David William Clayton - Jan 31, 2022 Form 4 Insider Report for BlackRock Capital Allocation Trust (BCAT)

Role: Portfolio Manager
Signature: /s/ Gladys Chang as Attorney-in-Fact
Stock symbol: BCAT
Transactions as of: Jan 31, 2022
Transactions value $: -$113,764
Form type: 4
Date filed: 2/2/2022, 08:40 PM
Previous filing: Sep 27, 2021
Next filing: Jul 1, 2022

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	BCAT	Common Stock	Options Exercise		+6.21K			6.21K	Jan 31, 2022	Direct	F1, F2
transaction	BCAT	Common Stock	Disposed to Issuer	-$114K	-6.21K	-100%	$18.33	0	Jan 31, 2022	Direct	F1, F2

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Underlying Class	Amount	Exercise Price	Ownership	Footnotes
transaction	BCAT	Phantom Shares	Options Exercise		-6.21K	-33.33%		12.4K	Jan 31, 2022	Common Stock	6.21K		Direct	F1, F2

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
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 2, 2021, the Reporting Person was granted phantom shares on January 29, 2021 payable in cash on vesting, which occurs in equal installments on each of the first three anniversaries of the grant date.