Welcome to our dedicated page for BlackRock 2037 Municipal Target Term SEC filings (Ticker: BMN), a comprehensive resource for investors and traders seeking official regulatory documents including 10-K annual reports, 10-Q quarterly earnings, 8-K material events, and insider trading forms.
The BlackRock 2037 Municipal Target Term Trust (BMN) is a non-diversified, closed-end management investment company with an investment objective that includes providing current income exempt from regular federal income tax and returning $25.00 per common share to holders of common shares on or about September 30, 2037. As a closed-end fund, BMN is required to file reports and other documents with the U.S. Securities and Exchange Commission, which offer detailed insight into its portfolio, risks, and operations.
This SEC filings page for BMN on Stock Titan brings those regulatory documents together with AI-powered tools to help readers interpret them. While the Fund’s Annual and Semi-Annual Reports and other regulatory filings are accessible on the SEC’s website, this page is designed to make it easier to review and understand information that can be complex and technical.
Through this page, users can access filings that describe BMN’s investment focus on municipal securities that are investment grade or of comparable quality as judged by the investment adviser. Filings also provide context for actions such as the issuance of Variable Rate Demand Preferred Shares (VRDP), which BlackRock has described in public announcements as a way to increase leverage in the Fund in a manner it believes is consistent with the Fund’s objectives.
Stock Titan’s AI summaries highlight key points from forms such as annual reports and other regulatory documents, explaining how they relate to the Fund’s objectives, leverage, and risk disclosures. Users can also review information on preferred share structures and other elements that appear in the Fund’s filings. Real-time updates from EDGAR ensure that new filings are reflected promptly, while AI-generated explanations help readers understand how each document fits into the Fund’s overall regulatory record.
BlackRock 2037 Municipal Target Term Trust files a registration statement to offer common shares and subscription rights under a shelf prospectus for issuance from time to time. The Trust’s objective is to provide federally tax-exempt current income and to return $25.00 per common share on or about September 30, 2037, with no assurance this will be achieved.
The Trust uses leverage (including Series W-7 VRDP preferred shares and TOB Residuals) and currently had VRDP Shares outstanding with a liquidation preference shown as $50,000 (000) in the financial tables. The Trust’s NAV per share and market price history are presented in the prospectus; the advisor is BlackRock Advisors, LLC and the Trust’s common shares trade on the NYSE under the symbol BMN.
BlackRock 2037 Municipal Target Term Trust (BMN) files its certified shareholder report for the period ended December 31, 2025. The Trust reports $158,354,531 in net assets, a net asset value of $25.76 per common share and a closing market price of $26.18. The Trust used leverage equal to 39% of managed assets and had $50,000,000 of VRDP Shares outstanding and TOB Trust Certificates of $51,269,998.
The report details portfolio composition (major sector exposures: Health 21.8%, Transportation 20.5%), credit quality breakdown (investment grade majority), performance (1-year NAV return 4.76%, market price return 7.01%), and consolidated financial statements showing net investment income of $6,863,863 and net increase from operations of $7,158,391.
BlackRock 2037 Municipal Target Term Trust portfolio manager Phillip Soccio reported routine compensation-related transactions on January 30, 2026. He received 76.5111 phantom shares at $26.14 each, which are cash-settled units economically equivalent to common stock and subject to vesting.
Soccio also exercised previously granted phantom shares from 2024 and 2025 awards, converting 24.5376 and 30.1916 phantom shares into 54.7292 common shares. All 54.7292 common shares were then sold at $26.14 per share, leaving him with zero directly held common shares and 30.1916 phantom shares outstanding.
BlackRock 2037 Municipal Target Term Trust portfolio manager Christian Romaglino reported phantom share awards and related stock transactions. On January 30, 2026, he received 76.9893 phantom shares, each economically equivalent to one common share and payable in cash as they vest over three years.
On the same date, previously granted phantom shares were settled into 73.8153 common shares, which were then sold at $26.14 per share, leaving 4,639.1826 common shares held directly.
Bank of America Corporation and its subsidiary BofA Securities, Inc., as joint reporting persons, reported a transaction in shares of BlackRock 2037 Municipal Target Term Trust (BMN). On 11/14/2025, 1,164 shares of common stock were acquired in an open market purchase at a price of $24.76 per share. Following this transaction, 1,164 shares were reported as beneficially owned on an indirect basis.
The reporting persons state that Bank of America Corporation’s interest in these securities is indirect through its 100% ownership of BofA Securities, Inc. They expressly disclaim beneficial ownership of the reported securities except to the extent of any pecuniary interest. They also state that the filing should not be construed as an admission that they are part of any group or a greater than 10% beneficial owner. Additionally, they indicate that any profit potentially recoverable by the issuer under Section 16(b) of the Exchange Act, assuming such status applied, will be remitted to the issuer.
Bank of America Corporation and its affiliate Banc of America Preferred Funding Corp report the purchase of 500 Variable Rate Demand Preferred Shares (CUSIP 09262G207) of BlackRock 2037 Municipal Target Term Trust. The filing states these 500 VRDP Shares represent 100.0% of the class and were acquired by BAPFC in a secondary market transaction for a purchase price of $50,000,000. The shares were purchased for investment purposes and not to change control. On October 1, 2025, BAPFC assigned certain preferred-class voting rights on the shares to a Voting Trust governed by a Voting Trust Agreement; retained voting/consent rights remain with BAPFC for shares not assigned. The VRDPs benefit from a liquidity purchase obligation provided under agreements with The Bank of New York Mellon and Bank of America, N.A., and remarketing services are documented with BofA Securities, Inc..