BlackRock MuniYield II logs phantom share reorg

BLACKROCK MUNIYIELD QUALITY FUND II, INC. reported an administrative change involving phantom shares held by portfolio manager Michael Kalinoski.

Rhea-AI Filing Summary

BLACKROCK MUNIYIELD QUALITY FUND II, INC. reported an administrative change involving phantom shares held by portfolio manager Michael Kalinoski. On February 23, 2026, a Form 4 recorded an “other” transaction (code J) for 82.2100 phantom shares at $10.3000 per unit, leaving 0.0000 phantom shares reported for this fund.

According to the footnotes, each phantom share is economically equivalent to one share of common stock and, after vesting, is payable in cash. The filing explains that on February 23, 2026, BlackRock MuniYield Quality Fund II, Inc. was reorganized into BlackRock MuniYield Quality Fund, Inc., and phantom stock units previously awarded to Kalinoski in the former fund were reallocated to the acquiring fund using the same exchange ratio as the reorganization.

Insider Trade Summary

Other: 82.21 shares

Other 1 txn

Insider KALINOSKI MICHAEL

Role Insider

Type	Security	Shares	Price	Value
Other	Phantom Shares	82.21	$10.30	$846.76

Holdings After Transaction: Phantom Shares — 0 contracts (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. 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 Michael Kalinoski in the Target Fund were reallocated to the Acquiring Fund, converted at the exchange ratio used in the reorganization.

FAQ

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What did the Form 4 for BLACKROCK MUNIYIELD QUALITY FUND II (MQT) report for Michael Kalinoski?

The Form 4 reports an “other” transaction in 82.2100 phantom shares at $10.3000 per unit, leaving 0.0000 phantom shares reported for this fund. The change reflects a reallocation tied to a fund reorganization rather than a conventional buy or sell.

What are phantom shares in the context of BLACKROCK MUNIYIELD QUALITY FUND II (MQT)?

Phantom shares are compensation units economically equivalent to one share of common stock and, after satisfying vesting requirements, become payable in cash. They track the value of the underlying stock but do not represent actual shares or traditional stock ownership.

Why did Michael Kalinoski’s reported phantom shares in MQT drop to zero on the Form 4?

His reported phantom shares declined to 0.0000 because the units previously awarded in BlackRock MuniYield Quality Fund II, Inc. were reallocated to BlackRock MuniYield Quality Fund, Inc., using the same exchange ratio applied in the overall fund reorganization on February 23, 2026.

What was the nature of the Form 4 transaction code J for MQT and Michael Kalinoski?

Transaction code J is classified as an “other acquisition or disposition.” In this case, it reflects an administrative reallocation of 82.2100 phantom shares in connection with the merger of BlackRock MuniYield Quality Fund II, Inc. into BlackRock MuniYield Quality Fund, Inc.

Did the Form 4 for MQT indicate a buy or sell of common stock by Michael Kalinoski?

No, the Form 4 did not show a standard buy or sell of common stock. It recorded an “other” derivative transaction involving phantom shares, related to reallocating compensation units as part of the reorganization into BlackRock MuniYield Quality Fund, Inc.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 02/25/2026 - 09:08 PM Learn about SEC filing dates

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 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)			82.21	(1)(2)	(1)(2)	Common Stock	82.21	$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 Michael Kalinoski 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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