Form 4: KALINOSKI MICHAEL reports multiple insider transactions in BFK

Rhea-AI Filing Summary

KALINOSKI MICHAEL reported multiple insider transaction types in a Form 4 filing for BFK. The filing lists transactions totaling 5 shares.

SEC Form 4

FORM 4

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
or Section 30(h) of the Investment Company Act of 1940

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

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

KALINOSKI MICHAEL

(Last) (First) (Middle)

50 HUDSON YARDS

(Street)

NEW YORK NY 10001

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
BLACKROCK MUNICIPAL INCOME TRUST [ BFK ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
02/09/2026

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	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	02/09/2026		J(1)		5.1602	D	(1)	0	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 (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	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 (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (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: 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

Explanation of Responses:

1. Effective as of February 9, 2026 BlackRock Municipal Income Trust (the "Target Fund") was reorganized into BlackRock MuniHoldings Fund, Inc. (the "Acquiring Fund"). In the reorganization, common shareholders of the Target Fund received common shares of the Acquiring Fund having a value equal to the aggregate NAV of the Target Fund common shares surrendered as determined at the close of business on February 6, 2026, less the costs of the reorganization. As of February 6, 2026, the Target Fund reported a NAV per share of $10.8945 and the Acquiring Fund reported a NAV per share of $12.8419. The conversion ratio for the Target Fund's common shares was 0.84835577. In the reorganization, Michael Kalinoski received 4 common shares (and cash for fractional shares, if any) of the Acquiring Fund in exchange for his 5.1602 common shares of the Target Fund.

	/s/ Gladys Chang as Attorney-in-Fact	02/11/2026
	** Signature of Reporting Person	Date
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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FAQ

What did BlackRock Municipal Income Trust (BFK) report in this Form 4?

The Form 4 reports an other transaction by director Michael Kalinoski related to a fund reorganization. His BlackRock Municipal Income Trust shares were exchanged for BlackRock MuniHoldings Fund, Inc. shares, reflecting the merger of the two funds effective February 9, 2026.

How many BFK shares did Michael Kalinoski exchange in the reorganization?

Michael Kalinoski exchanged 5.1602 common shares of BlackRock Municipal Income Trust. Those shares were converted into common shares of BlackRock MuniHoldings Fund, Inc., with any remaining fractional share value settled in cash, as part of the fund reorganization process.

What did Michael Kalinoski receive for his BFK shares in the transaction?

In the reorganization, Michael Kalinoski received 4 common shares of BlackRock MuniHoldings Fund, Inc. plus cash for any fractional shares. This consideration was based on the relative net asset values of the two funds as of February 6, 2026 and the stated conversion ratio.

What net asset values (NAVs) were used to determine the BFK share exchange?

As of February 6, 2026, BlackRock Municipal Income Trust reported a NAV per share of $10.8945, while BlackRock MuniHoldings Fund, Inc. reported a NAV per share of $12.8419. These NAVs were used to determine the share conversion in the reorganization.

What was the conversion ratio for BlackRock Municipal Income Trust (BFK) common shares?

The reorganization used a conversion ratio of 0.84835577 for BlackRock Municipal Income Trust common shares. Each Target Fund common share was converted into that fraction of a BlackRock MuniHoldings Fund, Inc. common share, with cash paid in lieu of any resulting fractional shares.

Does Michael Kalinoski still beneficially own BlackRock Municipal Income Trust (BFK) shares?

After the reported transaction, Michael Kalinoski’s beneficially owned BFK shares are listed as zero. His prior 5.1602 BlackRock Municipal Income Trust common shares were exchanged into 4 common shares of BlackRock MuniHoldings Fund, Inc. under the reorganization terms.