BlackRock MuniYield Quality SEC Filings

BLACKROCK MUNIYIELD QUALITY FUND, INC. reported a Form 4 for director Walter O’Connor reflecting a fund reorganization rather than a normal market trade. Effective February 23, 2026, BlackRock MuniYield Fund was reorganized into BlackRock MuniYield Quality Fund. In this reorganization, common shareholders of the former fund received common shares of the new fund based on each fund’s net asset value (NAV) as of February 20, 2026. The former fund reported a NAV per share of $11.5454 and the acquiring fund reported a NAV per share of $12.5453, producing a conversion ratio of 0.92029684. Under this ratio, O’Connor received 92 common shares (plus cash for any fractional shares) of the acquiring fund in exchange for his 100 common shares of the former fund, leaving him with 92 common shares directly owned after the transaction at no stated per-share price.

BLACKROCK MUNIYIELD QUALITY FUND, INC. director Michael Kalinoski reported two “other” stock transactions tied to fund reorganizations effective February 23, 2026. In these reorganizations, two separate BlackRock municipal funds were merged into BlackRock MuniYield Quality Fund, and his prior holdings were converted into common shares of the acquiring fund at stated net asset value–based ratios.

BLACKROCK MUNIYIELD QUALITY FUND, INC. director Christian Romaglino reported an update to his holdings following fund reorganizations. Effective February 23, 2026, two predecessor municipal funds were reorganized into BlackRock MuniYield Quality Fund, Inc.

In these non-cash exchanges, he received 354 common shares of the acquiring fund in exchange for 358.6193 common shares of BlackRock Investment Quality Municipal Trust and 385 common shares in exchange for 418.8136 common shares of BlackRock MuniYield Fund. After these transactions, he directly owned 739 common shares of BlackRock MuniYield Quality Fund, Inc.

BLACKROCK MUNIYIELD QUALITY FUND, INC. reported an insider Form 4 for director Stayce D. Harris tied to fund reorganizations, not open‑market trading. On February 23, 2026, three predecessor BlackRock municipal funds were reorganized into this fund.

In these reorganizations, Harris received 10, 9, and 9 common shares, each at a stated price of $0.0000 per share, reflecting exchanges for prior holdings of the target funds based on their net asset values and conversion ratios. After these transactions, her directly owned common stock position increased to 38.7830 shares.

BLACKROCK MUNIYIELD QUALITY FUND, INC. reported administrative changes to phantom share holdings for portfolio manager Walter O’Connor tied to fund reorganizations. On February 23, 2026, three separate blocks of phantom shares were recorded at $11.74 per unit.

The transactions reflect reallocations of previously awarded phantom stock units from three predecessor BlackRock municipal funds into BlackRock MuniYield Quality Fund, Inc., using the applicable exchange ratios. After these reallocations, O’Connor directly held 1,427.06 phantom shares, which are economically equivalent to common shares and payable in cash, with no additional consideration paid by him.

BlackRock Advisors, LLC completed reorganizations of six municipal closed-end funds into three survivor funds and adopted Discount Management Programs for 2026. The reorganizations converted common and preferred shares of the acquired funds into survivor-fund shares based on relative NAVs determined at the close of business on February 20, 2026, with cash paid for fractional shares.

Each Survivor Fund adopted a Discount Management Program with a January 1, 2026 to September 30, 2026 measurement period; if a fund’s shares trade at an average daily discount to NAV of greater than 10.00% during that period, the fund intends to offer to repurchase a minimum of 5% of outstanding common shares at 98% of NAV.

BlackRock completed reorganizations that consolidated six municipal closed‑end funds into three survivor funds and adopted Discount Management Programs for 2026 for each survivor fund.

The reorganizations exchanged acquired‑fund common shares for survivor common shares based on relative NAVs as of February 20, 2026, with fractional shares paid in cash and one‑for‑one preferred share exchanges; the reorganizations are expected to be non‑taxable. The DMP Measurement Period runs from January 1, 2026 to September 30, 2026, and if a fund trades at an average daily discount greater than 10.00% during that period, the fund intends to repurchase a minimum of 5% of outstanding common shares at 98% of NAV.

BlackRock completed reorganizations that merged six municipal closed-end funds into three Survivor Funds and adopted Discount Management Programs for 2026. Common shareholders of each Acquired Fund received Survivor Fund common shares based on aggregate NAV as of February 20, 2026, with cash paid for fractional shares.

The DMPs measure average daily discount from NAV from January 1, 2026 to September 30, 2026; if a Fund’s shares trade at an average discount greater than 10.00%, the Fund intends to repurchase a minimum of 5% of outstanding common shares at 98% of NAV (price determined after tender expiration).

BlackRock MuniYield Quality Fund, Inc. portfolio manager Santiago Kristi Manidis received a grant of phantom shares tied to the fund’s common stock. On January 30, 2026, Manidis was awarded 168.3717 phantom shares at $11.73 per phantom share.

Each phantom share is the economic equivalent of one share of common stock but is payable in cash, not stock, once vesting conditions are met. These phantom shares vest in three equal installments on each of the first three anniversaries of the award, aligning compensation with longer-term fund performance.