance, all representing cash-settled economic exposure to BTZ common stock under the deferred compensation arrangement.

What is the economic reference price for the new BTZ Performance Rights grant?
The 960.9600 newly granted Performance Rights reference an underlying BTZ common share value of $10.2200. This price represents the per-share figure used to size the award, with each right tied to the cash value of one BLACKROCK CREDIT ALLOCATION INCOME TRUST share.

Does the BTZ Performance Rights grant give Lorenzo Flores voting rights in the trust?
The filing states the Performance Rights will be settled 100% in cash, indicating no delivery of BTZ shares. Because the award is cash-settled, it provides economic exposure to the trust’s share value but does not itself grant share ownership or voting rights.
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)
07/01/2026		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)07/01/2026A960.96 (3) (3)Common Stock960.96$10.2220,110.79D
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-Fact07/06/2026
** 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