Saba Capital (ECAT) reports open-market sales totaling 301,780 shares

Rhea-AI Filing Summary

Saba Capital Management, L.P., a ten percent owner of BlackRock ESG Capital Allocation Term Trust (ECAT), reported two open-market sales of common stock. On April 30, 2026, it sold 123,739 shares at $14.80 per share. On May 1, 2026, it sold an additional 178,041 shares at $14.94 per share. Following these indirect transactions, Saba Capital Management’s reported holdings stood at 20,859,131 common shares of ECAT.

Insider Trade Summary

Net Seller: 301,780 shares ($4,491,270)

Net Sell 2 txns

Insider Saba Capital Management, L.P.

Role null

Sold 301,780 shs ($4.49M)

Type	Security	Shares	Price	Value
Sale	Common Stock	178,041	$14.94	$2.66M
Sale	Common Stock	123,739	$14.80	$1.83M

Holdings After Transaction: Common Stock — 20,859,131 shares (Indirect, -)

Footnotes (1)

Key Figures

Shares sold 2026-04-30: 123,739 shares Price per share 2026-04-30: $14.80/share Shares sold 2026-05-01: 178,041 shares +3 more

6 metrics

Shares sold 2026-04-30 123,739 shares Open-market sale of ECAT common stock at $14.80

Price per share 2026-04-30 $14.80/share Sale price for 123,739 ECAT common shares

Shares sold 2026-05-01 178,041 shares Open-market sale of ECAT common stock at $14.94

Price per share 2026-05-01 $14.94/share Sale price for 178,041 ECAT common shares

Total shares sold 301,780 shares Aggregate ECAT common shares sold across both transactions

Holdings after transactions 20,859,131 shares ECAT common shares indirectly held after May 1, 2026 sale

Key Terms

open-market sale, non-derivative, ten percent owner, indirect ownership

4 terms

open-market sale financial

"transaction_action": "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.

non-derivative financial

"transaction_type": "non-derivative""

ten percent owner regulatory

"is_ten_percent_owner": 1"

indirect ownership financial

"ownership_type": "indirect""

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)
04/30/2026

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	04/30/2026		S		123,739	D	$14.8	21,037,172	I	-
Common Stock	05/01/2026		S		178,041	D	$14.94	20,859,131	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	05/04/2026
	Boaz Weinstein	05/04/2026
	** 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 activity did Saba Capital Management report for ECAT?

Saba Capital Management reported selling ECAT common stock in two open-market transactions, totaling 301,780 shares. These sales occurred on April 30, 2026 and May 1, 2026, and are reported as indirect ownership changes.

How many ECAT shares did Saba Capital Management sell on May 1, 2026?

On May 1, 2026, Saba Capital Management sold 178,041 ECAT common shares at a reported price of $14.94 per share. This was an open-market sale reported as a non-derivative, indirect ownership transaction.

What were the ECAT share sales on April 30, 2026 by Saba Capital?

On April 30, 2026, Saba Capital Management sold 123,739 ECAT common shares in an open-market transaction at $14.80 per share. The transaction involved non-derivative common stock and was reported under indirect ownership.

How many ECAT shares does Saba Capital Management hold after these transactions?

After the reported sales, Saba Capital Management’s position is shown as 20,859,131 ECAT common shares. This figure reflects the total indirect holdings following the May 1, 2026 open-market transaction disclosed in the filing.

Are Saba Capital’s ECAT transactions open-market sales or derivative exercises?

The reported ECAT transactions are open-market sales of common stock, coded as “S” and classified as non-derivative. There are no option exercises or other derivative transactions disclosed in this Form 4’s derivative summary.

Is Saba Capital Management a ten percent owner of ECAT?

Yes. The filing identifies Saba Capital Management, L.P. as a ten percent owner of BlackRock ESG Capital Allocation Term Trust (ECAT). This status triggers Form 4 reporting obligations for changes in its beneficial ownership of ECAT shares.