Nik Singhal - Mar 18, 2024 Form 4 Insider Report for BlackRock TCP Capital Corp. (TCPC)

Role
Chief Operating Officer
Signature
/s/ Laurence Paredes as Attorney-in-Fact
Stock symbol
TCPC
Transactions as of
Mar 18, 2024
Transactions value $
$0
Form type
4
Date filed
3/20/2024, 06:41 PM
Previous filing
Feb 2, 2024

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction TCPC Common Stock Award +28.7K 28.7K Mar 18, 2024 Direct F1, F2
transaction TCPC Common Stock Award +2.77K 2.77K Mar 18, 2024 By spouse 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 TCPC Phantom Shares Award +2.92K +41.33% 10K Mar 18, 2024 Common Stock 2.92K Direct F1, F3, F4, F5
transaction TCPC Phantom Shares Award +6.85K +218.13% 10K Mar 18, 2024 Common Stock 6.85K Direct F1, F3, F5, F6
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Reflects securities acquired pursuant to the terms of a certain Amended and Restated Agreement and Plan of Merger, dated as of January 10, 2024 ("Merger Agreement"), entered into by and among Blackrock TCP Capital Corp. ("TCPC"), BlackRock Capital Investment Corporation (the "BCIC"), BCIC Merger Sub, LLC, an indirect wholly-owned subsidiary of TCPC ("Merger Sub"), and, solely for limited purposes, BlackRock Capital Investment Advisors, LLC ("BCIA") and Tennenbaum Capital Partners, LLC, a wholly-owned subsidiary of BCIA. On March 18, 2024, in accordance with the Merger Agreement, BCIC merged with and into Merger Sub, with Merger Sub surviving as an indirect wholly-owned subsidiary of TCPC (the "Merger").
F2 Pursuant to the terms of the Merger Agreement, at the effective time of the Merger, each share of BCIC common stock (other than certain excluded shares) automatically converted into the right to receive 0.3834 validly issued, fully-paid and nonassessable shares of TCPC common stock.
F3 A phantom share is the economic equivalent of one share of common stock and, subject to the applicable vesting requirements, becomes payable in cash.
F4 These phantom shares are payable in cash on vesting, which occurs on January 31, 2025.
F5 In connection with the Merger, each BCIC phantom share converted into 0.3651 TCPC phantom shares on substantially the same terms and conditions applicable to such BCIC awards.
F6 These phantom shares are payable in cash on vesting, which occurs in three equal installments beginning on January 31, 2025.