BlackRock Credit Allocation Income Trust (BTZ) director reports cash-settled rights

Rhea-AI Filing Summary

BlackRock Credit Allocation Income Trust reported a routine director compensation update. A director of the trust filed a Form 4 showing an award of 24.55 Performance Rights on 01/02/2026 under the BlackRock Deferred Compensation Plan. One Performance Right is tied to the cash value of one share of BlackRock Credit Allocation Income Trust and is to be settled 100% in cash at a deferral period chosen by the director, so no BTZ shares are issued directly from this award.

Following this transaction, the director beneficially owns 9,529.87 Performance Rights in total, held directly. The filing clarifies that these Performance Rights function as a cash-settled, share-value-based component of the director’s deferred compensation, rather than an outright grant of common shares.

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

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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^*

Lynch Catherine A.

(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)
01/02/2026

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)	01/02/2026		A		24.55		(3)	(3)	Common Stock	24.55	$10.78	9,529.87	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	01/06/2026
	** 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.

FAQ

What insider transaction was reported for BTZ on January 2, 2026?

The filing reports that a director of BlackRock Credit Allocation Income Trust (BTZ) received 24.55 Performance Rights on 01/02/2026 under the BlackRock Deferred Compensation Plan.

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

After the reported transaction, the director beneficially owns 9,529.87 Performance Rights, held directly.

What is a Performance Right in the BlackRock Credit Allocation Income Trust plan?

According to the disclosure, one Performance Right is convertible into the cash value of one share of BlackRock Credit Allocation Income Trust, rather than into actual shares.

Will this BTZ director compensation award be settled in stock or cash?

The filing states that the Performance Rights are to be settled 100% in cash at the deferral period chosen by the reporting person, so no common stock is issued from this award.

At what price were the BTZ-related Performance Rights recorded in this transaction?

The transaction table shows the Performance Rights with a price of $10.78 per underlying share-equivalent reference.

What is the relationship of the reporting person to BlackRock Credit Allocation Income Trust (BTZ)?

The reporting person is identified as a Director of BlackRock Credit Allocation Income Trust.