Director at BlackRock Enhanced Large Cap Core (NYSE: CII) gets cash-settled rights
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
KESTER W CARL reported acquisition or exercise transactions in this Form 4 filing.
BlackRock Enhanced Large Cap Core Fund director Carl W. Kester received a grant of 31.69 Performance Rights tied to the fund’s common stock value. Each right references a value of $21.48, bringing his total Performance Rights holdings to 3,320.32 after this award.
The Performance Rights were accrued under the BlackRock Deferred Compensation Plan. One Performance Right reflects the cash value of one share of common stock and is to be settled 100% in cash at the deferral period chosen by Kester, rather than in actual shares.
Positive
- None.
Negative
- None.
Insider Trade Summary
1 transaction reported
Mixed
1 txn
Insider
KESTER W CARL
Role
Director
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Performance Rights | 31.69 | $21.48 | $680.70 |
Holdings After Transaction:
Performance Rights — 3,320.32 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: 31.69 rights
Reference value per right: $21.48 per right
Total Performance Rights after grant: 3,320.32 rights
+2 more
5 metrics
Performance Rights granted
31.69 rights
Grant/award on April 1, 2026
Reference value per right
$21.48 per right
Transaction price per Performance Right
Total Performance Rights after grant
3,320.32 rights
Holdings following the reported transaction
Conversion or exercise price
$0.00
Performance Rights convertible to cash value, not shares
Underlying security
Common Stock
Each right tied to value of one common share
Key Terms
Performance Rights, BlackRock Deferred Compensation Plan, convertible into the cash value, settled 100% in cash
4 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."
convertible into the cash value financial
"One Performance Right is convertible into the cash value of one share of BlackRock Enhanced Large Cap Core Fund, Inc."
settled 100% in cash financial
"The Performance Rights are to be settled 100% in cash at the deferral period chosen by the reporting person."
FAQ
What insider transaction did CII director Carl W. Kester report on this Form 4?
Carl W. Kester reported receiving 31.69 Performance Rights as a grant under the BlackRock Deferred Compensation Plan. These rights are linked to the cash value of BlackRock Enhanced Large Cap Core Fund common stock and increase his total Performance Rights holdings to 3,320.32 after the transaction.
How are the CII Performance Rights held by Carl W. Kester settled?
The Performance Rights are settled 100% in cash at the deferral period chosen by Carl W. Kester. Each right corresponds to the cash value of one share of BlackRock Enhanced Large Cap Core Fund common stock, meaning no actual shares are delivered upon settlement of these awards.
What does one Performance Right represent for BlackRock Enhanced Large Cap Core Fund (CII)?
One Performance Right is convertible into the cash value of one share of BlackRock Enhanced Large Cap Core Fund common stock. This links the award’s value directly to the fund’s share price while remaining a cash-settled obligation under the BlackRock Deferred Compensation Plan for the reporting person.
What total position in Performance Rights does Carl W. Kester hold after this CII grant?
Following the reported grant, Carl W. Kester holds 3,320.32 Performance Rights. This figure reflects his cumulative position after adding the 31.69 newly awarded rights, all accrued under the BlackRock Deferred Compensation Plan and tied to the cash value of the fund’s common stock.
Is the April 1, 2026 CII insider transaction a stock purchase or a compensation grant?
The April 1, 2026 transaction is a compensation-related grant, coded as an “A” for grant, award, or other acquisition. Kester received 31.69 Performance Rights under a deferred compensation plan, which pay cash based on the fund’s share value rather than representing an open-market stock purchase.