BLE Form 4 reports multiple insider transactions

KALINOSKI MICHAEL reported multiple insider transaction types in a Form 4 filing for BLE.

Rhea-AI Filing Summary

KALINOSKI MICHAEL reported multiple insider transaction types in a Form 4 filing for BLE. The filing lists transactions totaling 6,570 shares.

Insider Trade Summary

Other: 6,569.7894 shares

Other 1 txn

Insider KALINOSKI MICHAEL

Role Director

Type	Security	Shares	Price	Value
Other	Common Stock	6,569.7894	$0.00	$0.00

Holdings After Transaction: Common Stock — 0 shares (Direct)

Footnotes (1)

1. F1. Effective as of February 9, 2026, BlackRock Municipal Income Trust II (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 $11.4106 and the Acquiring Fund reported a NAV per share of $12.8419. The conversion ratio for the Target Fund's common shares was 0.88854453. In the reorganization, Michael Kalinoski received 5837 common shares (and cash for fractional shares, if any) of the Acquiring Fund in exchange for his 6569.7894 common shares of the Target Fund.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What insider transaction did BLE director Michael Kalinoski report?

Michael Kalinoski reported an exchange of shares resulting from a fund reorganization. His 6,569.7894 common shares of BlackRock Municipal Income Trust II were converted into 5,837 common shares of BlackRock MuniHoldings Fund, Inc., plus cash for any fractional shares created in the exchange.

How did the BlackRock Municipal Income Trust II reorganization affect shareholders of BLE?

The reorganization moved shareholders from BlackRock Municipal Income Trust II into BlackRock MuniHoldings Fund, Inc. Common shareholders received Acquiring Fund shares equal in value to their surrendered shares, based on each fund’s net asset value, ensuring an equivalent value exchange rather than a traditional open-market sale or purchase.

What NAVs were used to calculate the BLE share conversion in this Form 4?

The conversion used February 6, 2026 net asset values. The Target Fund reported a NAV per share of $11.4106, while the Acquiring Fund reported a NAV per share of $12.8419. These values determined how many Acquiring Fund shares each Target Fund shareholder received in the reorganization.

What was the conversion ratio for BlackRock Municipal Income Trust II common shares?

The conversion ratio for Target Fund common shares was 0.88854453. This means each common share of BlackRock Municipal Income Trust II was exchanged for approximately 0.88854453 common shares of BlackRock MuniHoldings Fund, Inc., with any remaining fractional entitlements settled in cash where applicable.

How many shares did BLE director Michael Kalinoski own after the reported transaction?

Following the reported transaction, Kalinoski held zero common shares of the Target Fund. His 6,569.7894 BlackRock Municipal Income Trust II shares were fully exchanged into 5,837 BlackRock MuniHoldings Fund, Inc. shares, plus cash for any fractional shares, eliminating his remaining Target Fund position.

Is Kalinoski’s Form 4 for BLE a buy or sell of shares?

The Form 4 describes an “other” transaction, not a standard buy or sell. His Target Fund shares were exchanged into Acquiring Fund shares as part of a reorganization, using net asset value-based conversion, rather than an open-market purchase or sale transaction.

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Accepted by SEC EDGAR 02/11/2026 - 05:51 PM Learn about SEC filing dates

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

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

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 II [ BLE ]

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)		6,569.7894	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 II (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 $11.4106 and the Acquiring Fund reported a NAV per share of $12.8419. The conversion ratio for the Target Fund's common shares was 0.88854453. In the reorganization, Michael Kalinoski received 5837 common shares (and cash for fractional shares, if any) of the Acquiring Fund in exchange for his 6569.7894 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).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
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