Saba Capital trims ECAT stake with 116K-share sale (NYSE: ECAT)

Rhea-AI Filing Summary

Saba Capital Management, L.P., a more than ten percent owner of BlackRock ESG Capital Allocation Term Trust (ECAT), reported an open-market sale of common stock. On May 4, 2026, it sold 116,376 ECAT shares at $14.87 per share. After this transaction, Saba Capital reported 20,742,755 ECAT shares held indirectly.

Insider Trade Summary

Net Seller: 116,376 shares ($1,730,511)

Net Sell 1 txn

Insider Saba Capital Management, L.P.

Role null

Sold 116,376 shs ($1.73M)

Type	Security	Shares	Price	Value
Sale	Common Stock	116,376	$14.87	$1.73M

Holdings After Transaction: Common Stock — 20,742,755 shares (Indirect, -)

Footnotes (1)

Key Figures

Shares sold: 116,376 shares Sale price per share: $14.87 per share Shares held after transaction: 20,742,755 shares

3 metrics

Shares sold 116,376 shares Open-market sale of ECAT common stock on May 4, 2026

Sale price per share $14.87 per share Average price for 116,376 ECAT shares sold

Shares held after transaction 20,742,755 shares Indirect ECAT holdings reported following the sale

Key Terms

open-market sale, indirect ownership, ten percent owner

3 terms

open-market sale financial

"it sold 116,376 ECAT shares at $14.87 per share in an open-market sale"

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.

indirect ownership financial

"After this transaction, Saba Capital reported 20,742,755 ECAT shares held indirectly"

ten percent owner financial

"Saba Capital Management, L.P., a more than ten percent owner of BlackRock ESG Capital Allocation Term Trust"

Form 4 Insider Transactions: What Each Field Means →

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

3. Date of Earliest Transaction (Month/Day/Year)
05/04/2026

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	05/04/2026		S		116,376	D	$14.87	20,742,755	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	05/05/2026
	Boaz Weinstein	05/05/2026
	** 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)

FAQ

What insider transaction did Saba Capital report for ECAT?

Saba Capital Management reported an open-market sale of 116,376 ECAT common shares at $14.87 per share on May 4, 2026. This transaction reflects trading activity by a more than ten percent owner in BlackRock ESG Capital Allocation Term Trust.

How many ECAT shares does Saba Capital hold after this Form 4?

After the reported transaction, Saba Capital Management reported holding 20,742,755 ECAT shares indirectly. This figure shows its remaining position in BlackRock ESG Capital Allocation Term Trust following the May 4, 2026 open-market sale of 116,376 common shares.

What price did Saba Capital receive per ECAT share in the sale?

Saba Capital’s reported sale price was $14.87 per ECAT share. This reflects the average transaction price for the 116,376 common shares sold in an open-market transaction on May 4, 2026, as disclosed in the Form 4 filing.

Is Saba Capital a significant shareholder of ECAT?

Yes. The Form 4 indicates Saba Capital Management is a more than ten percent owner of BlackRock ESG Capital Allocation Term Trust. Even after selling 116,376 shares, it reported indirect ownership of 20,742,755 ECAT shares, underscoring its large stake.

Was the ECAT transaction by Saba Capital a buy or a sell?

The transaction was a sale. The Form 4 uses code “S” and describes it as an open-market sale of 116,376 ECAT common shares at $14.87 per share, reducing Saba Capital’s indirectly held position to 20,742,755 shares.

Are Saba Capital’s ECAT holdings reported as direct or indirect?

Saba Capital’s ECAT holdings are reported as indirect ownership. The Form 4 lists the transaction with ownership type marked as indirect, and total shares following the transaction were 20,742,755 ECAT common shares held indirectly rather than directly.