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BlackRock ESG Capital Trust holder Saba sells 133K shares

BlackRock ESG Capital Allocation Term Trust (ECAT) reported that Saba Capital Management, L.P., a ten percent owner, made two indirect open-market sales of ECAT common stock.

Filing Impact
(Very High)
Filing Sentiment
(Negative)
Form Type
4

Rhea-AI Filing Summary

BlackRock ESG Capital Allocation Term Trust (ECAT) reported that Saba Capital Management, L.P., a ten percent owner, made two indirect open-market sales of ECAT common stock. On September 1, 2026, Saba Capital sold 79,453 shares at $15.27 per share, and on September 2, 2026, it sold 53,758 shares at $15.28 per share, for total reported sales of 133,211 shares. No post-transaction share balance is stated, and the filing indicates the trades were not made under a Rule 10b5-1 trading plan.

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Insights

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Insider Saba Capital Management, L.P.
Role 10% Owner
Sold 133,211 shs ($2.03M)
Type Security Shares Price Value
Sale Common Stock 53,758 $15.28 $821K
Sale Common Stock 79,453 $15.27 $1.21M
Holdings After Transaction: Common Stock — 13,459,831 shares (Indirect, -)
Shares sold September 1, 2026 79,453 shares Indirect sale of ECAT common stock by Saba Capital
Sale price September 1, 2026 $15.27 per share Indirect sale of 79,453 ECAT common shares
Shares sold September 2, 2026 53,758 shares Indirect sale of ECAT common stock by Saba Capital
Sale price September 2, 2026 $15.28 per share Indirect sale of 53,758 ECAT common shares
Total shares sold 133,211 shares Sum of ECAT common shares sold September 1–2, 2026
ten percent owner regulatory
"Saba Capital Management, L.P. is identified as a ten percent owner"
indirect ownership financial
"The reported ECAT transactions are classified as indirect ownership"
Rule 10b5-1 trading plan regulatory
"The filing indicates the trades were not made under a Rule 10b5-1 trading plan"
A Rule 10b5-1 trading plan is a pre-arranged schedule that allows company insiders to buy or sell stock at specific times, even if they have inside information. It helps prevent accusations of unfair trading by making these transactions look planned and transparent, rather than sneaky or illegal.
open-market sales market
"Two indirect open-market sales of ECAT common stock were reported"
Open-market sales are when a shareholder or a company sells shares directly on the public stock market rather than through a private deal. Investors care because these sales increase the number of shares available for purchase—like several homeowners putting houses for sale at once—which can lower the stock price, change liquidity, and signal how confident large holders are about the company’s prospects.

FAQ

What insider activity did ECAT report in this Form 4?
The Form 4 reports that Saba Capital Management, L.P., a ten percent owner, sold a total of 133,211 ECAT common shares in two indirect open-market transactions on September 1 and 2, 2026.

How many ECAT shares did Saba Capital sell on each date?
On September 1, 2026, Saba Capital sold 79,453 ECAT common shares at $15.27 per share. On September 2, 2026, it sold 53,758 shares at $15.28 per share.

Were the reported ECAT share sales under a Rule 10b5-1 trading plan?
No. The filing’s Rule 10b5-1 checkbox is marked in a way that indicates the transactions were not made pursuant to a Rule 10b5-1 trading plan.

Are Saba Capital’s ECAT holdings after these sales disclosed?
No. The Form 4 reports the number of shares sold in each transaction but does not state Saba Capital’s total ECAT share holdings following the transactions.

Does Saba Capital hold ECAT shares directly or indirectly?
The reported ECAT transactions are classified as indirect ownership, meaning the sales relate to ECAT common shares held through an entity or structure associated with Saba Capital, rather than direct personal holdings.

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SEC Form 4
FORM 4UNITED 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)
DirectorX10% Owner
Officer (give title below)Other (specify below)
2a. Foreign Trading Symbol
3. Date of Earliest Transaction (Month/Day/Year)
09/01/2026		6. Individual or Joint/Group Filing (Check Applicable Line)
XForm 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)
CodeVAmount(A) or (D)Price
Common Stock09/01/2026S79,453D$15.2713,513,589I-
Common Stock09/02/2026S53,758D$15.2813,459,831I-
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)
CodeV(A)(D)Date ExercisableExpiration DateTitleAmount or Number of Shares
Explanation of Responses:
Saba Capital Management, L.P. By: Zachary Gindes09/03/2026
Boaz Weinstein09/03/2026
** Signature of Reporting PersonDate
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)

Source: View Original Filing on SEC EDGAR