Sec Form 4 Filing - Bisat Amer @ BlackRock Multi-Sector Opportunities Trust - 2024-02-22

FORM 4 Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

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, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940

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1. Name and Address of Reporting Person Bisat Amer 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) _____ Director _____ 10% Owner _____ Officer (give title below) X __ Other (specify below) Portfolio Manager (Last) (First) (Middle) 50 HUDSON YARDS 3. Date of Earliest Transaction (MM/DD/YY) 02/22/2024 (Street) NEW YORK, NY10001 4. If Amendment, Date Original Filed (MM/DD/YY) 6. Individual or Joint/Group Filing (Check Applicable Line) __ X __ Form filed by One Reporting Person _____ Form filed by More than One Reporting Person (City) (State) (Zip)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned 1.Title of Security (Instr. 3) 2. Transaction Date (MM/DD/YY) 2A. Deemed Execution Date, if any (MM/DD/YY) 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 02/22/2024( 1 ) J( 2 ) 8,000 D 0 ( 4 ) 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 (MM/DD/YY) 3A. Deemed Execution Date, if any (MM/DD/YY) 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 (MM/DD/YY) 7. Title and Amount of Underlying Securities (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 of Derivative Security: 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 ( 5 ) ( 6 ) 02/22/2024( 1 ) J( 7 ) 218.5326 ( 6 ) ( 7 ) ( 5 )( 6 ) ( 5 )( 6 ) Common Stock 218.5326 ( 6 ) ( 7 ) ( 7 ) 0 D

Reporting Owners Reporting Owner Name / Address Relationships Director 10% Owner Officer Other Bisat Amer 50 HUDSON YARDS NEW YORK, NY10001 Portfolio Manager Signatures /s/ Gladys Chang as Attorney-in-Fact 02/26/2024 Signature of Reporting Person Date

Explanation of Responses:

( 1 )The transactions reported on this Form 4 were completed in connection with the liquidation of the issuer pursuant to a Plan of Liquidation adopted on November 15, 2023. ( 2 )In accordance with the Plan of Liquidation for the issuer, on or about February 29, 2024, the issuer will distribute to common shareholders including the Reporting Person $64.7999 per share in a final cash liquidating distribution. In addition, for every common share of the issuer held, common shareholders including the Reporting Person will receive one equity interest in a liquidating trust with a fair value of $0.8121 per share of the issuer's common shares. The issuer's final cash liquidating distribution plus the equity interests in the liquidating trust represent substantially all of the issuer's net assets at the time of liquidation. ( 3 )In connection with the liquidation of the issuer detailed above, the Reporting Person will receive $64.7999 per common share of the issuer held by the Reporting Person on February 22, 2024. In addition, for every common share of the issuer held by the Reporting Person, the Reporting Person will receive one equity interest in a liquidating trust with a fair value of $0.8121 per share of the issuer's common shares. ( 4 )As a result of the liquidation of the issuer detailed above, the Reporting Person no longer owns shares of the issuer. ( 5 )A phantom share is the economic equivalent of one share of common stock and, subject to the applicable vesting requirements, becomes payable in cash. ( 6 )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 549.364 phantom shares of the issuer on January 31, 2022 payable in cash on vesting. As of February 22, 2024, the Reporting Person held 218.5326 phantom shares of the issuer, which were comprised of 218.5326 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 BSF Emerging Markets Flexi Dynamic Bond Fund that the Reporting Person received in the connection with the liquidation of the issuer (as detailed below). ( 7 )In connection with the liquidation of the issuer detailed above, the Reporting Person received phantom shares of BSF Emerging Markets Flexi Dynamic Bond 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 Class X2 (USD) share of BSF Emerging Markets Flexi Dynamic Bond Fund as of February 22, 2024. As of February 22, 2024, the issuer reported a NAV per share of $65.61 and BSF Emerging Markets Flexi Dynamic Bond Fund reported a NAV per Class X2 (USD) share of $141.14. The conversion ratio for the issuer's phantom shares was 0.46. In connection with the liquidation of the issuer, the Reporting Person received 101.587 phantom shares of BSF Emerging Markets Flexi Dynamic Bond Fund in exchange for the Reporting Person's 218.5326 phantom shares of the issuer.

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).

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