Form 4: HUBBARD ROBERT GLENN reports multiple insider transactions in BFK

Rhea-AI Filing Summary

HUBBARD ROBERT GLENN reported multiple insider transaction types in a Form 4 filing for BFK. The filing lists transactions totaling 336 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^*

HUBBARD ROBERT GLENN

(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)		336	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, Glenn R. Hubbard received 285 common shares (and cash for fractional shares, if any) of the Acquiring Fund in exchange for his 336 common shares of the Target Fund.

	/s/ Gladys Chang as Attorney-in-Fact	02/09/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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FAQ

What insider transaction did BlackRock Municipal Income Trust (BFK) report?

BFK reported an “other” insider transaction by director Glenn R. Hubbard tied to a fund reorganization. His 336 common shares of the Target Fund were exchanged for 285 common shares of the acquiring BlackRock MuniHoldings Fund, Inc., plus cash for any fractional shares.

How many BlackRock Municipal Income Trust (BFK) shares did Glenn R. Hubbard exchange?

Glenn R. Hubbard exchanged 336 common shares of BlackRock Municipal Income Trust in the reorganization. In return, he received 285 common shares of BlackRock MuniHoldings Fund, Inc., based on the stated conversion ratio and net asset values as of February 6, 2026.

What was the conversion ratio in the BFK fund reorganization?

The conversion ratio was 0.84835577 for BlackRock Municipal Income Trust common shares. This ratio, applied using net asset values as of February 6, 2026, determined how many BlackRock MuniHoldings Fund, Inc. shares each holder, including Glenn R. Hubbard, received in the reorganization.

What net asset values were used in the BlackRock Municipal Income Trust (BFK) reorganization?

The Target Fund NAV was $10.8945 per share and the Acquiring Fund NAV was $12.8419 per share as of February 6, 2026. These net asset values were used to calculate the exchange and the conversion ratio of 0.84835577 in the reorganization.

Does Glenn R. Hubbard still own BlackRock Municipal Income Trust (BFK) shares after the reorganization?

No, Glenn R. Hubbard reported 0 BFK shares beneficially owned after the transaction. His 336 common shares of the Target Fund were exchanged for 285 common shares of BlackRock MuniHoldings Fund, Inc. in the February 9, 2026 reorganization transaction.

What type of Form 4 code was used for the BFK insider transaction?

The Form 4 uses transaction code J, described as an “other acquisition or disposition.” This reflects that Glenn R. Hubbard’s 336 BlackRock Municipal Income Trust common shares were exchanged for 285 BlackRock MuniHoldings Fund, Inc. shares in a fund reorganization, not an open-market trade.