Phantom shares reallocated in BlackRock MQT (NYSE: MQT) Form 4 filing

Rhea-AI Filing Summary

BLACKROCK MUNIYIELD QUALITY FUND II, INC. reported a Form 4 for portfolio manager Kristi Manidis showing an "other" derivative transaction involving 162.910 phantom shares at $10.30 each. These phantom stock units, which are cash-settled equivalents of common shares, were reallocated in connection with the reorganization of BlackRock MuniYield Quality Fund II into BlackRock MuniYield Quality Fund, Inc., using the same exchange ratio as the fund merger.

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^*

Santiago Kristi Manidis

(Last) (First) (Middle)

50 HUDSON YARDS

(Street)

NEW YORK NY 10001

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
BLACKROCK MUNIYIELD QUALITY FUND II, INC. [ MQT ]

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)
02/23/2026

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

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)	02/23/2026		J(2)			162.91	(1)(2)	(1)(2)	Common Stock	162.91	$10.3(2)	0	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. Effective as of February 23, 2026, BlackRock MuniYield Quality Fund II, Inc. (the "Target Fund") was reorganized into BlackRock MuniYield Quality Fund, Inc. (the "Acquiring Fund"). In connection with this reorganization, phantom stock units previously awarded to Kristi Manidis in the Target Fund were reallocated to the Acquiring Fund, converted at the exchange ratio used in the reorganization.

	/s/ Gladys Chang as Attorney-in-Fact	02/25/2026
	** 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 BlackRock MuniYield Quality Fund II (MQT) report for Kristi Manidis?

The fund reported an "other" derivative transaction for portfolio manager Kristi Manidis involving 162.910 phantom shares at $10.30 each. The transaction reflects reallocation of existing phantom units due to a fund reorganization, not a traditional open-market purchase or sale of common stock.

What are phantom shares in the BlackRock MQT Form 4 filing?

Phantom shares are the economic equivalent of one share of common stock but are payable in cash, not actual shares, once vesting conditions are met. They track the value of the stock, providing compensation aligned with performance without issuing additional common shares.

Why were Kristi Manidis’s phantom shares affected in the MQT filing?

The phantom shares were affected because BlackRock MuniYield Quality Fund II was reorganized into BlackRock MuniYield Quality Fund. In this reorganization, previously awarded phantom stock units in the original fund were reallocated and converted to the acquiring fund using the same exchange ratio applied in the merger.

Does the MQT Form 4 show buying or selling of common stock by Kristi Manidis?

The Form 4 does not show a traditional buy or sell of common stock. It reports an "other acquisition or disposition" involving phantom shares tied to a fund reorganization, where phantom units were reallocated and converted, rather than cash purchases or sales in the market.

What happened to Kristi Manidis’s phantom share balance after the reported MQT transaction?

After the reported transaction, the Form 4 indicates a total of 0.000 phantom shares following the transaction. This reflects the reallocation and conversion of previously awarded phantom stock units in connection with the reorganization into BlackRock MuniYield Quality Fund.

How was the exchange ratio used in the MQT phantom share transaction determined?

The phantom share conversion used the same exchange ratio applied in the reorganization where BlackRock MuniYield Quality Fund II merged into BlackRock MuniYield Quality Fund. Phantom stock units were reallocated and converted based on that ratio, aligning with the underlying fund merger terms.