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BTZ (BTZ) director adds 115 cash-settled Performance Rights in new grant

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

Rhea-AI Filing Summary

BLACKROCK CREDIT ALLOCATION INCOME TRUST director Carl Kester received a compensation grant of Performance Rights tied to the trust’s common shares. On this Form 4, he acquired 115 Performance Rights, each reflecting the cash value of one BTZ common share.

The award was accrued under the BlackRock Deferred Compensation Plan and will be settled 100% in cash at a deferral period he selected, rather than in stock. Following this grant, he holds a total of 33,119.73 Performance Rights, reinforcing that this filing reflects deferred, cash-settled compensation rather than an open‑market share purchase or sale.

Positive

  • None.

Negative

  • None.
Insider KESTER W CARL
Role Director
Type Security Shares Price Value
Grant/Award Performance Rights 115 $10.16 $1K
Holdings After Transaction: Performance Rights — 33,119.73 shares (Direct)
Footnotes (1)
  1. The Performance Rights were accrued under the BlackRock Deferred Compensation Plan. One Performance Right is convertible into the cash value of one share of BlackRock Credit Allocation Income Trust. The Performance Rights are to be settled 100% in cash at the deferral period chosen by the reporting person.
Performance Rights granted 115 Performance Rights Grant under BlackRock Deferred Compensation Plan on 2026-04-01
Grant value per right 10.1600 per right Stated transaction price per Performance Right
Total Performance Rights after grant 33,119.7300 Performance Rights Holdings following reported transaction
Underlying security shares per right 1 share of Common Stock Each Performance Right references one BTZ common share’s cash value
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."
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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Form 4 Insider Transactions: What Each Field Means →
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*
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)
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)04/01/2026A115 (3) (3)Common Stock115$10.1633,119.73D
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

FAQ

What insider transaction did BTZ director Carl Kester report on this Form 4?

Carl Kester reported receiving 115 Performance Rights linked to BLACKROCK CREDIT ALLOCATION INCOME TRUST common stock. These rights were granted as deferred compensation, not bought on the market, and increase his total Performance Rights holdings while remaining entirely cash-settled at a future deferral period.

How are the BTZ Performance Rights reported by Carl Kester structured?

Each Performance Right is convertible into the cash value of one BLACKROCK CREDIT ALLOCATION INCOME TRUST share. They carry a stated value of 10.1600 per right in the filing and will be settled 100% in cash rather than delivering actual BTZ shares to the reporting person.

What plan governs the Performance Rights granted to the BTZ director?

The Performance Rights were accrued under the BlackRock Deferred Compensation Plan. This plan allows the director to receive compensation in the form of cash-settled rights whose value tracks BTZ’s common stock, with payment deferred to a period he chooses in advance.

Will the BTZ Performance Rights grant result in new common shares being issued?

No, the Performance Rights are to be settled 100% in cash at the deferral period selected by the reporting person. Because settlement is cash-based, the filing indicates these rights reference BTZ’s share value without triggering an immediate issuance of additional common stock.

How large is Carl Kester’s total Performance Rights position in BTZ after this award?

After receiving 115 additional Performance Rights, Carl Kester holds 33,119.73 Performance Rights in total. Each right corresponds to the cash value of one BLACKROCK CREDIT ALLOCATION INCOME TRUST common share, reflecting a sizable deferred, cash-settled compensation position tied to BTZ.