Are Robert Glenn Hubbard’s new BTZ performance rights an open-market share purchase?

No, the 1,187.660 performance rights are a grant under a deferred compensation plan, not an open-market purchase. They are derivative awards that track BTZ’s common stock value but are settled entirely in cash at a future deferral period selected by Hubbard.

How many BTZ-related performance rights does Robert Glenn Hubbard hold after this filing?

After this award, Robert Glenn Hubbard holds 79,452.560 performance rights linked to BTZ common stock. This figure reflects his total reported performance rights position following the 1,187.660-right grant recorded in the filing for the BlackRock Credit Allocation Income Trust.

Director in BlackRock Credit Trust (NYSE: BTZ) granted cash-settled rights

Filing Impact

(Neutral)

Filing Sentiment

(Neutral)

Form Type

Rhea-AI Filing Summary

BLACKROCK CREDIT ALLOCATION INCOME TRUST director Robert Glenn Hubbard received a grant of performance rights as part of deferred compensation. On this award date, he acquired 1,187.660 performance rights tied to the trust’s common stock, bringing his total reported performance rights holdings to 79,452.560.

The rights were accrued under the BlackRock Deferred Compensation Plan and are not an open-market purchase or sale. Each performance right represents the cash value of one BTZ share and will be settled 100% in cash at the deferral period chosen by Hubbard.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider HUBBARD ROBERT GLENN

Role Director

Type	Security	Shares	Price	Value
Grant/Award	Performance Rights	1,187.66	$10.16	$12K

Holdings After Transaction: Performance Rights — 79,452.56 shares (Direct)

Footnotes (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.

Key Figures

Performance rights granted: 1,187.660 rights Performance rights after grant: 79,452.560 rights Reference value per right: $10.1600 per right +1 more

4 metrics

Performance rights granted 1,187.660 rights Grant under BlackRock Deferred Compensation Plan on award date

Performance rights after grant 79,452.560 rights Total reported holdings of performance rights following transaction

Reference value per right $10.1600 per right Price per underlying share used for the performance rights grant

Conversion ratio 1 right : 1 share cash value Each performance right equals cash value of one BTZ share

Key Terms

Performance Rights, BlackRock Deferred Compensation Plan, deferral period

3 terms

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."

deferral period financial

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

Form 4 Insider Transactions: What Each Field Means →

04/03/2026 - 05:20 PM

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
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^*

HUBBARD ROBERT GLENN

(Last)

(First)

(Middle)

50 HUDSON YARDS

(Street)

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)

X	Director	10% 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)

X	Form 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)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)

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)
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)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
Performance Rights⁽¹⁾	⁽²⁾	04/01/2026		A		1,187.66		⁽³⁾	⁽³⁾	Common Stock	1,187.66	$10.16	79,452.56	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	04/03/2026
	** 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.
* Form 4: SEC 1474 (03-26)

Source: View Original Filing on SEC EDGAR

FAQ

What insider transaction did BTZ director Robert Glenn Hubbard report?

Robert Glenn Hubbard reported receiving 1,187.660 performance rights as compensation. These rights were accrued under the BlackRock Deferred Compensation Plan and increase his total reported performance rights holdings to 79,452.560, all tied economically to BlackRock Credit Allocation Income Trust common stock.

How are the BTZ performance rights held by Robert Glenn Hubbard settled?

The performance rights are settled 100% in cash, not in BTZ shares. Each right pays the cash value of one share of BlackRock Credit Allocation Income Trust at the end of the deferral period that Hubbard selected under the deferred compensation plan.

What does one BTZ performance right represent for Robert Glenn Hubbard?

Each performance right is economically equivalent to one BTZ common share’s value. According to the disclosure, one performance right is convertible into the cash value of one share of BlackRock Credit Allocation Income Trust, providing cash-based exposure rather than direct share ownership.

What plan governs Robert Glenn Hubbard’s BTZ performance rights grant?

The performance rights were accrued under the BlackRock Deferred Compensation Plan. This plan grants cash-settled awards tied to BTZ’s common stock value, allowing Hubbard to defer receipt of compensation until a chosen future period, when the rights are paid out in cash.