Saba Capital sells 184,322 BlackRock ESG Capital (NYSE: ECAT) shares

Filing Impact

(Very High)

Filing Sentiment

(Negative)

Form Type

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 common stock. It sold 68,868 shares on May 12, 2026 at $15.17 per share and 115,454 shares on May 13, 2026 at $15.52 per share. After these indirect transactions, Saba Capital reported holding 19,788,255 common shares.

Insider Trade Summary

Net Seller: 184,322 shares ($2,836,574)

Net Sell 2 txns

Insider Saba Capital Management, L.P.

Role null

Sold 184,322 shs ($2.84M)

Type	Security	Shares	Price	Value
Sale	Common Stock	115,454	$15.52	$1.79M
Sale	Common Stock	68,868	$15.17	$1.04M

Holdings After Transaction: Common Stock — 19,788,255 shares (Indirect, -)

Footnotes (1)

Key Figures

Shares sold May 12, 2026: 68,868 shares Price May 12, 2026: $15.17/share Shares sold May 13, 2026: 115,454 shares +3 more

6 metrics

Shares sold May 12, 2026 68,868 shares Open-market sale of ECAT common stock at $15.17 per share

Price May 12, 2026 $15.17/share Sale price for 68,868 ECAT common shares

Shares sold May 13, 2026 115,454 shares Open-market sale of ECAT common stock at $15.52 per share

Price May 13, 2026 $15.52/share Sale price for 115,454 ECAT common shares

Total shares sold 184,322 shares Aggregate ECAT common shares sold across both transactions

Shares owned after transactions 19,788,255 shares Indirect ECAT common stock holdings reported post-sale

Key Terms

open-market sale, ten percent owner, indirect ownership, Form 4

4 terms

open-market sale financial

"Transaction action is described as an open-market sale of common stock."

An open-market sale is when a shareholder sells existing shares directly on a public exchange to any willing buyer, rather than through a private deal. Think of it like putting goods on a busy market stall where price is set by supply and demand; for investors it matters because such sales increase available supply, can put short-term downward pressure on the stock price, and signal changes in liquidity or investor confidence.

ten percent owner financial

"Saba Capital Management, L.P. is marked as a ten percent owner."

indirect ownership financial

"Each transaction lists ownership type as indirect with code I."

Form 4 regulatory

"The insider transactions are disclosed in a Form 4 filing."

Form 4 is a official document that company insiders, such as executives or major shareholders, file with regulators whenever they buy or sell company shares. It provides transparency about how those with inside knowledge are trading, helping investors see if insiders are confident in the company's prospects or may be selling for personal reasons. This information can influence investor decisions by revealing insiders' perspectives on the company's value.

Form 4 Insider Transactions: What Each Field Means →

05/14/2026 - 09:40 AM

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

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)
05/12/2026

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)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Common Stock	05/12/2026		S		68,868	D	$15.17	19,903,709	I	-
Common Stock	05/13/2026		S		115,454	D	$15.52	19,788,255	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)
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)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)

Explanation of Responses:

	Saba Capital Management, L.P. By: Zachary Gindes	05/14/2026
	Boaz Weinstein	05/14/2026
	** 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)

Source: View Original Filing on SEC EDGAR

FAQ

What insider transaction did Saba Capital report for ECAT?

Saba Capital Management, L.P. reported selling ECAT common stock in two open-market trades. It disposed of 68,868 shares on May 12, 2026 and 115,454 shares on May 13, 2026, according to the Form 4 filing.

How many ECAT shares did Saba Capital sell in total?

Saba Capital sold a total of 184,322 ECAT common shares. The sales were executed in two tranches: 68,868 shares at $15.17 per share and 115,454 shares at $15.52 per share, all classified as open-market transactions.

At what prices did Saba Capital sell its ECAT shares?

Saba Capital’s ECAT share sales occurred at two distinct prices. It sold 68,868 common shares at $15.17 per share on May 12, 2026 and 115,454 shares at $15.52 per share on May 13, 2026 in open-market trades.

How many ECAT shares does Saba Capital own after these sales?

Following the reported transactions, Saba Capital reported indirect ownership of 19,788,255 ECAT common shares. This post-transaction figure comes directly from the Form 4 and reflects holdings after completing both open-market sales disclosed.

Are Saba Capital’s ECAT holdings direct or indirect after the Form 4?

The Form 4 indicates Saba Capital’s ECAT holdings are indirect. Each transaction is marked with an indirect ownership code, and the 19,788,255 shares listed as held after the transactions are shown as indirectly owned rather than directly registered.

What type of transactions did Saba Capital execute in ECAT?

Saba Capital executed open-market sales of ECAT common stock. The Form 4 classifies both transactions with code “S,” described as sales in open market or private transactions, with no derivative exercises or gifts reported in this filing.