# EDGAR Filing Document

**Accession Number:** 0001562818
**File Stem:** 0001438934-25-002277
**Filing Date:** 2025-8
**Character Count:** 24236
**Document Hash:** e6d7045eb4ee2cbfb288bdc874cd9c76
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001438934-25-002277.hdr.sgml**: 20250828

**ACCESSION NUMBER**: 0001438934-25-002277

**CONFORMED SUBMISSION TYPE**: N-PX

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250630

**FILED AS OF DATE**: 20250828

**DATE AS OF CHANGE**: 20250828

**EFFECTIVENESS DATE**: 20250828

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** BlackRock Multi-Sector Income Trust
- **CENTRAL INDEX KEY:** 0001562818

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** N-PX
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-22774
- **FILM NUMBER:** 251267475

**BUSINESS ADDRESS:**
- **STREET 1:** 100 BELLEVUE PARKWAY
- **CITY:** WILMINGTON
- **STATE:** DE
- **ZIP:** 19809-3700
- **BUSINESS PHONE:** 800-882-0052

**MAIL ADDRESS:**
- **STREET 1:** 100 BELLEVUE PARKWAY
- **CITY:** WILMINGTON
- **STATE:** DE
- **ZIP:** 19809-3700

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** BlackRock Fixed Income Strategic Opportunities
- **DATE OF NAME CHANGE:** 20121126

## FORM N-PX
### ANNUAL REPORT OF PROXY VOTING RECORD

## N-PX: Filer Information

**Filer CIK:** 0001562818

**Date of Report:** 06/30/2025

**Are you a Registered Management Investment Company or an Institutional Manager?:** Registered Management Investment Company

**Is this a LIVE or TEST Filing?:** LIVE

**Is this an electronic copy of an official filing submitted in paper format?:** [ ]

### Submission Contact Information
_Not provided in this filing._

### Notification Information
**Notify via Filing Website only?:** [ ]

## N-PX: Cover Page

**Name of reporting person:** BlackRock Multi-Sector Income Trust

**Address:** 100 Bellevue Parkway, Wilmington, DE 19809

**Telephone number:** 800-882-0052

**Name of agent for service:** John Perlowski

**Agent Address:** 50 Hudson Yards, New York, NY 10001

**Reporting Period:** Report for the year ended 06/30/2025

**SEC File Number:** 811-22774

**CRD Number (if any):** —

**Other SEC File Number (if any):** —

**LEI (if any):** —

**Report Type (check only one):**

Institutional Manager.

- [ ] Institutional Manager Voting Report

- [ ] Institutional Manager Notice Report

- [ ] Institutional Manager Combination Report

Registered Management Investment Company.

- [x] Fund Voting Report

- [ ] Fund Notice Report

**Do you wish to provide explanatory information pursuant to Special Instruction B.4?:**

- [x] No

- [ ] Yes

**Additional information:** —

## N-PX: Summary - Included Managers

**Number of Included Institutional Managers:** 1

**Included Institutional Managers:** —

## FORM N-PX PROXY VOTING RECORD

| NAME OF ISSUER           | CUSIP     | MEETING DATE   | VOTE DESCRIPTION                                                                                                                                                                                                                                                                                                                                                                                             | VOTE CATEGORY                |   SHARES VOTED |   SHARES ON LOAN | HOW VOTED   | SHARES VOTED FOR OR AGAINST MANAGEMENT   | FOR OR AGAINST MANAGEMENT   | OTHER INFO   |
|:---|:---|:---|:---|:---|---:|---:|:---|:---|:---|:---|
| ADLER GROUP S.A.         | L0112A133 | 11/27/2024     | VOTING MUST BE LODGED WITH SHAREHOLDER DETAILS AS PROVIDED BY YOUR CUSTODIAN BANK. IF NO SHAREHOLDER DETAILS ARE PROVIDED, YOUR INSTRUCTIONS MAY BE REJECTED.                                                                                                                                                                                                                                                | CORPORATE GOVERNANCE         |          33367 |                0 |  |  |  |  |
| ADLER GROUP S.A.         | L0112A133 | 11/27/2024     | RECEIVE SPECIAL BOARD'S REPORT                                                                                                                                                                                                                                                                                                                                                                               | CORPORATE GOVERNANCE         |          33367 |                0 |  |  |  |  |
| ADLER GROUP S.A.         | L0112A133 | 11/27/2024     | RECEIVE MANAGEMENT BOARD REPORT FOR THE FINANCIAL YEAR ENDING 31 DECEMBER 2022                                                                                                                                                                                                                                                                                                                               | CORPORATE GOVERNANCE         |          33367 |                0 |  |  |  |  |
| ADLER GROUP S.A.         | L0112A133 | 11/27/2024     | APPROVE AUDITED STANDALONE FINANCIAL STATEMENTS FOR THE FINANCIAL YEAR ENDING 31 DECEMBER 2022                                                                                                                                                                                                                                                                                                               | CORPORATE GOVERNANCE         |          33367 |                0 | FOR         | 33367                                    | FOR                         |  |
| ADLER GROUP S.A.         | L0112A133 | 11/27/2024     | APPROVE AUDITED CONSOLIDATED FINANCIAL STATEMENTS FOR THE FINANCIAL YEAR ENDING 31 DECEMBER 2022                                                                                                                                                                                                                                                                                                             | CORPORATE GOVERNANCE         |          33367 |                0 | FOR         | 33367                                    | FOR                         |  |
| ADLER GROUP S.A.         | L0112A133 | 11/27/2024     | APPROVE ALLOCATION OF LOSS FOR THE FINANCIAL YEAR ENDING 31 DECEMBER 2022                                                                                                                                                                                                                                                                                                                                    | CAPITAL STRUCTURE            |          33367 |                0 | FOR         | 33367                                    | FOR                         |  |
| ADLER GROUP S.A.         | L0112A133 | 11/27/2024     | RECEIVE MANAGEMENT BOARD REPORT FOR THE FINANCIAL YEAR ENDING 31 DECEMBER 2023                                                                                                                                                                                                                                                                                                                               | CORPORATE GOVERNANCE         |          33367 |                0 |  |  |  |  |
| ADLER GROUP S.A.         | L0112A133 | 11/27/2024     | APPROVE AUDITED STANDALONE FINANCIAL STATEMENTS FOR THE FINANCIAL YEAR ENDING 31 DECEMBER 2023                                                                                                                                                                                                                                                                                                               | CORPORATE GOVERNANCE         |          33367 |                0 | FOR         | 33367                                    | FOR                         |  |
| ADLER GROUP S.A.         | L0112A133 | 11/27/2024     | APPROVE AUDITED CONSOLIDATED FINANCIAL STATEMENTS FOR THE FINANCIAL YEAR ENDING 31 DECEMBER 2023                                                                                                                                                                                                                                                                                                             | CORPORATE GOVERNANCE         |          33367 |                0 | FOR         | 33367                                    | FOR                         |  |
| ADLER GROUP S.A.         | L0112A133 | 11/27/2024     | APPROVE ALLOCATION OF LOSS FOR THE FINANCIAL YEAR ENDING 31 DECEMBER 2023                                                                                                                                                                                                                                                                                                                                    | CAPITAL STRUCTURE            |          33367 |                0 | FOR         | 33367                                    | FOR                         |  |
| ADLER GROUP S.A.         | L0112A133 | 11/27/2024     | APPROVE DISCHARGE OF DIRECTORS FOR THE FINANCIAL YEAR ENDING 31 DECEMBER 2022                                                                                                                                                                                                                                                                                                                                | DIRECTOR ELECTIONS           |          33367 |                0 | FOR         | 33367                                    | FOR                         |  |
| ADLER GROUP S.A.         | L0112A133 | 11/27/2024     | APPROVE CONFIRMATION OF DISCHARGE OF DIRECTORS FOR THE FINANCIAL YEAR ENDING 31 DECEMBER 2023                                                                                                                                                                                                                                                                                                                | DIRECTOR ELECTIONS           |          33367 |                0 | AGAINST     | 33367                                    | AGAINST                     |  |
| ADLER GROUP S.A.         | L0112A133 | 11/27/2024     | APPOINT AVEGA REVISION S.A R.L. AS AUDITOR                                                                                                                                                                                                                                                                                                                                                                   | AUDIT-RELATED                |          33367 |                0 | FOR         | 33367                                    | FOR                         |  |
| ADLER GROUP S.A.         | L0112A133 | 11/27/2024     | ELECT THORSTEN ARSAN AS DIRECTOR                                                                                                                                                                                                                                                                                                                                                                             | DIRECTOR ELECTIONS           |          33367 |                0 | FOR         | 33367                                    | FOR                         |  |
| ADLER GROUP S.A.         | L0112A133 | 11/27/2024     | ELECT PAUL COPLEY AS DIRECTOR                                                                                                                                                                                                                                                                                                                                                                                | DIRECTOR ELECTIONS           |          33367 |                0 | AGAINST     | 33367                                    | AGAINST                     |  |
| ADLER GROUP S.A.         | L0112A133 | 11/27/2024     | APPROVE REMUNERATION OF DIRECTORS                                                                                                                                                                                                                                                                                                                                                                            | COMPENSATION                 |          33367 |                0 | FOR         | 33367                                    | FOR                         |  |
| ADLER GROUP S.A.         | L0112A133 | 11/27/2024     | APPROVE REMUNERATION POLICY                                                                                                                                                                                                                                                                                                                                                                                  | SECTION 14A SAY-ON-PAY VOTES |          33367 |                0 | AGAINST     | 33367                                    | AGAINST                     |  |
| ADLER GROUP S.A.         | L0112A133 | 11/27/2024     | APPROVE REMUNERATION REPORT                                                                                                                                                                                                                                                                                                                                                                                  | SECTION 14A SAY-ON-PAY VOTES |          33367 |                0 | AGAINST     | 33367                                    | AGAINST                     |  |
| ADLER GROUP S.A.         | L0112A133 | 11/27/2024     | INTERMEDIARY CLIENTS ONLY - PLEASE NOTE THAT IF YOU ARE CLASSIFIED AS AN INTERMEDIARY CLIENT UNDER THE SHAREHOLDER RIGHTS DIRECTIVE II, YOU SHOULD BE PROVIDING THE UNDERLYING SHAREHOLDER INFORMATION AT THE VOTE INSTRUCTION LEVEL. IF YOU ARE UNSURE ON HOW TO PROVIDE THIS LEVEL OF DATA TO BROADRIDGE OUTSIDE OF PROXYEDGE, PLEASE SPEAK TO YOUR DEDICATED CLIENT SERVICE REPRESENTATIVE FOR ASSISTANCE | CORPORATE GOVERNANCE         |          33367 |                0 |  |  |  |  |
| ADLER GROUP S.A.         | L0112A133 | 06/25/2025     | VOTING MUST BE LODGED WITH SHAREHOLDER DETAILS AS PROVIDED BY YOUR CUSTODIAN BANK. IF NO SHAREHOLDER DETAILS ARE PROVIDED, YOUR INSTRUCTIONS MAY BE REJECTED.                                                                                                                                                                                                                                                | CORPORATE GOVERNANCE         |          33367 |                0 |  |  |  |  |
| ADLER GROUP S.A.         | L0112A133 | 06/25/2025     | INTERMEDIARY CLIENTS ONLY - PLEASE NOTE THAT IF YOU ARE CLASSIFIED AS AN INTERMEDIARY CLIENT UNDER THE SHAREHOLDER RIGHTS DIRECTIVE II, YOU SHOULD BE PROVIDING THE UNDERLYING SHAREHOLDER INFORMATION AT THE VOTE INSTRUCTION LEVEL. IF YOU ARE UNSURE ON HOW TO PROVIDE THIS LEVEL OF DATA TO BROADRIDGE OUTSIDE OF PROXYEDGE, PLEASE SPEAK TO YOUR DEDICATED CLIENT SERVICE REPRESENTATIVE FOR ASSISTANCE | CORPORATE GOVERNANCE         |          33367 |                0 |  |  |  |  |
| ADLER GROUP S.A.         | L0112A133 | 06/25/2025     | RECEIVE SPECIAL BOARD'S REPORT                                                                                                                                                                                                                                                                                                                                                                               | CORPORATE GOVERNANCE         |          33367 |                0 |  |  |  |  |
| ADLER GROUP S.A.         | L0112A133 | 06/25/2025     | RECEIVE MANAGEMENT BOARD AND AUDITOR'S REPORT                                                                                                                                                                                                                                                                                                                                                                | CORPORATE GOVERNANCE         |          33367 |                0 |  |  |  |  |
| ADLER GROUP S.A.         | L0112A133 | 06/25/2025     | APPROVE STANDALONE FINANCIAL STATEMENTS                                                                                                                                                                                                                                                                                                                                                                      | CORPORATE GOVERNANCE         |          33367 |                0 | FOR         | 33367                                    | FOR                         |  |
| ADLER GROUP S.A.         | L0112A133 | 06/25/2025     | APPROVE CONSOLIDATED FINANCIAL STATEMENTS                                                                                                                                                                                                                                                                                                                                                                    | CORPORATE GOVERNANCE         |          33367 |                0 | FOR         | 33367                                    | FOR                         |  |
| ADLER GROUP S.A.         | L0112A133 | 06/25/2025     | APPROVE ALLOCATION OF LOSS                                                                                                                                                                                                                                                                                                                                                                                   | CAPITAL STRUCTURE            |          33367 |                0 | FOR         | 33367                                    | FOR                         |  |
| ADLER GROUP S.A.         | L0112A133 | 06/25/2025     | APPROVE DISCHARGE OF DIRECTORS                                                                                                                                                                                                                                                                                                                                                                               | DIRECTOR ELECTIONS           |          33367 |                0 | FOR         | 33367                                    | FOR                         |  |
| ADLER GROUP S.A.         | L0112A133 | 06/25/2025     | APPOINT AVEGA REVISION S.A R.L. AS AUDITOR                                                                                                                                                                                                                                                                                                                                                                   | AUDIT-RELATED                |          33367 |                0 | FOR         | 33367                                    | FOR                         |  |
| ADLER GROUP S.A.         | L0112A133 | 06/25/2025     | REELECT THILO SCHMID AS DIRECTOR                                                                                                                                                                                                                                                                                                                                                                             | DIRECTOR ELECTIONS           |          33367 |                0 | AGAINST     | 33367                                    | AGAINST                     |  |
| ADLER GROUP S.A.         | L0112A133 | 06/25/2025     | ELECT KARL REINITZHUBER AS DIRECTOR                                                                                                                                                                                                                                                                                                                                                                          | DIRECTOR ELECTIONS           |          33367 |                0 | FOR         | 33367                                    | FOR                         |  |
| ADLER GROUP S.A.         | L0112A133 | 06/25/2025     | APPROVE ADDITIONAL REMUNERATION OF DIRECTORS                                                                                                                                                                                                                                                                                                                                                                 | COMPENSATION                 |          33367 |                0 | AGAINST     | 33367                                    | AGAINST                     |  |
| ADLER GROUP S.A.         | L0112A133 | 06/25/2025     | APPROVE REMUNERATION POLICY                                                                                                                                                                                                                                                                                                                                                                                  | SECTION 14A SAY-ON-PAY VOTES |          33367 |                0 | AGAINST     | 33367                                    | AGAINST                     |  |
| ADLER GROUP S.A.         | L0112A133 | 06/25/2025     | APPROVE REMUNERATION REPORT                                                                                                                                                                                                                                                                                                                                                                                  | SECTION 14A SAY-ON-PAY VOTES |          33367 |                0 | AGAINST     | 33367                                    | AGAINST                     |  |
| INTRUM AB                | W4998YEC6 | 12/16/2024     | PLEASE NOTE THAT THIS IS AN INFORMATION MEETING. THERE ARE CURRENTLY NO PUBLISHED AGENDA ITEMS, SHOULD YOU WISH TO ATTEND THE MEETING PERSONALLY, YOU MAY APPLY FOR AN ENTRANCE CARD BY CONTACTING YOUR CLIENT REPRESENTATIVE. THANK YOU                                                                                                                                                                     | CORPORATE GOVERNANCE         |              0 |                0 |  |  |  |  |
| KAIXO BONDCO TELECOM SAU | E6S823AA4 | 02/13/2025     | PLEASE NOTE THAT THIS IS AN INFORMATION MEETING. THERE ARE CURRENTLY NO PUBLISHED AGENDA ITEMS, SHOULD YOU WISH TO ATTEND THE MEETING PERSONALLY, YOU MAY APPLY FOR AN ENTRANCE CARD BY CONTACTING YOUR CLIENT REPRESENTATIVE. THANK YOU                                                                                                                                                                     | CORPORATE GOVERNANCE         |              0 |                0 |  |  |  |  |

## N-PX: Signature Block

**Reporting Person:** BlackRock Multi-Sector Income Trust

**By (Signature):** John Perlowski

**By (Printed Signature):** John Perlowski

**By (Title):** Chief Executive Officer

**Date:** 08/28/2025