DNT Asset Trust, JPMorgan (BKN) exchange 678 preferred shares in MQY reorg

Rhea-AI Filing Summary

BLACKROCK INVESTMENT QUALITY MUNICIPAL TRUST, INC. (BKN) reported an insider filing tied to its reorganization into BlackRock MuniYield Quality Fund, Inc. (MQY). In this transaction, DNT Asset Trust exchanged 678 Series W-7 Variable Rate Muni Term Preferred Shares of BKN for an equal number of Series W-7B Variable Rate Demand Preferred Shares of MQY in a cashless exchange.

The 678 BKN preferred shares are shown as disposed, reflecting their exchange into MQY shares rather than a cash sale. The statement is filed jointly by JPMorgan Chase & Co. and DNT Asset Trust, with JPMorgan’s interest arising indirectly through its ownership of subsidiary DNT Asset Trust, and the reporting persons include standard disclaimers about being part of any group.

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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X

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^*

JPMORGAN CHASE & CO

(Last) (First) (Middle)

270 PARK AVENUE

(Street)

NEW YORK NY 10017

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
BLACKROCK INVESTMENT QUALITY MUNICIPAL TRUST, INC. [ BKN ]

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

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

3. Date of Earliest Transaction (Month/Day/Year)
02/23/2026

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

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

	Form filed by One Reporting Person
X	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
Series W-7 Variable Rate Muni Term Preferred Shares	02/23/2026		J(1)(2)		678	D(1)	(1)	0	I(2)	By Subsidiary(2)(3)

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

1. Name and Address of Reporting Person^*

JPMORGAN CHASE & CO

(Last) (First) (Middle)

270 PARK AVENUE

(Street)

NEW YORK NY 10017

(City) (State) (Zip)

Relationship of Reporting Person(s) to Issuer

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

1. Name and Address of Reporting Person^*

DNT Asset Trust

(Last) (First) (Middle)

270 PARK AVENUE

(Street)

NEW YORK NY 10017

(City) (State) (Zip)

Relationship of Reporting Person(s) to Issuer

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

Explanation of Responses:

1. In connection with the reorganization of the Issuer into BlackRock MuniYield Quality Fund, Inc. ("MQY"), 678 Series W-7 Variable Rate Muni Term Preferred Shares ("VMTP Shares") of the Issuer beneficially owned by DNT Asset Trust ("DNT Trust") were exchanged for an equal number of Series W-7B Variable Rate Demand Preferred Shares of MQY in a cashless transaction. The 678 shares reported as disposed of in Table I represent shares that were beneficially owned by DNT Trust.

2. This statement is jointly filed by JPMorgan Chase & Co. and DNT Trust. JPMorgan Chase & Co. holds an indirect interest in the securities listed in Table I by virtue of its indirect ownership of its subsidiary DNT Trust.

3. Each reporting person declares that neither the filing of this statement nor anything herein shall be construed as an admission that such person is, for the purposes of Section 13(d) of the US Securities Exchange Act of 1934 or any other purpose, (i) acting (or has agreed or is agreeing to act together with any other person) as a partnership, limited partnership, syndicate or other group for the purpose of acquiring, holding or disposing of securities of the Issuer or otherwise with respect to the Issuer or any securities of the Issuer or (ii) a member of any group with respect to the Issuer or any securities of the Issuer.

Remarks:

Exhibits Index Exhibit 99.1 - Joint Filing Agreement Exhibit 99.2 - Joint Filer Information

	JPMORGAN CHASE & CO., by: Michael Lees, Executive Director, /s/ Michael Lees	02/26/2026
	DNT ASSET TRUST, by: Tim A. Self, Authorized Officer, /s/ Tim A. Self	02/26/2026
	** 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 transaction did the Form 4 report for BLACKROCK INVESTMENT QUALITY MUNICIPAL TRUST (BKN)?

The Form 4 reports a cashless exchange of 678 BKN preferred shares. DNT Asset Trust exchanged Series W-7 Variable Rate Muni Term Preferred Shares for an equal number of Series W-7B Variable Rate Demand Preferred Shares of MQY as part of a reorganization.

Who are the reporting persons in the BKN Form 4 filing?

The reporting persons are JPMorgan Chase & Co. and DNT Asset Trust. The statement notes it is jointly filed, and JPMorgan Chase & Co. holds an indirect interest through its ownership of subsidiary DNT Asset Trust, which beneficially owned the reported preferred shares.

How many BKN preferred shares were exchanged by DNT Asset Trust?

DNT Asset Trust exchanged 678 preferred shares of BKN. These were Series W-7 Variable Rate Muni Term Preferred Shares, swapped for an equal number of Series W-7B Variable Rate Demand Preferred Shares of BlackRock MuniYield Quality Fund, Inc. in a cashless transaction tied to the reorganization.

Was the BKN Form 4 transaction a cash sale or a cashless exchange?

The transaction was a cashless exchange, not a cash sale. DNT Asset Trust exchanged 678 BKN Series W-7 Variable Rate Muni Term Preferred Shares for the same number of MQY Series W-7B Variable Rate Demand Preferred Shares in connection with the reorganization.

What relationship does JPMorgan Chase & Co. have to the DNT Asset Trust shares in BKN?

JPMorgan Chase & Co. has an indirect interest in the BKN securities through DNT Asset Trust. The filing explains this interest arises from JPMorgan’s indirect ownership of its subsidiary DNT Asset Trust, which beneficially owned the 678 preferred shares reported as exchanged.

Do the reporting persons admit to being part of a group regarding BKN securities?

The reporting persons explicitly disclaim being part of any group regarding BKN securities. They state that filing the Form 4 should not be construed as an admission of acting together as a group for acquiring, holding, or disposing of the issuer’s securities.