Saba/Weinstein Sells 81,045 ECAT Shares at ~$16.6

Form 4 summary: Saba Capital Management, L.P. and Boaz Weinstein reported insider sales of BlackRock ESG Capital Allocation Term Trust (ECAT) common stock.

Rhea-AI Filing Summary

Form 4 summary: Saba Capital Management, L.P. and Boaz Weinstein reported insider sales of BlackRock ESG Capital Allocation Term Trust (ECAT) common stock. On 08/28/2025 they sold 4,397 shares at $16.63 and on 08/29/2025 they sold 76,648 shares at $16.51. Beneficial ownership declined from 28,600,644 shares to 28,523,996 shares; ownership is reported indirect. The filing is signed by Saba and Boaz Weinstein.

Insights

Financial Analyst

TL;DR: Reported insider sales totaling 81,045 shares reduced indirect holdings slightly; impact appears routine and not materially transformative.

The two sales on 08/28/2025 and 08/29/2025 total 81,045 common shares sold at average prices near $16.6, lowering reported indirect beneficial ownership from 28,600,644 to 28,523,996 shares. The absolute size of remaining holdings remains large, and the transactions are reported as routine dispositions rather than derivative exercises or acquisitions. From a financial-analysis perspective, these transactions do not by themselves indicate a material change to the company’s capital structure or a shift in control.

Corporate Governance Expert

TL;DR: Insider sales were disclosed properly on Form 4; filings show indirect ownership and include required signatures.

The Form 4 identifies Saba Capital Management, L.P. and Boaz Weinstein as reporting persons and marks the relationship as director and 10% owner. Transactions are coded as sales with prices and post-transaction beneficial ownership reported. The document includes signatures and dates, meeting disclosure formalities. There is no indication in the filing of an affiliated plan or unusual timing that would raise governance flags from the filing alone.

Insider Trade Summary

Net Seller: 81,045 shares

Net Sell 2 txns

Insider Saba Capital Management, L.P., Weinstein Boaz

Role 10% Owner | 10% Owner

Sold 81,045 shs ($1.34M)

Type	Security	Shares	Price	Value
Sale	Common Stock	76,648	$16.51	$1.27M
Sale	Common Stock	4,397	$16.63	$73K

Holdings After Transaction: Common Stock — 28,523,996 shares (Indirect, -)

FAQ

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

What insider transactions were reported for ECAT?

The filing reports sales of 4,397 shares on 08/28/2025 at $16.63 and 76,648 shares on 08/29/2025 at $16.51.

Who filed the Form 4 for ECAT?

The Form 4 was filed by Saba Capital Management, L.P. and individual reporting person Boaz Weinstein.

How did beneficial ownership change after the reported transactions?

Beneficial ownership declined from 28,600,644 shares to 28,523,996 shares (reported as indirect ownership).

Were the transactions purchases or sales?

Both reported transactions are sales (transaction code S) of common stock.

Are there derivative transactions reported in this filing?

No. Table II for derivative securities contains no reported transactions or holdings.

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

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Accepted by SEC EDGAR 09/02/2025 - 04:09 PM 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)
08/28/2025

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

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

	Form filed by One Reporting Person
X	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	08/28/2025		S		4,397	D	$16.63	28,600,644	I	-
Common Stock	08/29/2025		S		76,648	D	$16.51	28,523,996	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

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)

Relationship of Reporting Person(s) to Issuer

	Director	X	10% Owner
	Officer (give title below)		Other (specify below)

1. Name and Address of Reporting Person^*

Weinstein Boaz

(Last) (First) (Middle)

405 LEXINGTON AVENUE

58TH FLOOR

(Street)

NEW YORK NY 10174

(City) (State) (Zip)

Relationship of Reporting Person(s) to Issuer

	Director	X	10% Owner
	Officer (give title below)		Other (specify below)

Explanation of Responses:

	Saba Capital Management, L.P. By: Zachary Gindes	09/02/2025
	Boaz Weinstein	09/02/2025
	** 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.