CII (NYSE: CII) director receives cash-settled performance rights grant
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
Steinmetz Arthur Philip reported acquisition or exercise transactions in this Form 4 filing.
BlackRock Enhanced Large Cap Core Fund, Inc. director Arthur Philip Steinmetz received a grant of performance rights as part of deferred compensation. He was awarded 327.0900 performance rights on the transaction date, each linked to the cash value of one share of common stock.
The award was accrued under the BlackRock Deferred Compensation Plan and increases his total performance rights to 3682.8000. These performance rights are convertible into the cash value of common shares and are to be settled 100% in cash at the deferral period chosen by the reporting person, rather than in actual fund shares.
Positive
- None.
Negative
- None.
Insider Trade Summary
1 transaction reported
Mixed
1 txn
Insider
Steinmetz Arthur Philip
Role
Director
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Performance Rights | 327.09 | $21.48 | $7K |
Holdings After Transaction:
Performance Rights — 3,682.8 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 Enhanced Large Cap Core Fund, Inc. The Performance Rights are to be settled 100% in cash at the deferral period chosen by the reporting person.
Key Figures
Performance rights granted: 327.0900 rights
Price reference per right: $21.4800 per share
Total performance rights after grant: 3682.8000 rights
+1 more
4 metrics
Performance rights granted
327.0900 rights
Grant on 2026-04-01 classified as award acquisition
Price reference per right
$21.4800 per share
Transaction price per share used for the performance rights
Total performance rights after grant
3682.8000 rights
Total performance rights following the reported transaction
Underlying common stock linkage
327.0900 shares-equivalent
Each right tied to cash value of one common share
Key Terms
Performance Rights, BlackRock Deferred Compensation Plan, cash value
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."
cash value financial
"One Performance Right is convertible into the cash value of one share of BlackRock Enhanced Large Cap Core Fund, Inc."
FAQ
What insider transaction did CII director Arthur Philip Steinmetz report?
Arthur Philip Steinmetz reported receiving 327.0900 performance rights as compensation. The rights were granted under the BlackRock Deferred Compensation Plan and are tied to the cash value of BlackRock Enhanced Large Cap Core Fund, Inc. common stock rather than delivering actual fund shares.
How many performance rights does the CII director hold after this Form 4 filing?
After this grant, the director holds 3682.8000 performance rights. This figure reflects the updated total reported in the filing and shows the cumulative amount of deferred, cash-settled compensation rights linked to the fund’s common stock value.
How are the CII performance rights settled for Arthur Philip Steinmetz?
The performance rights are settled 100% in cash, not in shares. According to the filing, they will be paid at the deferral period chosen by the reporting person, based on the cash value of BlackRock Enhanced Large Cap Core Fund, Inc. common stock at settlement.
What does one performance right represent for BlackRock Enhanced Large Cap Core Fund, Inc.?
One performance right is convertible into the cash value of one share of the fund’s common stock. This means the director’s 327.0900 new rights entitle him to a cash amount linked to 327.0900 shares’ value at the eventual settlement date.
What plan governs the performance rights awarded to the CII director?
The performance rights were accrued under the BlackRock Deferred Compensation Plan. This plan allows compensation to be deferred and linked to the cash value of BlackRock Enhanced Large Cap Core Fund, Inc. common stock, with settlement in cash at a chosen future deferral period.