ECAT insider sold 32,386 shares at $16.64, retains 27.7M

Saba Capital Management, L.P. reported an insider sale of $16.64 per share for 32,386 shares of BlackRock ESG Capital Allocation Term Trust (ECAT) on 10/08/2025.

Rhea-AI Filing Summary

Saba Capital Management, L.P. reported an insider sale of $16.64 per share for 32,386 shares of BlackRock ESG Capital Allocation Term Trust (ECAT) on 10/08/2025. After the sale the reporting person(s) beneficially own 27,678,171 shares indirectly. The Form 4 was signed on 10/09/2025 by Saba representatives.

Positive

• Large retained indirect stake of 27,678,171 shares indicates ongoing significant exposure
• Transaction disclosed promptly with Form 4 signed on 10/09/2025

Negative

• Disposition of 32,386 shares at $16.64 on 10/08/2025 represents a reduction in holdings

Insights

Corporate Governance Analyst

Insider sale reduces holdings slightly while large indirect stake remains.

The reported transaction is a sale of 32,386 common shares at $16.64 each on 10/08/2025. The filing shows the position is held indirectly, indicating the stake is through Saba Capital Management rather than direct personal ownership.

The remaining indirect beneficial ownership of 27,678,171 shares suggests continued substantial exposure to the issuer; monitor periodic Section 16 filings for further changes over the next quarter.

Insider Trade Summary

Net Seller: 32,386 shares

Net Sell 1 txn

Insider Saba Capital Management, L.P.

Role 10% Owner

Sold 32,386 shs ($539K)

Type	Security	Shares	Price	Value
Sale	Common Stock	32,386	$16.64	$539K

Holdings After Transaction: Common Stock — 27,678,171 shares (Indirect, -)

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What did Saba Capital report for ECAT (ticker: ECAT)?

Saba Capital reported a sale of 32,386 common shares at $16.64 on 10/08/2025.

How many ECAT shares does Saba Capital beneficially own after the transaction?

The filing shows 27,678,171 shares beneficially owned indirectly after the reported sale.

Was the Form 4 timely signed and by whom?

Yes. The Form 4 bears signatures from Saba Capital representatives on 10/09/2025.

Does the filing indicate direct or indirect ownership?

The ownership is reported as indirect (I), indicating the shares are held through the reporting entity rather than direct personal ownership.

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

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Accepted by SEC EDGAR 10/09/2025 - 10:24 AM Learn about SEC filing dates

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)
10/08/2025

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

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

X	Form filed by One Reporting Person
	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	10/08/2025		S		32,386	D	$16.64	27,678,171	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	10/09/2025
	Boaz Weinstein	10/09/2025
	** 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.