MQY portfolio manager’s phantom shares reallocated

BLACKROCK MUNIYIELD QUALITY FUND, INC. reported a Form 4 for portfolio manager Kristi Manidis showing administrative reallocations of phantom shares tied to fund reorganizations.

Rhea-AI Filing Summary

BLACKROCK MUNIYIELD QUALITY FUND, INC. reported a Form 4 for portfolio manager Kristi Manidis showing administrative reallocations of phantom shares tied to fund reorganizations. On February 23, 2026, 98.55 and 142.86 phantom share units, each valued at $11.74, were transferred from two predecessor BlackRock municipal funds into this fund. Phantom shares are economically equivalent to common stock and are payable in cash after vesting, and the footnotes state that Manidis paid no additional consideration for these reallocations.

Insider Trade Summary

Other: 241.41 shares

Other 2 txns

Insider Santiago Kristi Manidis

Role Insider

Type	Security	Shares	Price	Value
Other	Phantom Shares	98.55	$11.74	$1K
Other	Phantom Shares	142.86	$11.74	$2K

Holdings After Transaction: Phantom Shares — 676.7 contracts (Direct)

Footnotes (3)

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 Investment Quality Municipal Trust (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. The number of phantom stock units in the Acquiring Fund (98.55 units at $11.74 per share) represents the value of the reporting person's former Target Fund phantom stock units converted at the exchange ratio used in the reorganization. No additional consideration was paid by the reporting person in connection with this reallocation.
3. F3. Effective as of February 23, 2026 BlackRock MuniYield Quality Fund II, Inc. Income Trust (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. The number of phantom stock units in the Acquiring Fund (142.86 units at $11.74 per share) represents the value of the reporting person's former Target Fund phantom stock units converted at the exchange ratio used in the reorganization. No additional consideration was paid by the reporting person in connection with this reallocation.

FAQ

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What did the Form 4 for MQY disclose about Kristi Manidis' phantom shares?

The Form 4 shows administrative reallocations of phantom shares to BlackRock MuniYield Quality Fund, Inc. on February 23, 2026. Units previously tied to two other BlackRock municipal funds were converted into MQY-linked phantom shares at a stated value of $11.74 per unit, with no extra payment.

How many phantom shares were reallocated to MQY for Kristi Manidis?

Two blocks of phantom shares were reallocated: 98.55 units and 142.86 units. Each block reflects the value of prior phantom stock units in separate target funds, converted into BlackRock MuniYield Quality Fund, Inc. units at an exchange ratio using a price of $11.74 per share.

What is a phantom share in the context of MQY's Form 4 filing?

A phantom share is defined as the economic equivalent of one common share of BlackRock MuniYield Quality Fund, Inc. According to the disclosure, these phantom shares are payable in cash after satisfying applicable vesting requirements, rather than delivering actual fund shares to the reporting person.

Why were Kristi Manidis' phantom shares moved into BlackRock MuniYield Quality Fund, Inc.?

The phantom shares were moved because two target funds were reorganized into BlackRock MuniYield Quality Fund, Inc. On February 23, 2026, phantom units from BlackRock Investment Quality Municipal Trust and BlackRock MuniYield Quality Fund II, Inc. were reallocated to MQY using each reorganization’s exchange ratio.

Did Kristi Manidis pay anything for the phantom share reallocations in MQY?

No additional cash was paid by Kristi Manidis for these reallocations. The footnotes state that the number of MQY phantom stock units simply reflects the converted value of her prior phantom units in the target funds, with no extra consideration required from her.

Are the transactions in MQY's Form 4 reported as buys or sells of shares?

The transactions are coded as “J” other acquisitions or dispositions, not standard buys or sells. They represent reallocation of existing phantom stock units due to fund reorganizations, and the summarized transaction data shows no buy or sell share activity for this reporting event.

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Accepted by SEC EDGAR 02/25/2026 - 08:59 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^*

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, INC. [ MQY ]

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)		98.55		(1)(2)	(1)(2)	Common Stock	98.55	$11.74(2)	266.92	D
Phantom Shares	(1)	02/23/2026		J(3)		142.86		(1)(3)	(1)(3)	Common Stock	142.86	$11.74(3)	409.78	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 Investment Quality Municipal Trust (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. The number of phantom stock units in the Acquiring Fund (98.55 units at $11.74 per share) represents the value of the reporting person's former Target Fund phantom stock units converted at the exchange ratio used in the reorganization. No additional consideration was paid by the reporting person in connection with this reallocation.

3. Effective as of February 23, 2026 BlackRock MuniYield Quality Fund II, Inc. Income Trust (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. The number of phantom stock units in the Acquiring Fund (142.86 units at $11.74 per share) represents the value of the reporting person's former Target Fund phantom stock units converted at the exchange ratio used in the reorganization. No additional consideration was paid by the reporting person in connection with this reallocation.

	/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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