Saba Capital sells 198,382 BlackRock ESG Capital Trust (NYSE: ECAT) shares

Rhea-AI Filing Summary

Saba Capital Management, L.P., a ten percent owner of BlackRock ESG Capital Allocation Term Trust (ECAT), reported open-market sales of indirectly held Common Stock. On 2026-07-27 it sold 151,995 shares at $15.1100, and on 2026-07-24 it sold 46,387 shares at $15.1300, totaling 198,382 shares.

Insider Trade Summary

Net Seller: 198,382 shares

Net Sell 2 txns

Insider Saba Capital Management, L.P.

Role 10% Owner

Sold 198,382 shs ($3.00M)

Type	Security	Shares	Price	Value
Sale	Common Stock	151,995	$15.11	$2.30M
Sale	Common Stock	46,387	$15.13	$702K

Holdings After Transaction: Common Stock — 16,453,603 shares (Indirect, _)

Key Figures

Total shares sold: 198,382 shares Shares sold on 2026-07-27: 151,995 shares at $15.1100 Shares sold on 2026-07-24: 46,387 shares at $15.1300 +1 more

4 metrics

Total shares sold 198,382 shares Net shares sold across reported Form 4 transactions

Shares sold on 2026-07-27 151,995 shares at $15.1100 Indirect sale of Common Stock on 2026-07-27

Shares sold on 2026-07-24 46,387 shares at $15.1300 Indirect sale of Common Stock on 2026-07-24

Number of sale transactions 2 Count of non-derivative Common Stock sales reported

Key Terms

ten percent owner, indirect ownership, Sale in open market or private transaction, Common Stock

4 terms

ten percent owner financial

"Reporting person is marked as a ten percent owner of the issuer"

indirect ownership financial

"Each transaction shows ownership code "I" indicating indirect ownership"

Sale in open market or private transaction financial

"Transaction code description is "Sale in open market or private transaction""

Common Stock financial

"Security title for each transaction is listed as Common Stock"

Common stock represents ownership shares in a company, giving investors a stake in its success and a say in important decisions through voting rights. It is the most common type of stock traded on markets and can provide income through dividends, as well as potential for value growth. For investors, holding common stock means sharing in the company’s profits and risks.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Form 4 Insider Transactions: What Each Field Means →

Available on EDGAR 07/28/2026 - 06:00 PM Accepted by SEC EDGAR 07/28/2026 - 06:00 PM Learn about SEC filing dates

FAQ

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

Saba Capital Management reported selling 198,382 shares of BlackRock ESG Capital Allocation Term Trust (ECAT) Common Stock. The sales occurred in two open-market transactions on 2026-07-24 and 2026-07-27 at prices slightly above $15 per share.

How many ECAT shares did Saba Capital Management sell and on which dates?

Saba Capital Management sold a total of 198,382 ECAT shares. It sold 46,387 shares on 2026-07-24 and 151,995 shares on 2026-07-27, as reported in the Form 4 insider trading disclosure.

At what prices were the ECAT shares sold by Saba Capital Management?

The ECAT shares were sold at $15.1300 per share on 2026-07-24 and $15.1100 per share on 2026-07-27. Both transactions involved Common Stock and were reported as open-market or private sale transactions.

Was Saba Capital’s ECAT stock ownership direct or indirect in these transactions?

The reported ECAT sales reflect indirect ownership. Each Form 4 transaction is coded with ownership type “I” for indirect, indicating the Common Stock was held through an entity or structure associated with Saba Capital Management rather than directly.

What is Saba Capital Management’s status relative to ECAT in this Form 4?

Saba Capital Management is identified as a ten percent owner of BlackRock ESG Capital Allocation Term Trust (ECAT). This status subjects it to Form 4 reporting requirements for changes in beneficial ownership of the trust’s Common Stock.

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)
07/24/2026

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	07/24/2026		S		46,387	D	$15.13	16,605,598	I	_
Common Stock	07/27/2026		S		151,995	D	$15.11	16,453,603	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: Maria Piccolino	07/28/2026
	Boaz Weinstein	07/28/2026
	** 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)