Form 4: OCONNOR WALTER reports multiple insider transactions in BLE

Rhea-AI Filing Summary

OCONNOR WALTER reported multiple insider transaction types in a Form 4 filing for BLE. The filing lists transactions totaling 95 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

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^*

OCONNOR WALTER

(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)		95	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, Walter O'Connor received 84 common shares (and cash for fractional shares, if any) of the Acquiring Fund in exchange for his 95 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.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

What insider transaction did BLE director Walter O’Connor report?

Walter O’Connor reported an “other” transaction where his 95 common shares of the Target Fund were exchanged for 84 common shares of the Acquiring Fund in a reorganization, with any fractional share settled in cash.

How many BlackRock Municipal Income Trust shares were exchanged in this Form 4?

The filing shows 95 common shares of the Target Fund were surrendered in the reorganization. In return, Walter O’Connor received 84 common shares of the Acquiring Fund, with a small cash payment covering any fractional share difference created by the exchange ratio.

What conversion ratio was used in the BLE fund reorganization?

The reorganization used a conversion ratio of 0.88854453. Each Target Fund common share was converted into that fraction of an Acquiring Fund common share, determining how many new shares shareholders like Walter O’Connor received in exchange for their existing holdings.

What NAVs were used to calculate the BLE share exchange?

Net asset values as of February 6, 2026 were used. The Target Fund reported $11.4106 per share and the Acquiring Fund reported $12.8419 per share, forming the basis for the 0.88854453 conversion ratio in the reorganization transaction.

How many BLE issuer shares did Walter O’Connor report after the transaction?

After the reorganization-related transaction, Walter O’Connor reported beneficial ownership of 0 common shares of the issuer. His 95 Target Fund shares were exchanged for 84 Acquiring Fund shares, and those replacement shares relate to the acquiring vehicle, not the reporting issuer.

What does transaction code J mean in the BLE Form 4?

Transaction code J indicates an “other acquisition or disposition.” In this case, it reflects the automatic exchange of Walter O’Connor’s 95 Target Fund shares into 84 Acquiring Fund shares under the terms of the reorganization, rather than an open-market trade.