Saba Capital cuts ECAT stake: BlackRock ESG Capital Allocation Term Trust (NYSE: ECAT)

Rhea-AI Filing Summary

Saba Capital Management, L.P., a 10% owner of BlackRock ESG Capital Allocation Term Trust (ECAT), reported indirect sales totaling 306,744 Common Stock shares on July 28–29, 2026, at prices of $15.15 and $14.94 per share in open market or private transactions. The filing does not indicate a Rule 10b5-1 trading plan.

Insider Trade Summary

Net Seller: 306,744 shares

Net Sell 2 txns

Insider Saba Capital Management, L.P.

Role 10% Owner

Sold 306,744 shs ($4.61M)

Type	Security	Shares	Price	Value
Sale	Common Stock	158,002	$14.94	$2.36M
Sale	Common Stock	148,742	$15.15	$2.25M

Holdings After Transaction: Common Stock — 16,146,859 shares (Indirect, _)

Key Figures

Shares sold 2026-07-29: 158,002 shares Price 2026-07-29: $14.94 per share Shares sold 2026-07-28: 148,742 shares +3 more

6 metrics

Shares sold 2026-07-29 158,002 shares Indirect sale of Common Stock at $14.94 per share on 2026-07-29

Price 2026-07-29 $14.94 per share Sale price for 158,002 Common Stock shares on 2026-07-29

Shares sold 2026-07-28 148,742 shares Indirect sale of Common Stock at $15.15 per share on 2026-07-28

Price 2026-07-28 $15.15 per share Sale price for 148,742 Common Stock shares on 2026-07-28

Total shares sold 306,744 shares Aggregate indirect sales of ECAT Common Stock reported in this Form 4

Rule 10b5-1 status Unchecked Document-level Rule 10b5-1 trading plan checkbox is not affirmed

Key Terms

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

3 terms

ten percent owner regulatory

"Identified as a ten percent owner of BlackRock ESG Capital Allocation Term Trust"

indirect ownership regulatory

"Transactions are reported with indirect ownership (code I) of the Common Stock"

Sale in open market or private transaction financial

"Transaction code S described as Sale in open market or private transaction"

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Form 4 Insider Transactions: What Each Field Means →

Available on EDGAR 07/30/2026 - 04:55 PM Accepted by SEC EDGAR 07/30/2026 - 04:55 PM Learn about SEC filing dates

FAQ

What insider trading activity did Saba Capital report for ECAT?

Saba Capital Management, a 10% owner of ECAT, reported indirect sales of 306,744 Common Stock shares on July 28–29, 2026. The transactions were recorded as open market or private sales at prices of $15.15 and $14.94 per share.

How many ECAT shares did Saba Capital sell on July 29, 2026?

On July 29, 2026, Saba Capital sold 158,002 ECAT Common Stock shares indirectly at a price of $14.94 per share. The sale was classified as an open market or private transaction under code S on the Form 4 filing.

How many ECAT shares did Saba Capital sell on July 28, 2026?

On July 28, 2026, Saba Capital reported an indirect sale of 148,742 ECAT Common Stock shares at $15.15 per share. This transaction was also coded S, indicating a sale in an open market or private transaction, according to the Form 4 data.

Is Saba Capital considered a 10% owner of ECAT in this filing?

Yes. The reporting status identifies Saba Capital Management, L.P. as a ten percent owner of BlackRock ESG Capital Allocation Term Trust (ECAT). This ownership status subjects Saba to Form 4 reporting requirements for its transactions in the trust’s Common Stock.

Were Saba Capital’s ECAT sales made under a Rule 10b5-1 trading plan?

The Form 4 indicates the Rule 10b5-1 checkbox is not affirmed, so the reported ECAT sales are not designated as made under a Rule 10b5-1 trading plan. The transactions are described simply as open market or private sales.

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
[0001864843]

3. Date of Earliest Transaction (Month/Day/Year)
07/28/2026

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	07/28/2026		S		148,742	D	$15.15	16,304,861	I	_
Common Stock	07/29/2026		S		158,002	D	$14.94	16,146,859	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	07/30/2026
	Boaz Weinstein	07/30/2026
	** 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)