BlackRock BTZ: Director Records 766.12 Cash‑Settled Performance Rights

Rhea-AI Filing Summary

BlackRock Credit Allocation Income Trust (BTZ) director Stayce D. Harris reported acquiring 766.12 performance rights on 10/01/2025. The filing shows each Performance Right is convertible into the cash value of one share and the rights are to be settled 100% in cash at the deferral date chosen by the reporting person. The reported price associated with the derivative entry is $11.03 and following the transaction the reporting person beneficially owns 15,761.88 shares (direct). The Performance Rights were accrued under the BlackRock Deferred Compensation Plan and are intended to satisfy internal compensation deferral rules.

Positive

• 766.12 Performance Rights were granted under the BlackRock Deferred Compensation Plan
• Rights are to be settled 100% in cash, avoiding additional share dilution
• Reporting person increased direct beneficial ownership to 15,761.88 shares

Negative

• None.

Insights

Corporate Governance Analyst

Director recorded deferred compensation via 766.12 performance rights settled in cash.

The filing documents a non-immediate cash-settled compensation accrual under the BlackRock Deferred Compensation Plan, rather than an open-market purchase of stock. This keeps equity dilution neutral because the rights convert to cash equal to a share value rather than issuing new shares.

This matters because it signals compensation alignment with shareholder value through a cash-settlement mechanism and increases the director's reported beneficial ownership to 15,761.88 shares on record.

Compensation & Tax Specialist

Performance Rights are cash-settled and one-for-one with share value, implying deferred pay exposure to share price.

The disclosure states each Performance Right equals the cash value of one share and will be settled 100% in cash, which affects tax timing and company cash obligations at payout but does not change outstanding share count.

For investors, the key operational effect is potential future cash outflow tied to the trust's share value rather than equity dilution.

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
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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^*

Harris Stayce D.

(Last) (First) (Middle)

50 HUDSON YARDS

(Street)

NEW YORK NY 10001

(City) (State) (Zip)

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)

3. Date of Earliest Transaction (Month/Day/Year)
10/01/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)

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

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

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)	10/01/2025		A		766.12		(3)	(3)	Common Stock	766.12	$11.03	15,761.88	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	10/03/2025
	** 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.

FAQ

What transaction did BTZ director Stayce D. Harris report on 10/01/2025?

The director reported acquiring 766.12 Performance Rights on 10/01/2025 under the BlackRock Deferred Compensation Plan.

Are the Performance Rights for BTZ settled in stock or cash?

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

What is the stated per-right price or value in the Form 4?

The derivative entry shows an associated price of $11.03.

How many BTZ shares does the reporting person beneficially own after the transaction?

Following the reported transaction the reporting person beneficially owns 15,761.88 shares (direct).

Under what plan were the Performance Rights accrued?

They were accrued under the BlackRock Deferred Compensation Plan.