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

Role: Chief Operating Officer
Signature: /s/ Laurence Paredes as Attorney-in-Fact
Issuer symbol: TCPC
Transactions as of: 18 Mar 2024
Net transactions value: $0
Form type: 4
Filing time: 20 Mar 2024, 18:41:17 UTC
Previous filing: 02 Feb 2024
SEC: View on sec.gov

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	TCPC	Common Stock	Award		+28,723			28,723	18 Mar 2024	Direct	F1, F2
transaction	TCPC	Common Stock	Award		+2,769			2,769	18 Mar 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		+2,923	+41%		9,995	18 Mar 2024	Common Stock	2,923		Direct	F1, F3, F4, F5
transaction	TCPC	Phantom Shares	Award		+6,853	+218%		9,995	18 Mar 2024	Common Stock	6,853		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.