BlackRock Municipal Income Quality Trust (NYSE: BYM) manager sells 49.7 shares

Rhea-AI Filing Summary

BlackRock Municipal Income Quality Trust portfolio manager Michael Kalinoski reported routine equity compensation activity. On January 30, 2026, 49.7257 phantom shares were converted into the economic equivalent of common stock at an exercise price of $0.00 per share.

That same day, 49.7257 common shares were sold at a price of $11.15 per share. After these transactions, Kalinoski directly owned 500 common shares of the trust. The phantom shares represent compensation that vests in installments and is economically equivalent to common stock.

Insider Trade Summary

49.7257 shares exercised/converted

Exercise 3 txns

Insider KALINOSKI MICHAEL

Role Insider

Type	Security	Shares	Price	Value
Exercise	Phantom Shares	49.7257	$0.00	$0.00
Exercise	Common Stock	49.7257	$0.00	$0.00
Disposition	Common Stock	49.7257	$11.15	$554.44

Holdings After Transaction: Phantom Shares — 0 shares (Direct); Common Stock — 500 shares (Direct)

Footnotes (2)

1. F1. A phantom share is the economic equivalent of one share of common stock and, subject to the applicable vesting requirements, becomes payable in cash.
2. F2. As previously reported on a Form 4 dated February 2, 2023, the Reporting Person was granted phantom shares on January 31, 2023 payable in cash on vesting, which occurs in equal installments on each of the first three anniversaries of the grant date.

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Form 4 Insider Transactions: What Each Field Means →

Accepted by SEC EDGAR 02/03/2026 - 05:00 PM Learn about SEC filing dates

FAQ

What insider transaction did BYM portfolio manager Michael Kalinoski report?

Kalinoski reported converting 49.7257 phantom shares into the economic equivalent of common stock at $0.00 per share, then selling 49.7257 common shares at $11.15 per share on January 30, 2026.

How many BYM shares does Michael Kalinoski own after this Form 4?

After the reported transactions, portfolio manager Michael Kalinoski directly owned 500 common shares of BlackRock Municipal Income Quality Trust (BYM), according to the Form 4 insider filing for activity on January 30, 2026.

What are phantom shares in the BYM Form 4 filing?

The filing explains that a phantom share is the economic equivalent of one share of common stock and, subject to vesting requirements, becomes payable in cash rather than delivering actual BYM shares.

When were the BYM phantom shares originally granted to Michael Kalinoski?

The phantom shares were granted on January 31, 2023, as previously reported on a Form 4 dated February 2, 2023. They vest in equal installments on each of the first three anniversaries of the grant date.

What roles does the reporting person hold at BlackRock Municipal Income Quality Trust (BYM)?

The Form 4 lists Michael Kalinoski as a reporting person in the capacity of "Other – Portfolio Manager". He is not identified as a director, officer, or 10% owner of BlackRock Municipal Income Quality Trust.

Were the BYM phantom share transactions direct or indirect ownership?

The Form 4 indicates that the phantom share and related common stock transactions were held under direct (D) ownership by Michael Kalinoski, with no separate entity or indirect ownership structure disclosed.

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 QUALITY TRUST [ BYM ]

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

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

3. Date of Earliest Transaction (Month/Day/Year)
01/30/2026

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	01/30/2026		M		49.7257	A	(1)(2)	549.7257	D
Common Stock	01/30/2026		D		49.7257	D	$11.15(1)(2)	500	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
Phantom Shares	(1)(2)	01/30/2026		M			49.7257	(1)(2)	(1)(2)	Common Stock	49.7257	(1)(2)	0.0000	D

Explanation of Responses:

1. A phantom share is the economic equivalent of one share of common stock and, subject to the applicable vesting requirements, becomes payable in cash.

2. As previously reported on a Form 4 dated February 2, 2023, the Reporting Person was granted phantom shares on January 31, 2023 payable in cash on vesting, which occurs in equal installments on each of the first three anniversaries of the grant date.

	/s/ Gladys Chang as Attorney-in-Fact	02/03/2026
	** 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.