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). |
1. Name and Address of Reporting Person*
(Street)
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2. Issuer Name and Ticker or Trading Symbol
BlackRock Multi-Sector Opportunities Trust [ NA ] |
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
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3. Date of Earliest Transaction
(Month/Day/Year) 02/22/2024 | ||||||||||||||||||||||||||
4. If Amendment, Date of Original Filed
(Month/Day/Year) |
6. Individual or Joint/Group Filing (Check Applicable Line)
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Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned | ||||||||||
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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 |
Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities) | |||||||||||||||
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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) | 02/22/2024(1) | J(4) | 71.6947(3)(4) | (2)(3) | (2)(3) | Common Stock | 71.6947(3)(4) | (4) | 0 | D |
Explanation of Responses: |
1. The transaction reported on this Form 4 was completed in connection with the liquidation of the issuer pursuant to a Plan of Liquidation adopted on November 15, 2023. |
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. Phantom shares vest in equal installments on each of the first three anniversaries of the award. As previously reported on a Form 4 dated February 2, 2022, the Reporting Person was granted 180.2317 phantom shares of the issuer on January 31, 2022 payable in cash on vesting. As of February 22, 2024, the Reporting Person held 71.6947 phantom shares of the issuer, which were comprised of 71.6947 phantom shares granted on January 31, 2022 (with one annual vesting installment remaining), as reported on the Form 4 dated February 2, 2022. The annual vesting schedule applicable to the Reporting Person's phantom shares of the issuer was preserved with respect to the phantom shares of BlackRock Strategic Income Opportunities Fund that the Reporting Person received in the connection with the liquidation of the issuer (as detailed below). |
4. In connection with the liquidation of the issuer detailed above, the Reporting Person received phantom shares of BlackRock Strategic Income Opportunities Fund having a value equal to the aggregate net asset value ("NAV") of the phantom shares of the issuer the Reporting Person held on February 22, 2024, calculated using a conversion ratio equal to the NAV per share of the issuer relative to the NAV per Investor K share of BlackRock Strategic Income Opportunities Fund as of February 22, 2024. As of February 22, 2024, the issuer reported a NAV per share of $65.61 and BlackRock Strategic Income Opportunities Fund reported a NAV per Investor K share of $9.34. The conversion ratio for the issuer's phantom shares was 7.02. In connection with the liquidation of the issuer, the Reporting Person received 503.629 phantom shares of BlackRock Strategic Income Opportunities Fund in exchange for the Reporting Person's 71.6947 phantom shares of the issuer. |
/s/ Gladys Chang as Attorney-in-Fact | 02/26/2024 | |
** 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. |