How do the HYT phantom share grants for 2024 and 2025 vest?

The January 31, 2024 and January 31, 2025 phantom share grants vest in cash in three equal installments. Vesting occurs on each of the first three anniversaries of the respective grant dates, providing cash-based compensation tied to HYT’s common share value.

HYT (HYT) portfolio manager logs sale of 60.8K shares and phantom unit exercises

Filing Impact

(Neutral)

Filing Sentiment

(Neutral)

Form Type

Rhea-AI Filing Summary

BlackRock Corporate High Yield Fund, Inc. portfolio manager David Delbos reported equity and cash-based compensation activity in the fund’s shares. On January 30, 2026, he converted phantom share awards into common stock and then sold the same number of common shares.

He acquired 60,834.902 shares of common stock through a transaction coded “M” and immediately disposed of 60,834.902 common shares at $8.86 per share in a transaction coded “D.” After these transactions, he directly held 105,510.5543 shares of common stock.

Delbos also exercised phantom share units that are settled in cash. One grant converted 36,260.2429 phantom shares into an equivalent economic interest in common stock, leaving 72,520.4858 phantom shares from that grant. A second grant converted 24,574.6591 phantom shares, with 24,574.6591 phantom shares remaining from that award. Each phantom share represents the economic value of one common share and pays out in cash as it vests over three years.

Insider Trade Summary

60,834.902 shares exercised/converted

Mixed 4 txns

Insider Delbos David

Role Insider

Type	Security	Shares	Price	Value
Exercise	Phantom Shares	36,260.243	$0.00	--
Exercise	Phantom Shares	24,574.659	$0.00	--
Exercise	Common Stock	60,834.902	$0.00	--
Disposition	Common Stock	60,834.902	$8.86	$539K

Holdings After Transaction: Phantom Shares — 72,520.486 shares (Direct); Common Stock — 166,345.456 shares (Direct)

Footnotes (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. 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. As previously reported on a Form 4 dated February 2, 2024, the Reporting Person was granted phantom shares on January 31, 2024 payable in cash on vesting, which occurs in equal installments on each of the first three anniversaries of the grant date.

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Form 4 Insider Transactions: What Each Field Means →

02/03/2026 - 05:42 PM

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 CORPORATE HIGH YIELD FUND, INC. [ HYT ]

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		60,834.902	A	⁽¹⁾⁽²⁾⁽³⁾	166,345.4563	D
Common Stock	01/30/2026		D		60,834.902	D	$8.86⁽¹⁾⁽²⁾⁽³⁾	105,510.5543	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⁾⁽²⁾	01/30/2026		M			36,260.2429	⁽¹⁾⁽²⁾	⁽¹⁾⁽²⁾	Common Stock	36,260.2429	⁽¹⁾⁽²⁾	72,520.4858	D
Phantom Shares	⁽¹⁾⁽³⁾	01/30/2026		M			24,574.6591	⁽¹⁾⁽³⁾	⁽¹⁾⁽³⁾	Common Stock	24,574.6591	⁽¹⁾⁽³⁾	24,574.6591	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. As previously reported on a Form 4 dated February 2, 2024, the Reporting Person was granted phantom shares on January 31, 2024 payable in cash on vesting, which occurs in equal installments on each of the first three anniversaries of the grant date.

	/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

FAQ

What insider activity did HYT portfolio manager David Delbos report?

David Delbos reported converting phantom share awards into common stock and selling common shares. On January 30, 2026, he acquired 60,834.902 common shares via a code “M” transaction, then sold 60,834.902 shares at $8.86 each in a code “D” transaction.

How many HYT common shares does David Delbos own after this Form 4?

After the reported transactions, David Delbos directly owns 105,510.5543 HYT common shares. This figure reflects his holdings following the exercise of phantom share awards into stock and the subsequent sale of 60,834.902 common shares on January 30, 2026.

What are phantom shares in the HYT Form 4 for David Delbos?

Phantom shares are compensation units economically equivalent to one HYT common share but paid in cash. They track the share value, are subject to vesting conditions, and become payable in cash over time instead of delivering actual fund shares.

How many HYT phantom shares are reported as held after the transactions?

After the January 30, 2026 activity, one phantom share grant shows 72,520.4858 units remaining and another shows 24,574.6591 units. Each phantom share represents the economic value of one HYT common share and will be paid in cash upon vesting.

At what price did David Delbos sell HYT common shares on January 30, 2026?

He sold 60,834.902 HYT common shares at a price of $8.86 per share. This disposal followed a matching acquisition of 60,834.902 shares through a transaction coded “M,” which typically represents an exercise or conversion of an award.