Saba Capital and Boaz Weinstein Report Two ECAT Stock Sales

Rhea-AI Filing Summary

Saba Capital Management, L.P. and individual reporting person Boaz Weinstein filed a Form 4 disclosing sales of common stock of BlackRock ESG Capital Allocation Term Trust (ECAT). On 09/09/2025 they reported a sale of 76,416 shares at $16.69 and on 09/10/2025 a sale of 109,895 shares at $16.70. Following those sales the reporting entities beneficially owned 27,988,930 and 27,879,035 shares, respectively. The form is signed and dated 09/11/2025.

Positive

• Timely disclosure of insider transactions with signatures dated 09/11/2025
• Clear reporting of exact share counts and sale prices for each transaction

Negative

• Significant dispositions totaling 186,311 shares sold (76,416 and 109,895)
• Reduction in beneficial ownership shown by post-transaction holdings (27,988,930 and 27,879,035)

Insights

Securities Analyst

TL;DR: Directors/10% owners reported two disclosed stock sales totaling 186,311 shares at ~$16.69–$16.70 per share.

The filings show compliant Section 16 reporting for disposals on 09/09/2025 and 09/10/2025 by Saba Capital Management, L.P. and Boaz Weinstein. The transactions are recorded as dispositions (code S) with post-transaction beneficial ownership levels documented. No derivative transactions or other compensatory grants are reported. The disclosure provides clear quantities, prices, and resulting ownership figures necessary for investor monitoring of insider activity.

Corporate Governance Expert

TL;DR: Timely Form 4 discloses insider sales and updated beneficial ownership; no further context or plans provided.

The document identifies reporting persons as directors and 10% owners and includes manual signatures dated 09/11/2025, indicating formal completion. The report lists two open-market sale transactions (S code) with explicit share counts and prices and shows only indirect beneficial ownership after the sales. There is no amendment, no derivative activity, and no explanatory plan language included on the form.

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^*

Saba Capital Management, L.P.

(Last) (First) (Middle)

405 LEXINGTON AVENUE

58TH FLOOR

(Street)

NEW YORK NY 10174

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
BlackRock ESG Capital Allocation Term Trust [ ECAT ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director	X	10% Owner
	Officer (give title below)		Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
09/09/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

	Form filed by One Reporting Person
X	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
Common Stock	09/09/2025		S		76,416	D	$16.69	27,988,930	I	-
Common Stock	09/10/2025		S		109,895	D	$16.7	27,879,035	I	-

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

1. Name and Address of Reporting Person^*

Saba Capital Management, L.P.

(Last) (First) (Middle)

405 LEXINGTON AVENUE

58TH FLOOR

(Street)

NEW YORK NY 10174

(City) (State) (Zip)

Relationship of Reporting Person(s) to Issuer

	Director	X	10% Owner
	Officer (give title below)		Other (specify below)

1. Name and Address of Reporting Person^*

Weinstein Boaz

(Last) (First) (Middle)

405 LEXINGTON AVENUE

58TH FLOOR

(Street)

NEW YORK NY 10174

(City) (State) (Zip)

Relationship of Reporting Person(s) to Issuer

	Director	X	10% Owner
	Officer (give title below)		Other (specify below)

Explanation of Responses:

	Saba Capital Management, L.P. By: Zachary Gindes	09/11/2025
	Boaz Weinstein	09/11/2025
	** 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 insider transactions were reported for ECAT?

The Form 4 reports sales on 09/09/2025 of 76,416 shares at $16.69 and on 09/10/2025 of 109,895 shares at $16.70.

Who filed the Form 4 for ECAT?

The form was filed by Saba Capital Management, L.P. and individual reporting person Boaz Weinstein, each listed as a director and 10% owner.

What were the beneficial ownership levels after the reported sales?

After the 09/09/2025 sale beneficial ownership is reported as 27,988,930 shares; after the 09/10/2025 sale it is 27,879,035 shares.

Were any derivative securities reported on this Form 4?

No. Table II for derivative securities contains no reported transactions or holdings.

Are the sales coded as open-market transactions or part of a plan?

The transactions are coded S (sale). The form does not indicate they were made pursuant to a 10b5-1 plan.