BlackRock BTZ Form 4: 969.78 cash‑settled performance rights reported

Rhea-AI Filing Summary

Robert Glenn Hubbard, a director of BlackRock Credit Allocation Income Trust (BTZ), reported an acquisition on 10/01/2025 of 969.78 performance rights under the BlackRock Deferred Compensation Plan. Each performance right is convertible into the cash value of one BTZ share and, per the filer, the awards are to be settled 100% in cash at the deferral date chosen by the reporting person. The filing lists 73,595.4 as the number of underlying common shares equivalent reported after the transaction and shows a per-right price reference of $11.03. The Form 4 was signed by an attorney-in-fact on 10/03/2025.

Positive

• Director reported acquisition of 969.78 performance rights
• Performance rights are documented under the BlackRock Deferred Compensation Plan
• Settlement is specified as 100% cash, clarifying payout form

Negative

• None.

Insights

Corporate Governance Analyst

Director received deferred compensation in performance rights convertible to cash.

The filing documents that Robert Glenn Hubbard acquired 969.78 performance rights on 10/01/2025 under the BlackRock Deferred Compensation Plan, indicating alignment of director compensation with firm‑managed trust performance.

The report is a non-disposal acquisition and shows the rights will be settled in cash, which means no immediate issuance of BTZ shares is recorded here.

Executive Compensation Specialist

Performance rights convert to cash value of one share each and are cash‑settled.

Each Performance Right is convertible into the cash value of one BTZ share and will be settled 100% in cash, per the explanatory notes. The entry lists a reference price of $11.03 per right and reports 73,595.4 underlying common stock equivalence after the transaction.

This indicates the award is a deferred cash compensation vehicle rather than an immediate equity grant.

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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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^*

HUBBARD ROBERT GLENN

(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		969.78		(3)	(3)	Common Stock	969.78	$11.03	73,595.4	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 did BTZ director Robert Glenn Hubbard acquire?

He acquired 969.78 performance rights under the BlackRock Deferred Compensation Plan on 10/01/2025.

How are the performance rights settled according to the Form 4?

The Form 4 states the Performance Rights are to be settled 100% in cash at the deferral period chosen by the reporting person.

What does one Performance Right convert into?

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

What price is shown in the filing for the Performance Rights?

The filing lists a price reference of $11.03 per Performance Right.

How many underlying common shares are reported after the transaction?

The Form 4 reports 73,595.4 as the amount of underlying common stock equivalence following the transaction.