COO Patrick Wolfe of BlackRock TCP Capital (TCPC) logs stock sale and new phantom-share grant

Rhea-AI Filing Summary

BlackRock TCP Capital Corp. Chief Operating Officer Patrick Wolfe reported derivative awards and a stock sale. On January 30, 2026, he converted 6,136.39 phantom-share equivalents into common stock and disposed of the same 6,136.39 common shares at $5.18 per share, leaving 9,235.981 common shares directly owned.

He also reported activity in cash-settled phantom shares, which are economically equivalent to common stock. After the transactions, Wolfe directly held 2,392.85, 7,487.09, and 2,779.92 phantom shares in three separate awards that vest in equal installments over three years under the company’s deferred compensation arrangements.

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^*

Wolfe Patrick

(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)
	Chief Operating Officer

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		6,136.39	A	(2)(3)(4)	15,372.371(1)	D
Common Stock	01/30/2026		D		6,136.39	D	$5.18(2)(3)(4)	9,235.981(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			2,392.85	(2)(3)	(2)(3)	Common Stock	2,392.85	(2)(3)	2,392.85	D
Phantom Shares	(2)(4)	01/30/2026		M			3,743.54	(2)(4)	(2)(4)	Common Stock	3,743.54	(2)(4)	7,487.09	D
Phantom Shares	(2)(5)	01/30/2026		A		2,779.92		(2)(5)	(2)(5)	Common Stock	2,779.92	$5.18	2,779.92	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.
* 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.

FAQ

What insider transactions did TCPC COO Patrick Wolfe report on January 30, 2026?

Patrick Wolfe reported converting 6,136.39 phantom-share equivalents into common stock and selling 6,136.39 common shares at $5.18. He also updated holdings in several phantom-share awards that vest over three years under BlackRock TCP Capital Corp.’s deferred compensation plans.

How many TCPC common shares does Patrick Wolfe hold after these Form 4 transactions?

After the reported transactions, Patrick Wolfe directly owns 9,235.981 shares of BlackRock TCP Capital Corp. common stock. This figure includes shares accumulated through the issuer’s dividend reinvestment plan, as noted in the filing’s explanatory footnotes.

What are phantom shares in the TCPC Form 4 filed by Patrick Wolfe?

Phantom shares are instruments economically equivalent to one share of common stock but payable in cash, not stock. In this filing, Wolfe’s phantom shares are subject to vesting and are granted under BlackRock TCP Capital Corp.’s involuntary deferred compensation and related award arrangements.

What new phantom-share award did Patrick Wolfe receive from BlackRock TCP Capital Corp.?

On January 30, 2026, Patrick Wolfe was credited with 2,779.92 phantom shares at a reference price of $5.18. These phantom shares vest in equal installments on each of the first three anniversaries of the award date and are payable in cash upon vesting.

How do Patrick Wolfe’s phantom-share grants at TCPC vest over time?

The phantom shares granted to Patrick Wolfe vest in equal installments over three years. Awards tied to January 31, 2024 and January 31, 2025 vest annually on each of the first three anniversaries of their grant dates, according to BlackRock TCP Capital Corp.’s deferred compensation plan.

Does Patrick Wolfe’s TCPC Form 4 mention the dividend reinvestment plan?

Yes. The filing notes that his beneficially owned common shares include amounts acquired through BlackRock TCP Capital Corp.’s dividend reinvestment plan, indicating that some holdings result from automatic reinvestment of cash dividends into additional common stock.