How do the FRA phantom share awards to Carly Wilson vest and pay out?

The filing notes that phantom shares vest in equal installments on each of the first three anniversaries of the award date. Once vested, these phantom shares become payable in cash rather than delivering actual FRA common stock.

Portfolio manager at BlackRock (NYSE: FRA) logs cash phantom share award

Filing Impact

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Filing Sentiment

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Form Type

Rhea-AI Filing Summary

Carly Wilson, a portfolio manager of BlackRock Floating Rate Income Strategies Fund, Inc., reported compensation-related and offsetting share transactions. On January 30, 2026, Wilson acquired 2,889.0306 phantom shares at $11.76 per share. Each phantom share is economically equivalent to one common share but, after vesting, is settled in cash rather than stock.

That same day, 865.8913 phantom shares were exercised into 865.8913 common shares at a conversion price of $0.00, and those common shares were then disposed of at $11.76 per share, leaving 0 common shares directly owned and 1,731.7826 phantom shares outstanding. The phantom awards vest in three equal annual installments.

Insider Trade Summary

865.8913 shares exercised/converted

Exercise 4 txns

Insider Wilson Carly

Role Insider

Type	Security	Shares	Price	Value
Grant/Award	Phantom Shares	2,889.0306	$11.76	$34K
Exercise	Phantom Shares	865.8913	$0.00	$0.00
Exercise	Common Stock	865.8913	$0.00	$0.00
Disposition	Common Stock	865.8913	$11.76	$10K

Holdings After Transaction: Phantom Shares — 4,620.8132 shares (Direct); Common Stock — 0 shares (Direct)

Footnotes (3)

F1. A phantom share is the economic equivalent of one share of common stock and, subject to the applicable vesting requirements, becomes payable in cash.
F2. As previously reported on a Form 4 dated February 4, 2025, the Reporting Person was granted phantom shares on January 31, 2025 payable in cash on vesting, which occurs in equal installments on each of the first three anniversaries of the grant date.
F3. These phantom shares vest in equal installments on each of the first three anniversaries of the award.

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Form 4 Insider Transactions: What Each Field Means →

Accepted by SEC EDGAR 02/03/2026 - 05:54 PM

FAQ

What insider transactions did Carly Wilson report for FRA on January 30, 2026?

Carly Wilson reported receiving 2,889.0306 phantom shares and exercising 865.8913 phantom shares into 865.8913 common shares, which were then sold at $11.76 per share, leaving no directly owned common shares and 1,731.7826 phantom shares.

What are phantom shares in the Carly Wilson FRA Form 4 filing?

In this filing, phantom shares are stated to be the economic equivalent of one FRA common share and, after meeting vesting requirements, are payable in cash. They function as cash-settled incentive units rather than actual stock ownership.

How many FRA phantom shares did Carly Wilson hold after the reported transactions?

After the January 30, 2026 transactions, Carly Wilson beneficially owned 1,731.7826 phantom shares. This reflects new phantom shares awarded and phantom shares converted into common stock and then disposed, as detailed in the derivative securities table.

Did Carly Wilson sell any FRA common stock in this Form 4?

Yes. The Form 4 shows disposal of 865.8913 FRA common shares at a price of $11.76 per share on January 30, 2026. These shares came from the exercise of an equal number of phantom shares at a $0.00 conversion price.

What is Carly Wilson’s role at BlackRock Floating Rate Income Strategies Fund, Inc. (FRA)?

Carly Wilson is identified in the Form 4 as a portfolio manager of BlackRock Floating Rate Income Strategies Fund, Inc. This role is checked under “Other” in the relationship section, rather than as a director, officer, or 10% owner.

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^*

Wilson Carly

(Last)

(First)

(Middle)

50 HUDSON YARDS

(Street)

NEW YORK

10001

(City)

(State)

(Zip)

2. Issuer Name and Ticker or Trading Symbol
BLACKROCK FLOATING RATE INCOME STRATEGIES FUND, INC. [ FRA ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

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

3. Date of Earliest Transaction (Month/Day/Year)
01/30/2026

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)
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	01/30/2026		M		865.8913	A	⁽¹⁾⁽²⁾	865.8913	D
Common Stock	01/30/2026		D		865.8913	D	$11.76⁽¹⁾⁽²⁾	0.0000	D

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)
Phantom Shares	⁽¹⁾⁽³⁾	01/30/2026		A		2,889.0306		⁽¹⁾⁽³⁾	⁽¹⁾⁽³⁾	Common Stock	2,889.0306	$11.76	2,889.0306	D
Phantom Shares	⁽¹⁾⁽²⁾	01/30/2026		M			865.8913	⁽¹⁾⁽²⁾	⁽¹⁾⁽²⁾	Common Stock	865.8913	⁽¹⁾⁽²⁾	1,731.7826	D

Explanation of Responses:

1. A phantom share is the economic equivalent of one share of common stock and, subject to the applicable vesting requirements, becomes payable in cash.

2. As previously reported on a Form 4 dated February 4, 2025, the Reporting Person was granted phantom shares on January 31, 2025 payable in cash on vesting, which occurs in equal installments on each of the first three anniversaries of the grant date.

3. These phantom shares vest in equal installments on each of the first three anniversaries of the award.

	/s/ Gladys Chang as Attorney-in-Fact	02/03/2026
	** 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.

Source: View Original Filing on SEC EDGAR