TCPC (BlackRock TCP Capital) President Mehring reports share sale and new phantom awards

Rhea-AI Filing Summary

BlackRock TCP Capital Corp. President Jason Mehring reported multiple equity-related transactions involving common stock and phantom shares. On January 30, 2026, he exercised 5,597.69 common shares through a transaction coded "M" and then disposed of the same 5,597.69 common shares at $5.18 per share.

Following these moves, he directly held 22,708.3537 common shares. Mehring also reported activity in deferred compensation-linked phantom shares, which are economically equivalent to common stock but payable in cash upon vesting under the company’s Involuntary Deferred Compensation Plan and related awards.

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

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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^*

Mehring Jason

(Last) (First) (Middle)

2951 28TH STREET, SUITE 1000

(Street)

SANTA MONICA CA 90405

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
BlackRock TCP Capital Corp. [ TCPC ]

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

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

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)
			Code	V	Amount	(A) or (D)	Price
Common Stock	01/30/2026		M		5,597.69	A	(2)(3)(4)	28,306.0437(1)	D
Common Stock	01/30/2026		D		5,597.69	D	$5.18(2)(3)(4)	22,708.3537(1)	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)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Phantom Shares	(2)(3)	01/30/2026		M			4,148.01	(2)(3)	(2)(3)	Common Stock	4,148.01	(2)(3)	4,148.01	D
Phantom Shares	(2)(4)	01/30/2026		M			1,449.68	(2)(4)	(2)(4)	Common Stock	1,449.68	(2)(4)	2,899.35	D
Phantom Shares	(2)(5)	01/30/2026		A		2,702.7		(2)(5)	(2)(5)	Common Stock	2,702.7	$5.18	2,702.7	D

Explanation of Responses:

1. Amount of securities beneficially owned includes shares acquired by the Reporting Person pursuant to the Issuer's dividend reinvestment plan.

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

3. The Reporting Person was granted phantom shares on January 31, 2024 payable in cash upon vesting pursuant to the Issuer's Involuntary Deferred Compensation Plan, which occurs in equal installments on each of the first three anniversaries of the grant date.

4. The Reporting Person was granted phantom shares on January 31, 2025 payable in cash upon vesting pursuant to the Issuer's Involuntary Deferred Compensation Plan, which occurs in equal installments on each of the first three anniversaries of the grant date.

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

	/s/ Diana Huffman, 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.
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FAQ

What insider activity did TCPC President Jason Mehring report on January 30, 2026?

Jason Mehring reported exercising 5,597.69 BlackRock TCP Capital common shares and then selling 5,597.69 shares at $5.18 each. He also reported related movements in phantom shares tied to the company’s deferred compensation plans and equity-based awards.

How many TCPC common shares did Jason Mehring sell and at what price?

Jason Mehring disposed of 5,597.69 BlackRock TCP Capital common shares at a price of $5.18 per share. The transaction was coded “D” on the Form 4, indicating a sale or disposition of non-derivative securities held directly.

How many BlackRock TCP Capital common shares does Jason Mehring hold after these transactions?

After the reported transactions, Jason Mehring directly held 22,708.3537 BlackRock TCP Capital common shares. This figure includes shares previously acquired, with footnote disclosure that beneficial ownership also reflects shares from the issuer’s dividend reinvestment plan.

What phantom share transactions did Jason Mehring report for TCPC?

Mehring reported multiple phantom share transactions, including 4,148.01 and 1,449.68 phantom shares coded “M,” and an additional 2,702.7 phantom shares coded “A.” Phantom shares are economically equivalent to one common share but are payable in cash upon vesting, subject to plan terms.

How do TCPC phantom shares work according to this Form 4 filing?

The filing states each phantom share is economically equivalent to one BlackRock TCP Capital common share and becomes payable in cash upon vesting. Vesting generally occurs in equal installments on each of the first three anniversaries of the applicable grant or award date.

What plans govern Jason Mehring’s phantom share grants at BlackRock TCP Capital?

Some phantom shares were granted under BlackRock TCP Capital’s Involuntary Deferred Compensation Plan. The filing explains that phantom share grants made on January 31, 2024 and January 31, 2025 vest in three equal annual installments from the grant date and are settled in cash.