BlackRock Municipal Income Trust (BLE) director logs share swap in fund reorg

Rhea-AI Filing Summary

BlackRock Municipal Income Trust director Christian Romaglino reported an other transaction related to a fund reorganization. On February 9, 2026, his 770.1207 common shares of BlackRock Municipal Income Trust II were exchanged into BlackRock MuniHoldings Fund, Inc. based on each fund’s net asset value.

As part of this reorganization, he received 684 common shares of the acquiring fund and cash for any fractional shares. Following the transaction, his reported beneficial ownership of common stock of the reporting issuer was 0 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^*

Romaglino Christian

(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)		770.1207	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, Christian Romaglino received 684 common shares (and cash for fractional shares, if any) of the Acquiring Fund in exchange for his 770.1207 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.
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FAQ

What insider transaction did BLE director Christian Romaglino report on this Form 4?

Christian Romaglino reported an other transaction tied to a fund reorganization, not an open-market trade. His 770.1207 common shares of BlackRock Municipal Income Trust II were exchanged into BlackRock MuniHoldings Fund, Inc. shares, leaving 0 common shares reported for the issuer.

How many shares were exchanged for BLE director Christian Romaglino in the reorganization?

Romaglino exchanged 770.1207 common shares of BlackRock Municipal Income Trust II in the reorganization. In return, he received 684 common shares of BlackRock MuniHoldings Fund, Inc. plus cash for any fractional shares, according to the detailed footnote in the filing.

What conversion ratio was used in the BlackRock Municipal Income Trust II reorganization?

The reorganization used a conversion ratio of 0.88854453 for the Target Fund’s common shares. This ratio determined how many BlackRock MuniHoldings Fund, Inc. shares each shareholder received in exchange for their BlackRock Municipal Income Trust II common shares surrendered.

What NAV per share figures were applied in the BLE-related fund reorganization?

As of February 6, 2026, BlackRock Municipal Income Trust II reported a net asset value per share of $11.4106. BlackRock MuniHoldings Fund, Inc. reported a net asset value per share of $12.8419, and these NAVs were used to calculate the share exchange values.

Did BLE director Christian Romaglino buy or sell shares on the open market in this Form 4?

The Form 4 shows an “other acquisition or disposition” transaction coded J, not an open-market buy or sell. His share change resulted from a fund reorganization exchanging BlackRock Municipal Income Trust II shares into BlackRock MuniHoldings Fund, Inc. shares.

What was Christian Romaglino’s reported BLE common share ownership after the transaction?

After the reported transaction, Romaglino’s beneficial ownership of the issuer’s common stock was 0 shares. The filing’s table lists 0 as the amount of securities beneficially owned following the reorganization-related exchange of his BlackRock Municipal Income Trust II shares.