Saba Capital (NYSE: ECAT) records small open-market share sale

Rhea-AI Filing Summary

Saba Capital Management, L.P., a more than ten percent owner of BlackRock ESG Capital Allocation Term Trust (ECAT), reported an open-market sale of 13,782 shares of common stock at $14.62 per share. After this transaction, it still indirectly holds 21,514,400 shares, so the sale represents a small portion of its position.

Insider Trade Summary

Net Seller: 13,782 shares ($201,493)

Net Sell 1 txn

Insider Saba Capital Management, L.P.

Role null

Sold 13,782 shs ($201K)

Type	Security	Shares	Price	Value
Sale	Common Stock	13,782	$14.62	$201K

Holdings After Transaction: Common Stock — 21,514,400 shares (Indirect, -)

Footnotes (1)

Key Figures

Shares sold: 13,782 shares Sale price per share: $14.62 per share Shares held after transaction: 21,514,400 shares

3 metrics

Shares sold 13,782 shares Open-market sale of ECAT common stock on April 20, 2026

Sale price per share $14.62 per share Price for the 13,782 ECAT shares sold

Shares held after transaction 21,514,400 shares Indirect ECAT holdings following the reported sale

Key Terms

open-market sale, indirect ownership, ten percent owner

3 terms

open-market sale financial

"reported an open-market sale of 13,782 shares of common stock"

An open-market sale is when a shareholder sells existing shares directly on a public exchange to any willing buyer, rather than through a private deal. Think of it like putting goods on a busy market stall where price is set by supply and demand; for investors it matters because such sales increase available supply, can put short-term downward pressure on the stock price, and signal changes in liquidity or investor confidence.

indirect ownership financial

"it still indirectly holds 21,514,400 shares"

ten percent owner financial

"a more than ten percent owner of BlackRock ESG Capital Allocation Term Trust"

Form 4 Insider Transactions: What Each Field Means →

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 NEW YORK 10174

(City) (State) (Zip)

UNITED STATES

(Country)

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)

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
04/20/2026

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)
			Code	V	Amount	(A) or (D)	Price
Common Stock	04/20/2026		S		13,782	D	$14.62	21,514,400	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

Explanation of Responses:

	Saba Capital Management, L.P. By: Zachary Gindes	04/21/2026
	Boaz Weinstein	04/21/2026
	** 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)

FAQ

What did Saba Capital Management report in this ECAT Form 4 filing?

Saba Capital Management reported an open-market sale of 13,782 ECAT common shares at $14.62 per share. The transaction reflects activity by a more than ten percent owner and updates the market on Saba’s current indirect holdings in the trust.

How many BlackRock ESG Capital Allocation Term Trust (ECAT) shares did Saba Capital sell?

Saba Capital Management sold 13,782 shares of ECAT common stock in a single open-market transaction. This reported sale is small compared with its remaining indirect holdings and mainly updates ownership records rather than signaling a major position change.

What is Saba Capital’s ECAT shareholding after the reported sale?

After the reported transaction, Saba Capital Management indirectly holds 21,514,400 ECAT shares. This figure shows that, despite the open-market sale of 13,782 shares, Saba continues to maintain a very large position in BlackRock ESG Capital Allocation Term Trust.

Was the ECAT transaction by Saba Capital an open-market sale or another type?

The Form 4 describes the ECAT transaction as an open-market sale of common stock. This means shares were sold through normal trading on the market rather than via a private agreement or derivative exercise, providing transparency on straightforward selling activity.

Does Saba Capital hold ECAT shares directly or indirectly after this Form 4?

The filing characterizes Saba Capital Management’s post-transaction ownership of 21,514,400 ECAT shares as indirect. Indirect ownership typically involves holdings through funds, partnerships, or related entities instead of in Saba’s own name on the share register.