FRA (FRA) portfolio manager Delbos reports phantom share award and $11.76 stock sale

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Rhea-AI Filing Summary

BlackRock Floating Rate Income Strategies Fund, Inc. (FRA) portfolio manager David Delbos reported multiple equity and phantom share transactions dated January 30, 2026. He acquired 15,980.2105 phantom shares, which are cash-settled units economically equivalent to common stock and vest in three annual installments.

On the same date, 6,827.8657 phantom shares were exercised into 6,827.8657 common shares, increasing his directly held common stock to 38,175.9447 shares before a sale. He then sold 6,827.8657 common shares at a price of $11.76 per share, leaving 31,348.079 common shares directly owned and 13,655.7314 phantom shares outstanding after the reported transactions.

Insider Trade Summary

6,827.8657 shares exercised/converted

Exercise 4 txns

Insider Delbos David

Role Insider

Type	Security	Shares	Price	Value
Grant/Award	Phantom Shares	15,980.2105	$11.76	$188K
Exercise	Phantom Shares	6,827.8657	$0.00	$0.00
Exercise	Common Stock	6,827.8657	$0.00	$0.00
Disposition	Common Stock	6,827.8657	$11.76	$80K

Holdings After Transaction: Phantom Shares — 29,635.9419 shares (Direct); Common Stock — 31,348.079 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 - 05:53 PM

FAQ

What insider activity did FRA portfolio manager David Delbos report on January 30, 2026?

David Delbos reported acquiring 15,980.2105 phantom shares and exercising 6,827.8657 phantom shares into common stock, then selling 6,827.8657 common shares at $11.76 per share. These transactions adjusted both his common stock and phantom share holdings with the fund.

How many FRA common shares does David Delbos own after these Form 4 transactions?

After the reported trades, David Delbos directly owns 31,348.079 FRA common shares. This reflects exercising 6,827.8657 phantom shares into stock, then selling the same number of common shares at $11.76 per share, as disclosed in the non-derivative securities table.

What are FRA phantom shares reported by David Delbos and how do they work?

The filing states a phantom share is the economic equivalent of one FRA common share and becomes payable in cash, subject to vesting. Delbos’ awards vest in equal installments on each of the first three anniversaries of the grant or award dates, rather than settling in actual stock.

How many FRA phantom shares does David Delbos hold following the January 30, 2026 transactions?

Following the reported derivative transactions, David Delbos holds 13,655.7314 FRA phantom shares. This reflects an award of 15,980.2105 phantom shares and the exercise of 6,827.8657 phantom shares into common stock, according to the derivative securities table.

At what price did David Delbos sell FRA common shares in this Form 4 filing?

The Form 4 shows David Delbos sold 6,827.8657 FRA common shares at a price of $11.76 per share. The sale followed his exercise of an equal number of phantom shares into common stock on the same transaction date, January 30, 2026.

What vesting schedule applies to the FRA phantom shares held by David Delbos?

According to the footnotes, phantom shares granted to David Delbos vest in equal installments on each of the first three anniversaries of the grant or award date. Once vested, each phantom share is payable in cash and is economically equivalent to one FRA common share.

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^*

Delbos David

(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		6,827.8657	A	⁽¹⁾⁽²⁾	38,175.9447	D
Common Stock	01/30/2026		D		6,827.8657	D	$11.76⁽¹⁾⁽²⁾	31,348.079	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		15,980.2105		⁽¹⁾⁽³⁾	⁽¹⁾⁽³⁾	Common Stock	15,980.2105	$11.76	15,980.2105	D
Phantom Shares	⁽¹⁾⁽²⁾	01/30/2026		M			6,827.8657	⁽¹⁾⁽²⁾	⁽¹⁾⁽²⁾	Common Stock	6,827.8657	⁽¹⁾⁽²⁾	13,655.7314	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